Companies Ordinance Cap 32
Section Num: 55 Version Date 13/02/2004
Notice of increase of capital
(1) Where a company having a share capital, whether its shares have or have not been converted into stock, has increased its share capital beyond the registered capital, it shall, subject to subsection (1A), within 15 days after the passing of the resolution authorizing the increase, give to the Registrar notice of the increase, and the Registrar shall record the increase. (Amended 28 of 2003 s. 26)
(1A) Where the increase in the share capital of the company takes effect on a date after the date on which the resolution authorizing the increase is passed, the notice referred to in subsection (1) shall be given to the Registrar within 15 days after the increase takes effect. (Added 28 of 2003 s. 26)
(2) The notice to be given as aforesaid shall be in the specified form and include such particulars as may be specified by the Registrar with respect to the classes of shares affected and the conditions subject to which the new shares have been or are to be issued. (Amended 3 of 1997 s. 18; 28 of 2003 s. 26)
(3) If default is made in complying with this section, the company and every officer of the company who is in default shall be liable to a fine and, for continued default, to a daily default fine. (Amended 7 of 1990 s. 2)
[cf. 1929 c. 23 s. 52 U.K.]