Chapter: 32  COMPANIES ORDINANCE

Section Num: 141CH  Version Date 04/01/2002

Circumstances in which listed companies may comply with section 129G by use of computer network

Relevant Financial Documents and Summary

Financial Reports on Computer Networks

(Added 27 of 2001 s. 6)(1) Subject to subsection (2), for the purposes of section 129G, a listed company shall be treated as having sent a copy of the relevant financial documents or a copy of a summary financial report to an entitled person of the company in satisfaction of that section if-

(a) the person has, pursuant to a notice of intent or other notice which is in force, agreed with the company to his having access to the documents or report, as the case may be-

(i) on a computer network to which the entitled person or any other entitled person may have access; and

(ii) instead of being sent the documents or report, as the case may be; and

(b) the person is notified, in a manner for the time being agreed between the person and the company, of-

(i) the publication of the documents or report, as the case may be, on the computer network;

(ii) the address of the computer network; and

(iii) the location on that computer network where the documents or report, as the case may be, may be accessed, and how they or it may be accessed.

(2) Where a listed company's relevant financial documents or summary financial report are or is treated as being sent to an entitled person of the company by virtue of the operation of subsection (1), the documents or report, as the case may be, shall be treated as being sent to the person not less than 21 days before the date of the general meeting to which the documents or report, as the case may be, relate or relates if and only if-

(a) the documents or report, as the case may be, are or is published on the computer network referred to in that subsection throughout the period beginning not less than 21 days before the date of the meeting and ending on the date of the following general meeting in which relevant financial documents are required to be laid before the company under this Ordinance or in accordance with a direction of the court; and

(b) the notification given for the purposes of subsection (1)(b) is given not less than 21 days before the date of the first-mentioned meeting.

(3) Nothing in subsection (2) shall invalidate the proceedings of a general meeting where-

(a) any documents or report that are or is required to be published as mentioned in subsection (2)(a) are or is published for a part, but not all, of the period mentioned in that subsection; and

(b) the failure to publish the documents or report throughout that period is wholly attributable to circumstances which it would not be reasonable to have expected the company to prevent or avoid.

(Added 27 of 2001 s. 6)