Chapter: 32  COMPANIES ORDINANCE

Schedule Num: 12  Version Date 15/07/2005

PUNISHMENT OF OFFENCES UNDER THIS ORDINANCE

TWELFTH SCHEDULE

[section 351]

Section creating offence

General nature of offence

Mode   of   prosecution

Punishment Daily default fine (if applicable)

8(8) Company failing to deliver to the Registrar notice or other document following alteration to its objects Summary level 3 $300

10(3) Company without a share capital failing to give notice of an increase of number of members beyond the registered number Summary level 3 $300

13(4) Company failing to deliver to the Registrar document following alteration to its articles  (Added 30 of 1999 s. 38) Summary level 3 $300

21(9) Failure by a body to alter its name on the revocation of a licence to use the words "Chamber of Commerce", etc. in its name Summary level 3 $700

22(1B) Company failing to give the Registrar notice of change of company name  (Added 28 of 2003 s. 119) Summary level 3 $300

22(6) Company failing to change name on the direction of the Registrar  (Replaced 60 of 1990 s. 10) Summary level 6 and 6 months $700

22A(4) Company failing to change name on the direction of the Registrar on the grounds that the name is misleading Summary level 4 $700

26(2) Company failing to send to one of its members a copy of the memorandum or articles when required by the member Summary level 3 -

27(2) When a company's memorandum is altered, issuing a copy of the memorandum without alteration Summary level 3 -

30(2) Failing to give notice, register prospectus or otherwise failing to comply with section 30(1) or (1A) on ceasing to be a private company Summary level 5  -

30(2A) Authorizing a statement in lieu of prospectus under section 30(1) containing an untrue statement On indictment   Summary $150000 and 2 years    level 5 and 6 months -

-

38(1B) Issuing a company prospectus that does not comply with section 38(1) and (1A) Summary  level 5 -

38(3) Issuing a company prospectus that does not comply with section 38  Summary level 6 -

38B(3) Advertising an abstract from or an abridged version of a company prospectus Summary level 6 -

38C(2) Issuing a company prospectus with an expert's statement in it, he not having given his consent Summary level 6 -

38D(8)  Issuing a company prospectus without delivering a copy to the Registrar or without the requisite endorsements  (Amended 86 of 1992 s. 20)

Summary level 6 $300

39A(3) Amendment of prospectus consisting of one document not done in compliance with Part 1 of the Twentieth Schedule  (Added 30 of 2004 s. 2)

Summary level 6 -

39B(4) Amendment of prospectus consisting of more than one document not done in compliance with Part 1 of the Twenty-first Schedule  (Added 30 of 2004 s. 2) Summary level 6 -

40A(1) Authorizing the issue of a prospectus containing an untrue statement On indictment   Summary $700000 and 3 years    $150000 and 12 months -

-

43(4) Allotting shares before the 3rd day after delivering a statement in lieu of prospectus to the Registrar Summary level 6 -

43(5) Authorizing a statement in lieu of prospectus under section 43(1) containing an untrue statement On indictment     Summary $350000 and 2 years   $150000 and 12 months -

-

44A(4) Allotting shares before the 3rd day after the issue of a prospectus Summary  level 6 -

44B(3) Company failing to keep money in separate bank account when received under a prospectus stating that stock exchange listing is being applied for

Summary level 5 -

45(3) Company failing to deliver return of allotments, etc., to the Registrar Summary level 5 $700

46(5) Company failing to deliver to the Registrar the specified form disclosing the amount or rate of share commission Summary level 4 -

47A(3) Company giving financial assistance for the acquisition of its own shares Summary $125000 and 12 months -

47F(4) Company failing to register statement made by directors under section 47E(6)  (Amended 28 of 2003 s. 119) Summary level 5 $1300

47F(5) Director signing a statement made under section 47E(6) without having reasonable grounds for the opinion expressed in it  (Amended 28 of 2003 s. 119) Summary level 5 and 6 months -

47G(10) Company failing to give the Registrar notice, or copy of court order, of application under section 47G Summary level 3 $250

