The New Companies Ordinance (“the new CO”) and the subsidiary legislation will commence operation on 3 March 2014.

The New CO, which consists of 921 sections and 11 schedules, provides a modernised legal framework for the incorporation and operation of companies in Hong Kong. It aims to achieve four main objectives, namely, to enhance corporate governance, ensure better regulation, facilitate business and modernise the law.

To facilitate the implementation of the new CO, the Registrar of Companies has specified 83 forms for use under the new CO. In addition, 9 forms have been specified for use under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Chapter 32), which will be the new name for the current Companies Ordinance (Chapter 32), with effect from 3 March 2014.

For any enquiries concerning the new CO, please feel free to contact our professional.