AI-assisted research summary: This resolution establishes the Companies Registry Trading Fund, sets out the services it will provide, appropriates listed assets to the fund, and specifies repayment terms for part of the funding.
Companies Registry Trading Fund Resolution of the Legislative Council(Format changes—E.R. 2 of 2020) Resolution made and passed by the Legislative Council under sections 3, 4 and 6 of the Trading Funds Ordinance (Cap. 430) on 30 June 1993. Resolved that with effect from 1 August 1993—(a) on the recommendation of the Financial Secretary, the Companies Registry Trading Fund (the trading fund) shall be established to manage and account for the operation of the government service of the Companies Registry;(b) the services to be provided under the trading fund shall be those specified in Schedule 1;(c) the assets set out in column 2 of Schedule 2 shall, subject to any term specified opposite an asset in column 3 of that Schedule, be appropriated to the trading fund;(d) the net value of the assets of $415,160,000 appropriated to the trading fund shall be shown in the Capital Investment Fund— (E.R. 2 of 2020)(i) as to $276,700,000, as a loan; (E.R. 2 of 2020)(ii) as to the balance, as a contribution of trading fund capital;(e) the loan referred to in paragraph (d)(i)—(i) shall be repayable in 10 equal annual instalments of $27,670,000 each, the first such instalment to become due on 1 August 1994; (E.R. 2 of 2020)(ii) shall, as to any balance unpaid, bear interest at a rate equal to the average of the best lending rate quoted by the continuing members of the Committee of The Hong Kong Association of Banks, such interest to be payable annually in arrear. Schedule 1 [para. (b)]Services to be Provided by the Trading Fund 1. Administering and enforcing the provisions of the Companies Ordinance (Cap. 622) and the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32), including facilitating the incorporation of new companies and maintaining registers of companies and charges.(28 of 2012 ss. 912 & 920) 1A. Administering and enforcing the provisions of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615) applicable to a trust or company service business as defined by section 1 of Part 1 of Schedule 1 to that Ordinance.(4 of 2018 s. 39) 2. Administering and enforcing the provisions of the Limited Partnerships Ordinance (Cap. 37), including maintaining the register of limited partnerships. 3. Administering and enforcing the provisions of Part 8 of the Trustee Ordinance (Cap. 29), including maintaining the Register of Trust Companies.(E.R. 2 of 2014) 4. Administering and enforcing the provisions of the Registered Trustees Incorporation Ordinance (Cap. 306), including maintaining the register of incorporated trustees. 4A. Administering and enforcing the provisions of the Securities and Futures Ordinance (Cap. 571) relating to open-ended fund companies, including facilitating the incorporation of, and re-domiciliation in respect of, open-ended fund companies and maintaining a register of open-ended fund companies.(16 of 2016 s. 45; 33 of 2021 s. 38) 4B. Administering and enforcing the provisions of the Limited Partnership Fund Ordinance (Cap. 637) relating to limited partnership funds, including facilitating the registration of limited partnership funds and maintaining a register of limited partnership funds.(14 of 2020 s. 120; E.R. 5 of 2020) 5. Making available, where the Registrar of Companies is so required or permitted by law, information registered or filed with the Registrar. 6. Monitoring the adequacy of the regulatory framework embodied in any Ordinance referred to in this Schedule and in other Ordinances where the Registrar of Companies has been specified, and advising the Government on any need for change. 6A. (Repealed 3 of 2019 s. 91) 7. Any service that the Registrar of Companies may be authorized to provide under or by virtue of any other Ordinance. 8. Providing advice or information on any matter that lies within the expertise of the Registrar of Companies. 9. Any service incidental to or conducive to the provision of any of the services specified in this Schedule. Schedule 2 [para. (c)]Assets Item Description Terms 1. Parts of the building known as Queensway Government Offices, namely— Not to be disposed of unless the approval of the Financial Secretary has first been obtained. (a) the whole of the 13th, 14th and 15th floors; (b) those parts of the 1st floor of the Low Block and the 12th, 17th and 30th floors of the High Block as shown on the document marked “Accommodation Plan of Companies Registry” dated 4 June 1993 and kept by the Registrar of Companies. 2. All furniture and equipment under the control of the Registrar of Companies on 1 August 1993, as set out in the document marked “Inventory of Furniture and Equipment of the Companies Registry” kept by the Registrar of Companies. 3. Office car registered number AM 123. 4. Capitalized setting-up costs.