49G(6) Default by company's officer in registering return disclosing purchase by company of own shares On indictment   Summary level 6  level 4 $650   $250

49G(7) Default by company to keep copy contract, etc., at registered office; refusal of inspection to person demanding it Summary level 4 $250

49K(6) Director signing a statement under section 49K without having reasonable grounds for the opinion expressed in it  (Amended 28 of 2003 s. 119) On indictment   Summary $125000 and 2 years    level 5 and 6 months -

-

49M(6) Refusal of inspection of directors' statement and auditors' report under section 49K  (Amended 28 of 2003 s. 119) Summary level 4 $650

49N(4) Company failing to give the Registrar notice, or copy of court order, of application under section 49N Summary level 3 $250

50(3) Company failing to disclose in a prospectus particulars of discount allowed on the issue of shares Summary level 3 $300

54(2) Company failing to give notice of reorganization of share capital Summary  level 3 $300

55(3) Company failing to give notice of increase of share capital Summary level 3 $300

57A(3) Company failing to disclose on share certificates the class of share or the prohibition or restrictions of voting rights for the share Summary level 3  $300

57B(6) Director knowingly and wilfully allotting shares without the company's prior approval in general meeting Summary level 5 and 6 months -

58(1B) Company reducing share capital in breach of section 58 On indictment      Summary $1250000 and 5 years  $125000 and    12 months -

-

63 Officer of a company concealing the name of a creditor entitled to object to a reduction of capital, or wilfully misrepresenting the nature or amount of the debt or claim On indictment     Summary $150000 and 2 years   level 5 and 6 months -

-

64(5) Company failing to forward a copy of an order of the court to the Registrar under section 64 within 21 days Summary level 3 $300

69(2) Company failing to forward notice of refusal to register a transfer to the parties or otherwise failing to comply with section 69 Summary level 3  $300

70(2) Company failing to issue certificates or debentures on allotment or transfer  (Amended 28 of 2003 s. 119) Summary level 3 $300

71A(9) Company failing to publish notice of issue of replacement certificate Summary  level 3 $300

74A(4) Company failing to keep register of debentures or to give notice of the place where it is kept Summary level 5 $700

75(4) Company refusing to allow inspection or copy of register of debenture holders Summary level 3 $300

81(3) Company failing to register particulars of charge Summary level 5 $1500

82(2) Company failing to register particulars of an existing charge over property acquired Summary level 5 $1500

87(7) Person appointing or ceasing to act as receiver or manager, or entering into or going out of possession as mortgagee, etc., failing to give notice to the Registrar  (Amended 28 of 2003 s. 119) Summary level 3 $300

88(4) Company failing to keep a copy of a charge at the registered office or failing to notify the Registrar where charges are kept Summary level 5 $700

89(4) Company failing to keep a register of charges or failing to notify the Registrar where the register of charges is kept Summary level 5 $700

89(5) Officer knowingly and wilfully permitting the omission of an entry in the register of charges Summary level 5 and 6 months -

90(2)(a) Officer refusing to allow inspection of the register of charges or instruments of charge Summary level 3 $300

91(4) Company incorporated outside Hong Kong failing to register a Hong Kong property charge Summary level 5 $1500

92(3) Company failing to notify the Registrar of registered office Summary level 3  $300

93(3) Company failing to affix its name outside its place of business, etc.

Summary level 3 $300

93(4) Company failing to use its company name, seal, etc., correctly Summary level 3 -

93(5) Officer or other person authorizing the use of improper seal, etc. Summary  level 3 -

95(4) Company failing to keep a register of members or failing to notify place where register is kept Summary level 4 $700

95A(3) Company failing to enter the required statement in the company's register of members  (Added 28 of 2003 s. 119) Summary level 4 $700

96(3) Company failing to maintain index to register of members Summary level 3 $300

98(3) Company refusing inspection of register of members  Summary level 3 $300

99(4) Company failing to supply certificate as to closure of the register of members Summary  level 3 -

103(7) Company keeping register of members outside Hong Kong without licence  Summary level 3 $300

