Hong Kong Law

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    SFC Proposes Amendments to the Code on REITs

    SFC Proposes Amendments to the Code on REITs

    The Securities and Futures Commission (SFC) is conducting a consultation on allowing Real Estate Investment Trusts (REITs) greater flexibility to invest in properties under development and financial instruments…
    Hong Kong Companies Ordinance-Schemes Amalgamations

    Hong Kong Companies Ordinance-Schemes Amalgamations

    The Old CO provides that where a scheme is proposed between a company and its members or creditors (or any class of them), the court may order a meeting of the members or creditors (or relevant class). If a…
    New Companies Ordinance – Financial Reporting

    New Companies Ordinance – Financial Reporting

    The Old CO allows a listed company to send a summary financial report to its members and debenture holders in place of the accounts, directors’ and auditors’ reports normally required to be sent, provided it…
    New Companies Ordinance – Registration of Charges

    New Companies Ordinance – Registration of Charges

    To remove uncertainty and dispense with redundant items, the following changes have been made under the New CO: a charge on an aircraft or any share in an aircraft is expressly made registrable;a charge on…
    New Companies Ordinance – Share Capital

    New Companies Ordinance – Share Capital

    The New CO adopts a mandatory system of no-par for all Hong Kong companies with a share capital and abolishes the concept of par (or nominal) value of shares. On the commencement of the New CO, a Hong Kong…
    New Companies Ordinance – Changes Affecting Directors

    New Companies Ordinance – Changes Affecting Directors

    The New CO codifies a director’s duty to exercise reasonable care, skill and diligence. Section 465 of the New CO requires a director to exercise reasonable care, skill and diligence, meaning the care, skill…