Interpretation Registrar to Specify Forms References to Parent Company Forming Incorporated Company Requirements to Memorandum Powers of a Company Power Limited by Memorandum Exclusion of Deemed Notice Signature of Memorandum Memorandum Alteration Alteration of Objects Regulations for Companies Regulations for Unlimited Company Adoption and Application of Table A Printing and Signature of Articles Alteration of Articles Statutory Forms of M & AA Registration of M & AA Effect of Registration Power of Company to Hold Lands Certificate of Incorporation Unlimited Companies Reregistration Company Name Restrictions Power to Dispense Change of Name Company's Misleading Name Specification of Names Index of Company Names Effect of Memorandum & Articles Companies Limited by Guarantee Alterations in Memorandum & Articles Power to Alter Conditions Copies of Memorandum & Articles Issued Copies of Memorandum Definition of Member Membership of Holding Company Meaning of Private Company Private Company Privileges Form of Contracts Pre-incorporation Contracts Bills of Exchange & Promissory Notes Execution of Deeds Abroad Power to Have Official Seal Authentication of Documents Dating of Prospectus Specific Requirements Exemption from Compliance Advertisements on Prospectuses Publishing Guildelines by Commission Expert's Consent Registration of Prospectus One Document Prospectus More Than One Document Prospectus Submission of Certified Copies Civil liability for Misstatements Criminal Liability for Misstatements Right to Damages and Compensation Offer of Shares or Debentures Interpretation of Provisions Prohibition of Allotment: Subscription Prohibition of Allotment: Statement Effect of Irregular Allotment Applications for Shares & Debentures Allotment of Shares and Debentures Return as to Allotments Power to Pay Commissions Financial assistance prohibited Definitions Transactions not prohibited by 47A Restriction for Listed Companies Section 47A for Unlisted Companies Statement Under Section 47E Special Resolution Under Section 47E Financial assistance under section 47E Offering Shares to the Public Premiums on Issue of Shares Merger Relief Relief of Group Reconstructions Provisions to Sections 48C and 48D Relief from Section 48B Power to Issue Redeemable Shares Financing of Redemption Company Power to Purchase Shares Requirements for Listed Company Payments Apart From Purchase Price Authority for Purchase Authority for Purchase Contract Assignment of Right to Purchase Shares Disclosure of Share Purchase Capital Redemption Reserve Power to Redeem Shares out of Capital Availability of Profits Conditions for Payment out of Capital Procedure for Special Resolution Publicity for Proposed Payment Objections by Company's Members Powers of Court on Application Effect of Company's Failure to Redeem Power to Modify Certain Sections Transitional Cases: Sections 49 to 49S Definitions for Sections 49 to 49R Power to Issue Shares at a Discount Arrangement for Amounts Paid on Shares Reserve Liability of Limited Company Power to Alter Share Capital Share Capital Consolidation Notice of Increase of Capital Reserve Share Capital on Re-registration Power of Company to Pay Interest Non Voting Shares Approval for Allotment of Shares Validation of Shares Improperly Issued Resolution for Share Capital Reduction Application for Confirming Order Order Confirming Reduction Registration of Order Registration of Special Resolution Liability of Members Concealing Name of Creditor Variation of rights Rights of Shareholders Documents on Shareholder Rights Nature of Shares Numbering of Shares Transfer not to be Registered Transfer by Personal Representative Registration of Transfer Notice of Refusal to Register Transfer Certification of Transfers Issue of Certificates Certificate to be Evidence of Title Replacement of Lost Certificate Evidence of Grant of Probate Share Warrants to Bearer Official Seals for Share Certificates Making Compensation for Losses Register of Debenture Holders Provision of Instrument Register of Debenture Holders Meetings of Debenture Holders Liability of Trustees Perpetual Debentures Power to Re-issue Redeemed Debentures Contracts to Subscribe for Debentures Payment of Certain Debts Interpretation Certain Distributions Prohibited Restriction on Distribution of Assets Exemption of Certain Companies Realised Profits of Insurance Company Distribution to Be Justified Last Annual Accounts Requirement for Interim Accounts Requirements for Initial Accounts Method of Applying Section 79F Treatment of Assets Distributions in Kind Consequences of Unlawful Distribution Saving for Provision in Articles Application to Certain Companies Saving for Other Distribution Restraints Registration of Charges Charges Created by the Company Charges Existing on Property Charges to be Kept by Registrar Entries of Satisfaction Extension of Time for Registration Appointment of Receiver or Manager Copies of Instruments Company's Register of Charges Right to Inspect Instrument Copies Application of Part III Registered Office of Company Publication of Name of Company Adequacy of Certain Descriptions Register of Members Company Statement Index of Members of Company Entries in Register to Share Warrants Inspection of Register of Members Failure to Comply with Requirements Power to Close Register of Members Power of Court to Rectify Register Trusts not Entered on Register Register to be Evidence Keeping Branch Register Regulations as to Branch Register Registers of Oversea Companies Company Annual Return General Provisions: Annual Returns Certificates Sent by Private Company Annual General Meeting Extraordinary General Meeting Notice for Calling Meetings Meetings and Votes Quorum: One Company Member Power of Court to Order Meeting Proxies Right to Demand a Poll Voting on a Poll Representation of Companies Circulation of Members' Resolutions Special Resolutions 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Auditor's Report and Rights Construction of References Restrictions on Financial Reports Notices of Intent Relevant Dates Duties of Listed Companies Financial Reports not to be Sent Form and Contents of Reports Prohibition Orders Compliance with Section 129G Requirements as to Accounts Investigation of Company Affairs Company Affairs in Other Cases Power of an Inspector Documents on Investigation Delegation of Powers by Inspector Power to Call for Director's Accounts Inspector's Report Extension of Secretary's Powers Proceedings on Inspector's Report Expenses of Investigation Inspector's Report to be Evidence
Companies Ordinance Cap 32