104(7) Company failing to keep a copy of the branch register with the principal register or that copy up to date Summary level 3 $300

109(4) Company failing to comply with requirements for completing and filing annual returns Summary level 5 $700

111(5) (relating to subsections (1) and (2)) Company failing to hold Annual General Meeting Summary level 5 -

111(5) (relating to subsection (4)) Company failing to notify the Registrar of resolution by company to treat a meeting as an Annual General Meeting Summary level 3 $300

114C(3) Officer failing to give notice of the right to proxies with notice of meeting Summary level 3 -

114C(5) Officer authorizing an invitation to appoint proxies at company expense to only some of the members Summary level 3 -

115A(7) Officer failing to circulate members' resolutions, etc. Summary level 5 -

116B(10) Company failing to enter record of resolutions agreed in accordance with section 116B  (Added 46 of 2000 s. 39) Summary Level 3 $300

116BA(2) Director or secretary failing to notify company's auditor of matters under section 116B  (Added 46 of 2000 s. 39) Summary Level 3 -

116BC(5) Sole member failing to provide the company with a written record of his decision  (Added 28 of 2003 s. 119) Summary Level 3 $300

116BC(6) Company failing to enter record of written record of decision provided in accordance with section 116BC  (Added 28 of 2003 s. 119) Summary  Level 3 $300

117(5) Company failing to lodge copies of special resolutions, etc., with the Registrar Summary level 3 $300

117(6) Company failing to lodge copies of special resolutions, etc., with the Registrar Summary level 3 per copy -

119(4) Company failing to enter minutes of certain meetings Summary level 3 $300

119A(3) Company failing to keep minutes, etc., at its registered office or failing to notify the Registrar where they are kept Summary level 5 $700

120(3) Company failing to allow minutes, etc., to be inspected Summary level 3 $300

121(4) Director failing to take reasonable steps to ensure that proper books of account are kept Summary $300000 and 12 months -

122(3) Director failing to take reasonable steps to ensure that accounts are tabled at the Annual General Meeting Summary $300000 and 12 months -

123(6) Director failing to take reasonable steps to ensure that accounts tabled at the Annual General Meeting comply with section 123 Summary $300000 and 12 months -

124(3) Director failing to take reasonable steps to ensure that group accounts tabled at the Annual General Meeting comply with section 124 Summary  $300000 and 12 months -

128(6) Company failing to satisfy obligation imposed under section 128(5) or (5A)  (Amended 28 of 2003 s. 119) Summary level 6 $300

129(6) Company failing to satisfy obligation imposed under section 129(5) or (5A)  (Amended 28 of 2003 s. 119) Summary level 6 $300

129B(3) Company failing to have balance sheet signed before issue, etc. Summary  level 4 -

129C(3) Company failing to annex required documents to balance sheet before issue, etc. Summary $150000 -

129F Director failing to take reasonable steps to secure compliance with sections 129D and 129E Summary $150000 and 6 months -

129G(3) (relating to subsection (1) or (2A)) Company failing to circulate balance sheet, etc., to members or to supply a copy of a statement Summary level 3 -

129G(3)

(relating to subsection (2)) Company failing to supply a copy of last balance sheet on request of a member, etc. Summary level 5 $300

131(7) Company failing to give notice of resolution to remove an auditor Summary  level 3 $300

133(2) Subsidiary or holding company failing to give auditors information Summary level 3

-

134(1) Officer recklessly or knowingly making false statements, etc., to auditors On indictment

Summary $150000 and 2 years

level 5 and 6 months -

-

140A(7) Company failing to give notice of resignation, etc., of auditor On indictment

Summary $150000 and 2 years

level 5 and 6 months -

-

140B(3) Director failing to convene a meeting on the requisition of the auditor On indictment

Summary $150000 and 2 years level 5 and 6 months -

-

141CA(2) Company sending copy of summary financial report in place of copy of relevant financial documents in contravention of section 141CA(1)

(Added 27 of 2001 s. 8) Summary level 3 -

141CC(3) Company sending copy of summary financial report in contravention of section 141CC(1)  (Added 27 of 2001 s. 8) Summary level 3 -

