Registrar-Generals-Department-Annual-report-1972-1973 — Page 37

to be filed in the Companies Registry'. A copy is also supplied free of charge to any company that asks for one.

87. 1,475 companies increased their nominal capital by amounts totalling over $19,940 m., on which fees of over $39.88m. were paid.

88. 604 companies (compared with 392 in 1971-72) changed their names by special resolution and with the approval of the Governor given by the Registrar General or an Assistant Registrar General under delegated powers. One of the main reasons for such changes is that, as mentioned in paragraph 81, companies 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.

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

90. 1,721 charges were registered by companies securing a total of over $2,200m., and 1,477 certificates of satisfaction were submitted in respect of charges totalling over $911m. There was therefore an increase of about $1,289m, 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:

Certificates of Satisfaction

No. Amount

1968-69

1969-70

1970-71

1971-72

1972-73

:

:

Charges

No.

Amount

823

$ 646m.

1,163 $ 376m.

1,128

865m.

1,751

366m.

1,372

1,157m.

1,786

555m.

1,522

1,591m.

1,400

483m.

1,721

2,200m.

1,477

911m.

$6,459m.

$2,691m.

Over the last five years there has therefore been an apparent increase in the amounts of charges subsisting of $3,768m., but some of this

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