Registrar-Generals-Department-Annual-report-1968-1969 — Page 33

75. The number of documents received for filing and the number of inspections of files by the public rose to the new record figures of 35,648 and 32,017 respectively. These figures represent increases of about 18.9% and 25% over the corresponding figures for 1967-68.

76. Although under no statutory obligation to do so, the Companies Registry sends reminders in respect of failures to file Annual Returns and other documents within the prescribed periods, and every year publishes advertisements calling attention to the statutory require- ments. Notwithstanding these reminders 20 companies failed to file documents, and were prosecuted in consequence. The fines imposed included fines of from $150 to $500 on three of the companies and eight directors. On the incorporation of every new company the Companies Registry supplies it with a pamphlet entitled 'Notes on certain provisions of the Companies Ordinance with special reference to documents which have to be filed in the Companies Registry'. A copy is also supplied free of charge to any company that asks for one. 77. 260 companies increased their nominal capital by amounts totalling $767,878,500, on which fees of $1,535,757 were paid.

78. 161 companies changed their names by special resolution and with the approval of the Governor given by the Registrar General or Assistant Registrar General under delegated powers. One of the main reasons for such changes is that, as mentioned in paragraph 71, com- panies are incorporated by solicitors and others to be held in stock' for issue to clients when required. The clients then choose a name to their liking and have the old name changed. Similarly the names of real estate companies are often changed when control passes from one syndicate to another.

79. One licence to keep a branch Share Register was granted under Section 103 of the Ordinance.

80. 823 charges were registered by companies securing a total of $646,012,591, and 1,163 certificates of satisfaction were submitted in respect of charges totalling $376,012,444. There was therefore an increase of over $270m, in the amounts of charges subsisting. This does not mean that the amount actually owed by companies and secured by charges increased by that sum, because in many cases charges are granted to secure banking facilities, which may not be utilized up to the full amount for which the property is charged. The numbers and amounts of charges and certificates of satisfaction registered have varied over the past five years as follows:

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