141CC(3) Company sending copy of relevant financial documents in contravention of section 141CC(2)  (Added 27 of 2001 s. 8) Summary level 3 -

141CD(3) Company failing to comply with request for copy of relevant financial documents  (Added 27 of 2001 s. 8) Summary level 5 $300

141CE(2) Company sending copy of summary financial report where there is in existence any of the events mentioned in section 141CE(1)  (Added 27 of 2001 s. 8) Summary level 5 -

141CF(3)(a) Company circulates, issues or publishes copy of summary financial report which does not comply with requirements referred to in section 141CF(1)  (Added 27 of 2001 s. 8) Summary $300000 -

141CF(3)(b) Officer circulates, issues or publishes copy of summary financial report which does not comply with requirements referred to in section 141CF(1)  (Added 27 of 2001 s. 8) Summary $300000   and   12 months -

141D(4) Director failing to take reasonable steps to ensure directors' report is attached to balance sheet Summary level 5 and 6 months -

152A(4) Company, etc., failing to produce books, etc., to Financial Secretary when required under section 152A Summary level 5 and 6 months -

152B(4) Person interfering with execution of a search warrant issued under section 152B Summary level 5 and 6 months -

152C(2) Person disclosing information gathered under section 152A contrary to section 152C On indictment      Summary $150000 and 2 years level 5 and 6 months -

-

152D(1) Person destroying, etc., documents required under section 152A On indictment   Summary $1500000 and 3 years    $150000 and 12 months -

-

152E Person falsifying documents required under section 152A On indictment     Summary  $1500000 and 3 years    $150000 and 12 months -

-

152FC(3) Person disclosing or using information or document obtained as a result of an inspection under section 152FA contrary to section 152FC(1) or (2)  (Added 30 of 2004 s. 2) On indictment Summary $150000 and    2 years    level 5 and 6    months -

-

153(3) Company (not being a private company) failing to have at least 2 directors  (Amended 28 of 2003 s. 119) Summary level 3 $300

153A(3) Private company failing to have at least one director  (Added 28 of 2003 s. 119) Summary level 3 $300

153C(4) Sole director failing to provide the company with a written record of his decision  (Added 28 of 2003 s. 119) Summary level 3 $300

153C(5) Company failing to enter record of written record of decision provided in accordance with section 153C  (Added 28 of 2003 s. 119) Summary  level 3 $300

155(5) Unqualified person acting as a director Summary level 3 $300

155A(5) Director failing to take reasonable steps to prevent the carrying into effect of proposals specified in section 155A without the approval of the company in general meeting Summary level 5 and 6 months -

155B(3) Director failing to give notice of material interest in a matter, the subject of a resolution to be discussed at a general meeting or meeting of a class of members, which affects the matter differently from the interest of the company Summary level 6 -

155B(4) Company failing to give notice of a director's material interest in a matter, the subject of a resolution to be discussed at a general meeting or meeting of a class of members, which affects the matter differently from the interest of the company Summary level 6 -

156(1) Undischarged bankrupt acting as a director, etc. On indictment

Summary $700000 and 2 years

$150000 and

12 months -

-

157J(3) Company entering into a transaction or arrangement contrary to section 157H  (Amended 28 of 2003 s. 119) On indictment

Summary $150000 and   2 years

level 5 and 6 months -

-

158(8) Company refusing to permit inspection of register of directors and secretaries or failing to keep or maintain the register Summary level 3 $300

158A(3) Company failing to keep register of directors and secretaries at registered office or failing to notify the Registrar of place where register is kept Summary level 5 $700

158B(2) Director, etc., defaulting in giving notice to the company of such matters required under section 158  (Amended 75 of 1993 s. 23) Summary level 6  $550

159(3) Director, etc., defaulting in giving notice that liability of a director, etc., is, by provision in the memorandum, unlimited before the position is filled Summary level 4 -

161A(2) Director failing to take all reasonable steps to ensure amounts required to be included in the company's accounts, etc., show the previous year's equivalent amount Summary level 5 and 6 months -

