Pursuant to the amendments of the International Business Companies Act, 2013, the following take effects immediately and have to be adhered to:
1. Issue of Bearer Shares is prohibited and all current bearer shares issued by the company have to be recalled and cancelled within six months and shall issue registered shares in substitution for the cancelled bearer shares. Any bearer shares which have not been recalled and cancelled within that period of six months shall thereafter be null and void and be without effect for the purpose of the law.
2. The share register of an IBC shall be maintained at the registered agent office only.
3. Every company incorporated under the Act, shall by 31st December of each year furnish to the Registered Agent a return in the form of a declaration that:
(i) The company is keeping accounting records in accordance with the Act and that such records can be made available through its registered agents and that the Share Register located at the Registered Office is complete and updated.
We wanted to wish you and your family a relaxing and prosperous holiday season. Looking forward to many great possibilities for 2014 and wishing you a great year ahead.
Have a promising, healthy and fulfilling new year.
your startupr.com team
In United Kingdom, company limited by shares is the most common form of company for trading and doing business. A company limited by shares has a share capital which is divided into a number of shares of certain value each. Some or all of the shares are then held by investors, which are known as the shareholders of the company. If the company is prosperous and makes good profits, the company will then distribute dividend to the shareholders in accordance with their respective shareholdings. If the company suffers a loss, the shareholders will, at the most, lose all their investment in the shares of the company. In other words, their liabilities are limited to the value of the shares.
The most common ways of establishing a charitable organization in United Kingdom are through the use of:
a) A trust
b) A society established under the Societies Ordinance (Cap 151)
c) A company incorporated under the Companies Ordinance (Cap 32)
A company limited by guarantee is a company which is often used as a device for setting up of a club, association, school or charitable body. The liability of its members is limited to the amount which they agree to contribute to its assets in the event of the company being wound up.
The most popular method for establishing a charity is a Company Limited by Guarantee under the Companies Ordinance of United Kingdom (Cap 32), which allows for greater transparency and legitimacy in establishing a charity in United Kingdom. The draft incorporation documents for a United Kingdom company are submitted at the same time as the application for Section 88 of the Inland Revenue Ordinance Cap 112 tax exemption status to the Inland Revenue Department for pre-approval.
Under United Kingdom law a charity must be established exclusively for charitable purposes and as such must fall into the following categories:
a) Relief of poverty;
b) Advancement of education;
c) Advancement of religion; and
d) Other purposes of a charitable nature beneficial to the community not falling under any of above categories. (For example, this may include charities with the purpose of providing care and protection to animals or for the provision of specific medical purposes such as cancer research.)
As being the supporting organization of the “IP Seminar: How to protect your R&D by Patent?” hosted by Hong Kong Science & Technology Parks Corporation, it is our great honour to help them in promoting this seminar. Please see the programme details as below:
|Date||10 December 2013, Tuesday|
|Time||2:30pm – 5:15pm|
|Venue||Conference Hall 01-02, G/F, Core Building 1, Hong Kong Science Park|
n Dr Jasemine C. Chambers, Ph.D., J.D., Wilson Sonsini Goodrich & Rosati
n Mr Andrew Cobden, Consultant, Hogan Lovells
n Mr Peter Colegate, Legal Manager, Hogan Lovells
nMr Melvin Li, Founder and Principal, Melvin Li Intellectual Property Ltd
|Target||Entrepreneurs, Legal experts, Technology-based companies|
|Fee||Free of charge|
|Registration||Please register on or before 5 Dec (Thu) to [email protected] with your company name, first name, surname, job position, tel no. and email address.|
Seats are available on first-come-first-served basis.