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The number of new local companies incorporated under the Companies Ordinance showed an increase of 11.74% from 73,359 in 2005 to 81,974 in 2006, according to the annual statistics released by the Companies Registry today (January 30).
The number of new overseas companies that had established a place of business in Hong Kong and registered under Part XI of the Companies Ordinance in 2006 was 608, a decrease of 1.94% from 620 in 2005.
The total number of live companies registered under the Companies Ordinance was 591,944, up 42,712 from the end of 2005. The total number of overseas companies registered under Part XI of the Companies Ordinance stood at 7,709 at the end of the year, 221 more than 2005.
The number of charges on the assets of companies received in 2006 decreased by 9.32%, from 33,470 to 30,349. The number of satisfactions and releases received decreased by 19.64% to 21,653 in 2006.
During the period, a total of 234 prospectuses, including 93 mutual funds, were registered in 2006, compared with 269 prospectuses, including 96 mutual funds, in 2005.
The total number of documents received for filing during the year increased by 4.88%, to 1,730,040 from 1,649,466.
A total of 2,706,566 public searches on document image records (on a per document basis) were made during the year through the Companies Registry's Electronic Search Services, compared with 2,194,243 made between February 28 and December 31 in 2005.
Regarding the search services on the computerised database in 2006, the number of searches on the computerised Index of Directors increased by 13.52%, to 152,114 from 133,996. The number of Company Particulars Reports issued increased by 13.75%, to 122,705 from 107,872.
The Registry has continued to strengthen its efforts in enforcing compliance with the provisions of the Companies Ordinance and has further increased the number of summonses issued during the year.
The total number of summonses issued by the Registrar of Companies last year against companies for breaches of the Companies Ordinance, mainly for failure to file annual returns was 6,028, an increase of 74.12% from 3,462 in 2005.
There were 2,294 convictions obtained during the year, compared with 1,467 in 2005 and 833 cases remain to be heard by the court, compared with 541 in 2005. The total amount of fines imposed for convictions in 2006 was $13,709,579, compared with $9,583,881 in 2005.
Ends/Tuesday, January 30, 2007
Issued at HKT 14:31
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