161BA(7) Director failing to take all reasonable steps to ensure the company, if an authorized financial institution, maintains a register of agreements Summary level 5 and 6 months -

161BA(11) Company failing to permit inspection or to send a copy as required of the register of agreements for an authorized financial institution Summary level 3 $300

161BB(3) Director failing to take all reasonable steps to ensure the company keeps a register of particulars relating to quasi-loans and credit transactions, etc.  (Added 28 of 2003 s. 119) Summary level 5 and 6 months -

161BB(7) Company failing to permit inspection or to send a copy as required of the register of particulars relating to quasi-loans and credit transactions, etc.  (Added 28 of 2003 s. 119) Summary level 3 $300

161C(3) Director or shadow director failing to disclose matters required under section 161 or 161B  (Amended 28 of 2003 s. 119) Summary level 5 -

162(3) Director failing to disclose material interest in a contract Summary level 5  -

162A(2) Company failing to disclose, etc., management contract relating to the management of the whole or a substantial part of company business Summary level 3  $300

162B(3) Company having one member who is also a director failing to set out in a written memorandum the terms of a contract with that member  (Added 28 of 2003 s. 119) Summary level 3 $300

163B(2) Director, etc., failing to disclose payment for loss of office, etc., in connection with transfer of shares in company Summary level 5 -166(4) Company failing to deliver order sanctioning compromise to the Registrar Summary level 1 per copy -

166A(4) Company failing to give statement of effect of compromise, etc.,

with notice of meeting or where notice is by advertisement, failing to give notice of place of meeting or place where such details may be obtained  Summary level 5 -

166A(5) Director, etc., failing to give details of matters relating to himself relevant to section 166A Summary level 5 -

167(3) Company failing to give notice of an order under section 167 to the Registrar Summary level 3 $300

168A(4) Specified corporation failing to give the Registrar an office copy of an order altering, etc., the specified corporation's memorandum or articles on petition of a minority group  (Amended 30 of 2004 s. 2) Summary  level 3 $300

168M Person contravening a disqualification order  (Added 30 of 1994 s. 12) On indictment Summary $100000 and 2 years

$25000 and 6 months  --

190(5) Person failing to comply with requirements to give information, etc., to liquidator under section 190  (Amended 46 of 2000 s. 39) Summary level 5 $300

227(3) Liquidator failing to deliver dissolution order to the Registrar Summary level 5  $300

228A(4) Director signing a winding-up statement without having reasonable grounds for the opinion that the company cannot by reason of its liabilities continue its business, or to consider that the winding up should be commenced under section 228A because it is not reasonably practicable for it to be commenced under another section of the Ordinance  (Added 28 of 2003 s. 119) Summary level 5 and 6 months -

228A(6) (relating to subsection (5)(b)) Director failing to appoint a provisional liquidator forthwith after delivery of winding-up statement to the Registrar  (Added 28 of 2003 s. 119) Summary level 5 -

228A(6) (relating to subsection (5)(c)) Director failing to cause meetings of the company or creditors to be summoned within 28 days after delivery of winding-up statement  (Added 28 of 2003 s. 119) Summary level 5 -

228A(13) (relating to subsection (10)) Provisional liquidator failing to deliver to the Registrar the notice of appointment required under section 228A(10)  (Added 28 of 2003 s. 119) Summary level 3 $200

228A(13) (relating to subsection (11)(a)) Person ceasing to act as provisional liquidator failing to publish in the Gazette the notice required under section 228A(11)(a)  (Added 28 of 2003 s. 119) Summary level 3 $200

228A(13) (relating to subsection (11)(b)) Person ceasing to act as provisional liquidator failing to deliver to the Registrar the notice required under section 228A(11)(b)  (Added 28 of 2003 s. 119) Summary level 3 $200

228A(13) (relating to subsection (12)) Provisional liquidator failing to deliver to the Registrar the notice of change of particulars required under section 228A(12)  (Added 28 of 2003 s. 119) Summary level 3 $200

