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The number of new local companies incorporated under the Companies Ordinance in 2005 was 73,359, an increase of 11.9% from 65,558 in 2004, the Companies Registry's annual statistics revealed today (February 3).
The number of new oversea companies that had established a place of business in Hong Kong and registered under Part XI of the Companies Ordinance in 2005 was 620, a decrease of 15.65% from 735 in 2004.
The total number of live companies registered under the Companies Ordinance was 549,232, up 30,252 from the end of 2004. The total number of oversea companies registered under Part XI of the Companies Ordinance stood at 7,488 at the end of the year, 209 more than 2004.
The number of charges on the assets of companies received in 2005 increased by 10.17%, to 33,470 from 30,380 in the year before. The number of satisfactions and releases received increased by 23.57% to 26,945 in 2005.
During the period, a total of 269 prospectuses, including 96 mutual funds, were registered in 2005, compared with 334 prospectuses, including 174 mutual funds, during the previous year.
The total number of documents received for filing during the year increased by 0.92%, to 1,649,466 from 1,634,452. From January 1 to February 27 last year a total of 225,919 public searches on records in microfiche and paper files were made.
A total of 2,194,243 public searches on document image records (on a per document basis) were made between February 28 and December 31 last year through the Companies Registry's Electronic Search Services.
Regarding the search services on the computerised database in 2005, the number of searches on the computerised Index of Directors decreased by 12.54%, from 153,212 to 133,996. The number of Company Particulars Reports issued increased by 12.93%, to 107,872 from 95,518.
The Registry has expanded its prosecution programme by increasing the number of summonses issued since July 2005.
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 3,462, compared with 1,474 in 2004.
There were 1,467 convictions obtained during the year, compared with 676 in 2004 and 541 cases remain to be heard by the court, compared with 370 in 2004. The total amount of fines imposed for convictions in 2005 was $9,583,881, compared with $5,670,125 in 2004.
Ends/Friday, February 3, 2006
Issued at HKT 11:01
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