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Companies (Amendment) Ordinance 2025
20
Jan
Jan
The Companies (Amendment) Ordinance 2025 introduces significant changes to the Companies Ordinance (Cap. 622) and its subsidiary legislation, focusing on treasury shares, website communications, and updates to model articles. Key provisions include allowing listed companies to hold repurchased shares as treasury shares, regulating their cancellation, sale, or transfer, and suspending rights attached to such shares. It also modernizes communication methods by enabling companies to send documents via websites, subject to member consent, and clarifies member rights to request electronic or hard copy formats. Amendments to model articles remove limitations on communication methods, ensuring greater flexibility. The Ordinance, enacted by the Legislative Council, will take effect on 17 April 2025, three months after publication in the Gazette. Resources: https://www.cr.gov.hk/en/publications/docs/es1202529031-e.pdf
