ENG-1982 — Page 63

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INDUSTRY AND TRADE

Ordinance before it may be accepted for registration. During 1982, 6 206 applications were received and 2734, including many made in previous years, were accepted and allowed to be advertised. A total of 3 000 marks were registered. The principal countries

of origin were:

Hong Kong

United States

Japan

United Kingdom

France

740

675

West Germany Switzerland

277

Italy

267

200

Australia Netherlands

222

118

131

59

47

The total number of marks on the register at December 31, 1982, was 39 142.

Although there is no original grant of patents in Hong Kong, the Registration of Patents Ordinance provides that any grantee of a United Kingdom patent or European Patent (UK) may, within five years from the date of its grant, apply to have the patent registered in Hong Kong. Registration of a United Kingdom patent or European Patent (UK) in Hong Kong confers on the grantee the same privileges and rights as if the patent had been granted in the United Kingdom with an extension to Hong Kong. The privileges and rights run from the commencement of the term of the patent in the United Kingdom, and continue as long as the patent remains in force there. A total of 558 patents were registered during the year, compared with 654 in 1981.

Companies Registry

The Companies Registry of the Registrar General's Department keeps records of all companies incorporated in Hong Kong and of all foreign corporations that have established a place of business in Hong Kong.

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Local companies are incorporated under the Companies Ordinance which is, to a large extent, still based on the Companies Act 1929 formerly in force in Britain but now replaced by the Companies Acts of 1948 and 1981. However, as a result of implementing a number of recommendations made by the Companies Law Revision Committee (June, 1971, and April, 1973), several parts of the ordinance notably those dealing with prospectuses, accounts and audit have been amended. These parts now incorporate most of the relevant provisions of the Companies Acts of 1948 and 1967. A lengthy bill incorporating most of the recommendations in the committee's second report which have not already been implemented by legislation was published in the Government Gazette of July 18, 1980, and the public were invited to comment on it. Numerous individuals and organisations submitted detailed comments, both on the matters dealt with in the bill and on other aspects of company law, and these are still under consideration by the government.

On incorporation, a company pays a registration fee of $300 plus $4 for every $1,000 of nominal capital. In 1982, 12 983 new companies were incorporated - 2 894 less than in 1981. The nominal capital of new companies registered totalled $3,939 million. Of the new 3 971 companies, 130 had a nominal share capital of $5 million or more. During the year, companies increased their nominal capital by amounts totalling $19,451 million on which fees were paid at the same rate of $4 per $1,000. At the end of 1982, there were 108 302 local companies on the register, compared with 96 261 in 1981.

Companies incorporated overseas are required to register certain documents with the Companies Registry within one month of establishing a place of business in Hong Kong. Only small filing fees are payable in such cases. During the year, 213 of these companies were registered and 61 ceased to operate. At the end of 1982, 1 699 companies were