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 Restriction on Alteration of Articles Written Resolutions of Companies Duty to Notify Auditors Written Resolutions: Supplementary Written Record Resolutions Requiring Special Notice Certain Resolutions and Agreements Resolutions at Adjourned Meetings Minutes of Proceedings of Meetings Place to Keep Minute Book Inspection of Minute Books Keeping of Books of Account Profit and Loss Account Contents and Form of Accounts Obligation to Lay Group Accounts Form of Group Accounts Contents of Group Accounts Financial Year of Holding Company Particulars in Relation to Subsidiaries Companies not being Subsidiaries Subsidiary Company's Accounts Signing of Balance Sheet Accounts and Auditors' Report Directors' Report Proviso to Section 141C Sections 129D and 129E Right to Receive Copies Appointment & Removal of Auditors Supplementary Provisions Powers of Auditors False Statements to Auditors Disqualifications: Auditor Appointment Resignation of Auditor Right of Auditor who Resigns 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
Chapter: 32  COMPANIES ORDINANCE

Section Num: 129  Version Date 13/02/2004

Particulars to be shown in company's accounts in relation to companies not being subsidiaries whose shares it holds

(1) Subject to the provisions of this section, where, at the end of its financial year, a company holds shares of any class comprised in the equity share capital of another body corporate (not being its subsidiary) exceeding in nominal value one fifth of the nominal value of the issued shares of that class, there shall be shown in the accounts of the company laid before it in general meeting, or in a statement annexed to those accounts, the following particulars-  (Amended 28 of 2003 s. 50)

(a) the name of that other body corporate;

(b) the country in which it is incorporated;

(c) the identity of the class and the proportion of the nominal value of the issued shares of that class represented by the shares held;

and

(d) if the company also holds shares in that other body corporate of another class (whether or not comprised in its equity share capital), or of other classes (whether or not so comprised), the like particulars as respects that other class or, as the case may be, each of those other classes.

(2) If, at the end of its financial year, a company holds shares in another body corporate (not being its subsidiary) and the amount of all the shares therein which it holds (as stated in its accounts laid before it in general meeting) exceeds one tenth of the amount of its assets (as so stated), there shall be shown in those accounts, or in a statement annexed to those accounts, the following particulars-  (Amended 28 of 2003 s. 50)

(a) the name of that other body corporate;

(b) the country in which it is incorporated; and

(c) in relation to shares in that other body corporate of each class held, the identity of the class and the proportion of the nominal value of the issued shares of that class represented by the shares held.

(3) Neither subsection (1) nor subsection (2) shall require the disclosure by a company of information with respect to another body corporate if that other body is incorporated outside Hong Kong or, being incorporated in Hong Kong, carries on business outside Hong Kong if the disclosure would, in the opinion of the directors of the company, be harmful to the business of the company or of that other body and the Financial Secretary agrees that the information need not be disclosed.

(4) If, at the end of its financial year, a company falls within subsection (1) or (2) in relation to more bodies corporate than one, and the number of them is such that, in the opinion of the directors, compliance with that subsection would result in particulars of excessive length being given, compliance with that subsection shall not be requisite except in the case of the bodies, carrying on the businesses the results of the carrying on of which, in the opinion of the directors, principally affected the amount of the profit or loss of the company or the amount of its assets.  (Amended 28 of 2003 s. 50)

(5) Where, in the case of a company not being a private company having a share capital, advantage is taken of subsection (4)-  (Amended 75 of 1993 s. 8)

(a) there shall be added to the particulars, if any, given in compliance with subsection (1) or (2) the information that the particulars deal only with bodies carrying on businesses of the kind referred to in subsection (4); and  (Replaced 28 of 2003 s. 50)

(b) the particulars, if any, given in compliance with subsection (1) or (2), together with those which, but for the fact that advantage is so taken, would have to be so given, shall be set out in a statement in the specified form, which shall be sent to the Registrar at the same time as the annual return first made by the company after its accounts have been laid before it in general meeting is sent to the Registrar.

(Replaced 28 of 2003 s. 50)

(5A) Where, in the case of a private company having a share capital, advantage is taken of subsection (4)-

(a) there shall be added to the particulars, if any, given in compliance with subsection (1) or (2) the information that the particulars deal only with bodies carrying on businesses of the kind referred to in subsection (4); and  (Replaced 28 of 2003 s. 50)

(b) the particulars, if any, given in compliance with subsection (1) or (2), together with those which, but for the fact that advantage is so taken, would have to be so given, shall be set out in a statement in the specified form, which shall be sent to the Registrar within 42 days after its accounts have been laid before it in general meeting.  (Replaced 28 of 2003 s. 50)

(Added 75 of 1993 s. 7)

(6) If a company fails to satisfy an obligation imposed on it by subsection (5) or (5A), 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. 50)

(7) For the purposes of this section-

(a) shares of a body corporate shall be treated as being held, or as not being held, by another such body if they would, by virtue of section 2(4) to (7) (but on the assumption that paragraph (b)(ii) of subsection (6) had been omitted therefrom), be treated as being held or, as the case may be, as not being held by that other body for the purpose of determining whether the first-mentioned body is its subsidiary; and

(b) the proportion of the nominal value of the issued shares of any class represented by the shares held by the company shall be stated by way of a percentage, and any such percentage may be stated to the nearest whole number per cent except where it is between 49% and 50%, in which event it shall be stated to as many decimal places as would be required to indicate the percentage, to one significant figure, of the proportion of the nominal value of the issued shares of that class represented by one share.

(8) In this section "equity share capital" means, in relation to a company, its issued share capital excluding any part thereof which does not, either as respects dividends or as respects capital, carry any right to participate beyond a specified amount in a distribution.

(Replaced 80 of 1974 s. 12)

[cf. 1967 c. 81 s. 4 U.K.]

Our latest offshore news
30/09/2006
Welcome to join our discussions
on Offshore Companies, Incorporations,
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