ENG-1952 — Page 152

HONG KONG ANNUAL REPORT, 1952

Registration of Business. Ordinance No. 14 was enacted to give effect to certain recommendations of a committee appointed by the Governor in 1946, to review taxation. Persons carrying on business in the Colony, with certain exceptions, are required to pay an annual fee of $200 in respect of each place of business, subject to a maximum of $600 yearly from any one person. The opportunity was also taken to make provision for the registration of all businesses covered by the Ordinance. Failure to register imposes certain dis- abilities in such matters as the recovery by legal action of debts, fees and costs.

Import and Export. The consolidation of a number of Ordinances and rules concerning this important subject is effected by Ordinance No. 21. Certain new provisions concerning forfeitures are added. The law on this subject, previously scattered in different Ordinances and Defence and Emergency Regulations, is embodied in this Ordinance and the regulations.

Companies. The method of appointing auditors for companies had been the subject of criticism and, to deal with this, Ordinance No. 23 was enacted to amend the Companies Ordinance. Admission to the list of authorized auditors is now controlled by a public Board appointed by the Governor. The Board, which has disciplinary powers, is under the Chairmanship of the Registrar of Companies.

Land. The reclamation works at present being undertaken at Kennedy Town and Causeway Bay are authorized by Ordinances Nos. 28 and 30.

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