229(2) Company failing to advertise in the Gazette notice of resolution to wind up voluntarily Summary level 3 $300

233(3) Director signing a certificate that company being wound up voluntarily can meet its debts within the time set out in the certificate without having reasonable grounds to do so  (Amended 28 of 2003 s. 119) Summary  level 5 and 6 months -

237A(3) Liquidator failing to call a meeting on forming the opinion that a company in voluntary liquidation will not be able to meet its debts within the time stated in the certificate of solvency issued under section 233  (Amended 28 of 2003 s. 119) Summary level 3 -

238(2) Liquidator failing to call a general meeting at the end of any year  Summary level 3 -

239(3) Liquidator failing to send the Registrar a copy of accounts, etc., on completion of the winding up Summary level 3 $300

239(5) Person failing to deliver an office copy of an order under section 239 to the Registrar for registration Summary level 3 $300

239(6) Liquidator failing to call a final general meeting under section 239  Summary level 3 -

241(6) Company, etc., failing to comply with the requirements to call creditors' meeting, etc., after a meeting which proposes to wind up the company voluntarily Summary level 5 -

247(2) Liquidator failing to call annual meeting of creditors Summary level 3 -

248(3) Liquidator failing to send copy account or return of holding of final meeting to the Registrar Summary level 3 $300

248(5) Person failing to deliver an office copy of an order under section 248 to the Registrar for registration Summary level 3 $300

248(6) Liquidator failing to call a general meeting of the company or of creditors as required by section 248 Summary level 3 -

253(4) (relating to subsection (1)(a)) Liquidator failing to publish in the Gazette the notice of appointment required under section 253(1)(a)  (Added 28 of 2003 s. 119) Summary level 3 $300

253(4) (relating to subsection (1)(b)) Liquidator failing to deliver to the Registrar the notice of appointment required under section 253(1)(b)  (Added 28 of 2003 s. 119) Summary level 3 $300

253(4) (relating to subsection (2)(a)) Person ceasing to act as liquidator failing to publish in the Gazette the notice required under section 253(2)(a)  (Added 28 of 2003 s. 119) Summary level 3 $300

253(4) (relating to subsection (2)(b)) Person ceasing to act as liquidator failing to deliver to the Registrar the notice required under section 253(2)(b)  (Added 28 of 2003 s. 119) Summary level 3 $300

253(4) (relating to subsection (3)) Liquidator failing to deliver to the Registrar the notice of change of particulars required under section 253(3)  (Added 28 of 2003 s. 119) Summary level 3 $300

271(1) (relating to paragraph (o)) Officer, etc., failing to comply with section 271 (offences by officers of companies in liquidation) On indictment Summary 5 years

2 years -

-

271(1) (relating to any other paragraph) Officer, etc., failing to comply with section 271 (offences by officers of companies in liquidation) On indictmentSummary $150000 and 2 years level 5 and 6 months --

272 Officer, etc., falsifying, etc., books, etc. On indictmentSummary $150000 and 2 years level 5 and 6 months --

273 Officer acting with intent to defraud creditors by giving, etc., or concealing, etc., property of company in liquidation On indictment Summary $150000 and 2 years level 5 and 6 months --

274(1) Officer failing to keep books for the 2 years prior to winding up of company On indictmentSummary $150000 and 2 years level 5 and 6 months --

275(3) Person being a party to carrying on the business of a company with intent to defraud creditors On indictmentSummary Fine (unlimited) and 5 years

$150000 and 12 months --

278 Undischarged bankrupt or body corporate acting as liquidator Summary $150000 - 278A Person corruptly inducing appointment of liquidator Summary $150000 -

280(2) Company, etc., failing to notify on invoice, etc., that it is in liquidation Summary level 3 -

283(4) Person contravening general rules made for the destruction, etc., of books, etc., of liquidated company Summary level 3 -

284(3) Liquidator failing to send prescribed particulars with respect to the proceedings in and position of the liquidation during the liquidation to the Registrar  Summary level 3 $700

