Part ii regulations for the management of a private

Info icon This preview shows pages 22–24. Sign up to view the full content.

View Full Document Right Arrow Icon
PART II REGULATIONS FOR THE MANAGEMENT OF A PRIVATE COMPANY LIMITED BY SHARES 1. The regulations contained in Part I of Table A (with the exception of regulations 24 , 47A and 47B ) shall apply. (Amended L.N. 188 of 1993) 2. The company is a private company and accordingly- (a) the right to transfer shares is restricted in manner hereinafter prescribed ; (b) the number of members of the company (exclusive of persons who are in the employment of the company and of persons who having been formerly in the employment of the company were while in such employment and have continued after the determination of such employment to be members of the company ) is limited to 50. Provided that where 2 or more persons hold one or more shares in the company jointly they shall for the purpose of this regulation be treated as a single member; (c) any invitation to the public to subscribe for any shares or debentures of the company is prohibited; (d) the company shall not have power to issue share warrants to bearer. 2A. Subject to sections 49 to 49S of the Ordinance, the company may purchase its own shares (including any redeemable shares ). <* Note - Exp. X-Ref.: Sections 49 , 49A , 49B , 49BA , 49C , 49D , 49E , 49F , 49G , 49H , 49I , 49J , 49K , 49L , 49M , 49N , 49O , 49P , 49Q , 49R , 49S *> (Added L.N. 188 of 1993) 2B. Subject to sections 49I to 49O of the Ordinance, the company may make a payment in
Image of page 22

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
respect of the redemption or purchase of its own shares otherwise than out of the distributable profits of the company or the proceeds of a fresh issue of shares . <* Note - Exp. X-Ref.: Sections 49I , 49J , 49K , 49L , 49M , 49N , 49O *> (Added L.N. 188 of 1993) 3. The directors may, in their absolute discretion and without assigning any reason therefor, decline to register any transfer of any share , whether or not it is a fully paid share . Note: Regulations 2A and 2B of this Part are alternative to regulations 47A and 47B of Part I, and regulation 3 of this Part is alternative to regulation 24 of Part I. (Replaced L.N. 188 of 1993) _______________ TABLE B [sections 4, 14 & 360] (Amended 28 of 2003 s. 115) FORM OF MEMORANDUM OF ASSOCIATION OF A COMPANY LIMITED BY SHARES 1st. The name of the company is "The Kwun Tong Electronics Manufacturing Company Limited (本本本本本本本本本本本)". 2nd. The registered office of the company will be situated in Hong Kong. 3rd. The objects for which the company is established are [ If the objects are being stated, they should be set out here ]. (Amended 3 of 1997 s. 56) 4th. The liability of the members is limited. 5th. The share capital of the company is $15000000 divided into $150000 shares of $100 each. WE, the several persons whose names and addresses are given below, wish to form a company , in pursuance of this memorandum of association, and we respectively agree to take the number of shares in the capital of the company set opposite our respective names. Names, Addresses and Descriptions of Signatories Number of Shares taken by each Signatory 1 .
Image of page 23
Image of page 24
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern