Chapter: 32  COMPANIES ORDINANCE

Section Num: 360  Version Date 01/12/2005

Power to amend requirements as to accounts, Schedules, tables, forms and fees

(1) The Chief Executive in Council may by order amend the requirements of this Ordinance as to the matters to be stated in a company's balance sheet, profit and loss account and group accounts, and in particular those of the Tenth and Eleventh Schedules; and any reference in this Ordinance to the Tenth or Eleventh Schedule shall be construed as a reference to that Schedule with any amendments made by an order for the time being in force under this subsection.  (Amended 23 of 1999 s. 3)

(2) The Chief Executive in Council may by order amend Tables A, B, C, D and E in the First Schedule but no amendment made by the Chief Executive in Council in Table A shall affect any company registered before the amendment comes into operation, or repeal as respects that company any portion of that Table.  (Amended 23 of 1999 s. 3)

(3) (Repealed 3 of 1997 s. 54)

(3A) The Financial Secretary may, by order published in the Gazette, amend the table of fees in the Eighth Schedule and the Fourteenth Schedule.  (Added 30 of 1994 s. 9)

(4) The amount of any fee prescribed under this section shall not be limited by reference to the amount of administrative or other costs incurred or likely to be incurred in relation to providing the service to which such fee relates.  (Added 41 of 1989 s. 4)

(5) The Financial Secretary may, by order published in the Gazette, amend the Sixteenth or Twenty-third Schedule.  (Added 30 of 1999 s. 33. Amended 12 of 2005 s. 13)

(6) The Commission may, by order published in the Gazette, amend the Third, Seventeenth, Eighteenth, Nineteenth, Twentieth, Twenty-first or Twenty-second Schedule.  (Added 30 of 2004 s. 2)

(7) Where the Commission proposes to make an order under subsection (6), it shall publish a draft of the proposed order, in such manner as it considers appropriate, for the purpose of inviting representations on the proposed order by the public.  (Added 30 of 2004 s. 2)

(8) Where the Commission makes any order under subsection (6) after a draft is published under subsection (7) in relation to the order, it shall-

(a) publish, in such manner as it considers appropriate, an account setting out in general terms-

(i) the representations made on the draft; and

(ii) the response of the Commission to the representations; and

(b) where the order is made with modifications which in the opinion of the Commission result in the order being significantly different from the draft, publish, in such manner as it considers appropriate, details of the difference.  (Added 30 of 2004 s. 2)

(9) Subsections (7) and (8) do not apply if the Commission considers, in the circumstances of the case, that-

(a) it is inappropriate or unnecessary that such subsections should apply; or

(b) any delay involved in complying with such subsections would not be-

(i) in the interest of the investing public; or

(ii) in the public interest.  (Added 30 of 2004 s. 2)

(Replaced 6 of 1984 s. 250)

[cf. 1948 c. 38 s. 454 U.K.]