290(2) Person failing to deliver an office copy of an order under section 290 to the Registrar for registration Summary level 3 $300

291AA(14) Person giving false or misleading information in connection with application for deregistration  (Added 30 of 1999 s. 38) Summary level 6 and 6 months -

292(5) Former director failing to keep books and papers of dissolved company  (Added 30 of 1999 s. 38) Summary level 3 -

297(2) Body corporate acting as a receiver Summary level 5 -

297A Undischarged bankrupt acting as a receiver On indictmentSummary $150000 and 2 years level 5 and 6 months --

299(2) Company, etc., authorizing, etc., the issue of invoices, etc., without reference to its being in receivership, etc. Summary level 3 -

300A(7) Receiver failing to give  notices, etc., as required under section 300A Summary level 3 $300

300B(5) Persons defaulting in complying with requirements of section 300B (special provisions as to statement submitted to receiver) Summary level 3 $300

301(2) Receiver, etc., failing to deliver accounts to the Registrar Summary level 3 $300

337B(7) Overseas company carrying on business after being given notice under section 337B  (Replaced 60 of 1990 s. 10) Summary level 6 and 6 months $700

340 Overseas company failing to comply with Part XI  Summary level 5 $700

342CA(3) Amendment of prospectus consisting of one document not done in compliance with Part 2 of the Twentieth Schedule  (Added 30 of 2004 s. 2)  Summary level 6 -

342CB(4) Amendment of prospectus consisting of more than one document not done in compliance with Part 2 of the Twenty-first Schedule  (Added 30 of 2004 s. 2)

Summary level 6 -

342D Person responsible for issue, etc., of prospectus, etc., contravening sections 342 to 342C  <* Note - Exp. X-Ref.: Sections 342, 342A, 342B, 342C *> Summary $150000 -

342F(1) Authorizing the issue, circulation or distribution in Hong Kong of a prospectus relating to shares in or debentures of an overseas company containing an untrue statement  (Added 86 of 1992 s. 20) On indictmentSummary $550000 and 3 years $150000 and 12 months --

348C(4) Company failing to take adequate precautions against falsification, etc., of registers, etc. Summary level 3 $300

349 Person making a false statement  Summary level 6 and 6 months -

349A(1) Person dishonestly destroying, etc., registers On indictment 7 years -

349A(2) Person wilfully or maliciously destroying, etc., registers On indictmentSummary $150000 and 2 years

level 5 and 6 months -

-

350 Person improperly using "Limited", etc. Summary level 3 $300

350A Company failing to state paid-up capital at the time of stating authorized capital Summary level 3 -

360J Person obstructing Official Receiver Summary $150000 and 6 months - (Twelfth Schedule added 7 of 1990 s. 4. Amended 77 of 1991 s. 8; 30 of 1994 s. 12; 84 of 1995 s. 8; L.N. 306 of 1996; 3 of 1997 s. 62; 28 of 2003 s. 119)