Section Num: 8      Version Date 13/02/2004

Mode in which and extent to which objects may be altered

(1) A company may, by special resolution of which notice has been duly given to all the members of the company (including, for the purposes of this section, members who are not entitled to such notice under the articles of the company), alter the conditions of its memorandum with respect to the objects of the company by abandoning or restricting any of those objects or by adopting any new object which could lawfully have been contained in the memorandum at the time of its registration:

Provided that, where a private company passes such a resolution, an application may be made to the court in accordance with subsections (2) to (5) for the alteration to be cancelled, and if such an application is made, the alteration shall not have effect except in so far as it is confirmed by the court.  (Replaced 6 of 1984 s. 8. Amended 28 of 2003 s. 5)

(2) An application under this section may be made-

(a) by the holders of not less in the aggregate than 5 per cent in nominal value of the company's issued share capital or any class thereof or, if the company is not limited by shares, not less than 5 per cent of the company's members; or

(b) by the holders of not less than 5 per cent of the company's debentures entitling the holders to object to alterations of its objects.

(3) An application under this section shall be made within 28 days after the date on which the resolution altering the company's objects was passed, and may be made on behalf of the persons entitled to make the application by such one or more of their number as they may appoint in writing for the purpose.

(4) On an application under this section the court may make an order confirming the alteration either wholly or in part and on such terms and conditions as it thinks fit, and may, if it thinks fit, adjourn the proceedings in order that an arrangement may be made to the satisfaction of the court for the purchase of the interests of dissentient members, and may give such directions and make such orders as it may think expedient for facilitating or carrying into effect any such arrangement.

(5) The debentures entitling the holders to object to alterations of a company's objects shall be any debentures secured by a floating charge that were issued or first issued before 15 February 1963, or form part of the same series as any debentures so issued, and a special resolution altering a company's objects shall require the same notice to the holders of any such debentures as to members of the company.

In default of any provisions regulating the giving of notice to any such debenture holders, the provisions of the company's articles regulating the giving of notice to members shall apply.

(6) (Repealed 6 of 1984 s. 8)

(7) Where a private company passes a resolution altering its objects-  (Amended 28 of 2003 s. 5)

(a) if no application is made with respect thereto under this section, it shall within 15 days after the end of the period for making such an application deliver to the Registrar a printed copy of its memorandum as altered and certified as correct by an officer of the company; and

(b) if such an application is made it shall-

(i) forthwith give notice of that fact to the Registrar; and

(ii) within 15 days after the date of any order cancelling or confirming the alteration, deliver to the Registrar an office copy of the order and, in the case of an order confirming the alteration, a printed copy of its memorandum as altered and certified as correct by an officer of the company.  (Amended 28 of 2003 s. 5)

The court may by order at any time extend the time for the delivery of documents to the Registrar under paragraph (b) of this subsection for such period as the court may think proper.

(7A) Where a company (not being a private company) passes a resolution altering its objects, it shall, within 15 days after the date on which the resolution was passed, deliver to the Registrar a printed copy of its memorandum as altered and certified as correct by an officer of the company.  (Added 28 of 2003 s. 5)

(8) If a company makes default in giving notice or delivering any document to the Registrar as required by subsection (7) or (7A), the company and every officer of the company who is in default shall be liable to a fine and, for continued default, to a daily default fine.  (Amended 7 of 1990 s. 2; 28 of 2003 s. 5)

(9) In relation to a resolution for altering the conditions of a company's memorandum with respect to the objects of the company passed before the commencement* of the Companies (Amendment) Ordinance 1984 (6 of 1984), the provisions of this section in force immediately before such commencement shall continue to have effect as if that Ordinance had not been enacted.  (Replaced 6 of 1984 s. 8)

(10) In relation to a resolution for altering the conditions of a company's memorandum with respect to the objects of the company that is passed by a company (whether a private company or not) after the commencement* of the Companies (Amendment) Ordinance 1984 (6 of 1984) and before the commencement** of section 5 of the Companies (Amendment) Ordinance 2003 (28 of 2003), the provisions of this section in force immediately before the commencement** of section 5 of the Companies (Amendment) Ordinance 2003 (28 of 2003) shall continue to have effect as if section 5 of that Ordinance had not been enacted.  (Added 28 of 2003 s.

5) (Replaced 4 of 1963 s. 3. Amended 6 of 1984 s. 8)

[cf. 1929 c. 38 s. 5 U.K.]

__________________________________________________________________________

___

Note:

* Commencement date: 31 August 1984.

** Commencement date: 13 February 2004.

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