Hong Kong Law

The new Companies Ordinance of the laws of Hong Kong (Cap. 622) (New Companies Ordinance) came into force on 3 March 2014. The Exchange has published Listing Rule Amendments and Frequently-Asked-Questions…

The New Companies Ordinance (Cap. 622) (the New CO) will come into force on 3 March 2014. Following commencement of the New CO, the current Companies Ordinance (Cap. 32) (the Old CO) will be retitled as the…

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…

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…

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…

Under the Old CO, a private company (other than a company which is a member of a corporate group and certain companies specifically excluded, such as insurance and stock-broking companies) may, with the…

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…

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…

On 28 January 2014, the Exchange published a press release in relation to the censure of a listed company (Company) and its directors for breach of Rule 13.09 of the Listing Rules as previously in force prior to…

The Hong Kong Stock Exchange (the Exchange) has published Guidance Letter GL72-14 (see archive) providing guidance on disclosure in the “Applicable Laws and Regulations” section of IPO listing documents. This…

On 24 January 2014, the Hong Kong Stock Exchange published the following new and updated Guidance Letters: Disclosure requirements for IPO cases – Disclosure of material changes in financial, operational…

It has been a year since the statutory regime for disclosure of inside information came into effect under Part XIVA of the Securities and Futures Ordinance (SFO), which was implemented on 1 January 2013. The…