Our latest offshore news
30/09/2006
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on Offshore Companies, Incorporations,
Jurisdictions, etc..
23/10/2007
A company operating in Hamburg, Beiersdorf Aktiengesellschaft has recently announced entering a share purchase agreement with a BVI-incorporated Global Source Investments Limited and Hong Kong-incorporated C-BONS Holding (International) Limited.
02/07/2007
Hong Kong Financial Secretary Henry Tang suggests that issuing renminbi-denominated financial bonds in Hong Kong will reinforce its banking status. Monetary Authority Chief Executive Joseph Yam has also commented on this issue.
20/06/2007
According to the data released by the Census & Statistics Department of Hong Kong, the BVI is one of the top destinations for Hong Kong's external factor income outflow and inflow in Quarter 1 of 2007.
15/06/2007
The government of Hong Kong has published its final report on the public consultation on tax reform to provide recommendations about exploring some options aimed at the development and enlargement of narrow tax base in Hong Kong.
02/06/2007
On May 28, 2007, the launch of Unsolicited Electronic Messages Ordinance from June 1 was announced by Hong Kong's Commerce, Industry & Technology Bureau. The Ordinance is to be carried out in 2 phases.
20/05/2007
At the Swiss Private Bankers' Association's meeting, Hong Kong Financial Secretary Henry Tang invited swiss bankers to use Hong Kong as a regional base for managing their businesses in Asia.
12/05/2007
At the Hong Kong Economic and Trade Office Seminar named "Hong Kong - New Opportunities as an International Financial Centre", Joseph Yam announced a strategy to make a greater Hong Kong's contribution to the reform and liberalisation of the Mainland China and to maintain the status of Hong Kong as an international financial centre.
27/04/2007
On April 25, 2007, Hong Kong Financial Secretary Henry Tang told legislators that from 2004 to 2005 growth in Hong Kong's combined fund-management business was on 25%.
12/04/2007
According to the Global Financial Centers Index (GFCI), Hong Kong is the 3rd most competitive financial centre in the world.
30/03/2007
India's largest public sector bank in terms of aggregate business, Canara Bank announced that it is opening the 1st branch in Hong Kong, which is an expanding move for the bank.
12/03/2007
At the 14th APEC SME Ministerial Meeting, Director-General of the Hong Kong Trade & Industry department, stated that Hong Kong's favourable business environment is underpinned by the rule of law, free flow of capital and information, a low and simple tax regime, an independent judiciary and an efficient government.
21/02/2007
According to the announcement made by the Hong Kong Monetary Authority (HKMA) on February 7, 2007, Hong Kong's official foreign currency reserve assets amounted to the total of USD 133.7 billion in the end of January 2007.
09/02/2007
Hong Kong Monetary Authority announced the amount of official foreign currency reserve assets on the end of January 2007, which totalled at USD 133.7 billion.
01/02/2007
Rewrite of the Companies Ordinance will bring substantial benefits to Hong Kong, especially in strengthening competitiveness of the jurisdiction and its status as a global business and financial centre.
29/01/2007
Hong Kong is to receive benefits from increased links with the market of mainland China, as stated by Hong Kong Monetary Authority Chief Executive.
26/01/2007
New Anti-Money Laundering rules are introduced by Hong Kong's Security Bureau. Customers' identities and record transactions of HK$ 8 000 dollars or more must be verified by remittance agents and money changers.
17/01/2007
The Heritage Foundation has ranked Hong Kong as the freest economy in the world for the 13th consecutive year. It is followed by Singapore and Australia.
06/01/2007
Comparing to 2005, property sale and purchase agreements in Hong Kong in 2006 fell 19.9%. This fact was released on January 4, 2007 by the Land Registry.
03/01/2007
Financial Secretary of Hong Kong, Henry Tang understands people's high expectations for the 2007-2008 Budget, however, he suggests the necessity of a balance between the interests of different parties when devising it.
21/12/2006
In November, inflation in Hong Kong accelerated to 2.2% on higher clothing, housing and food prices. To compare this figure, the Census and Statistics Department indicates 2% inflation in October.
08/11/2006
According to the IMF, the economy of Hong Kong is expected to grow by 6% this year and maintain growth of 5% in 2007. The IMF stated that growth prospects will depend on the management and expanding the evolving financial integration with the Mainland.
30/10/2006
In Hong Kong, two new banking regulations have been gazetted to be tabled at the Legislative Council on November 1. These are the Banking (Capital) Rules and Banking (Disclosure) Rules. The rules are to be in force from January 1, 2007.
18/10/2006
According to the UN's World Investment Report 2006, Hong Kong attracted USD 35.9 billion in foreign direct investment (FDI) last year, up 5.6% on 2004. So, Hong Kong is the 2nd-largest FDI destination in Asia after China, which amassed USD 72.4 billion.
16/10/2006
Hong Kong is likely to refuse discussing joining the EU's tax information-sharing scheme applied under the Savings Tax Directive. The EU would like to sign the Agreement and include information-sharing there.
25/11/2007
Recently, the Seychelles International Business Authority has sponsored Asia Offshore Association (AOA) Conference in Vietnam, and International Tax Planning Association (ITPA) meeting in Hong Kong.