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The total number of local companies and overseas companies registered under the Companies Ordinance increased during the first six months of 2006 compared with the corresponding period of 2005, according to statistics released today (August 10) by the Companies Registry.
The figures showed that the number of new local companies incorporated during the first six months of 2006 was 39,807, an increase of 5.88% from the 37,598 in the corresponding period of 2005.
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 the first six months of 2006 was 281, an increase of 2.18% from 275 in the corresponding period of 2005.
The total number of companies registered under the Companies Ordinance at the end of June 2006 was 567,186, up 17,954 from the end of 2005. The total number of oversea companies registered under Part XI of the Companies Ordinance stood at 7,548 at the end of June 2006, 60 more than the total number at the end of 2005.
The number of charges on the assets of companies received in the first six months of 2006 decreased by 22%, to 13,841 from 17,746 in the same period last year. The number of satisfactions and releases received decreased by 17.32% to 10,209 in the first half of 2006.
During the period, a total of 124 prospectuses, including 46 mutual funds, were registered in the first six months of 2006, compared with 135 prospectuses, including 50 mutual funds, during the corresponding period in 2005.
The total number of documents received for filing during the first six months of 2006 increased by 2.84%, to 854,672 from 831,080.
A total of 1,336,582 company searches on document image records (on a per document basis) were made through the Companies Registry's Electronic Search Services in the first half of 2006.
Regarding the search services on the computerised database in the first six months of 2006, the number of searches on the computerised Index of Directors increased by 8.26%, to 72,124 from 66,619. The number of Company Particulars Reports issued increased by 14.84%, to 59,496 from 51,809.
The Registry has continued to strengthen its efforts in enforcing compliance with the provisions of the Companies Ordinance and expanded prosecution programme by substantially increasing the number of summonses.
The total number of summonses issued by the Registrar of Companies against companies for breaches of the Companies Ordinance, mainly for failure to file annual returns, during the first six months of 2006 increased by almost 100% to 2,834, compared with 1,420 during the corresponding period in 2005.
There were 1,115 convictions obtained during the first half of 2006, compared with 581 during the corresponding period in 2005 and 753 cases remain to be heard by the court, compared with 487 during the corresponding period in 2005. The total amount of fines imposed for convictions in the first half of 2006 was $7,164,940, compared with $4,743,905 during the corresponding period in 2005.
Ends/Thursday, August 10, 2006
Issued at HKT 11:00
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