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Companies (Winding Up and Miscellaneous Provisions) (Amendment) Ordinance 2016 (Commencement) Notice 2016 gazetted

09 December 2016

The Government published in the Gazette today (December 9) the Companies (Winding Up and Miscellaneous Provisions) (Amendment) Ordinance 2016 (Commencement) Notice 2016.

The Companies (Winding Up and Miscellaneous Provisions) (Amendment) Ordinance 2016, which was passed by the Legislative Council on May 27, seeks to improve and modernise Hong Kong's corporate winding-up regime by providing measures to increase protection of creditors as well as streamline and further enhance the integrity of the winding-up process. 

A spokesman for the Financial Services and the Treasury Bureau said, "The Amendment Ordinance will help further align our corporate winding-up regime with the latest international developments, and enhance Hong Kong's business environment with increased confidence to investors and creditors."

To bring the Amendment Ordinance into operation, the Secretary for Financial Services and the Treasury made the Commencement Notice to appoint February 13, 2017, as its commencement date.

"The Official Receiver's Office (ORO) has undertaken necessary preparatory work, including updating its website and publications as part of its promotional efforts to inform the public, as well as notifying and briefing practitioners on the relevant matters to ensure a smooth commencement of the Amendment Ordinance," the spokesman added.

The Commencement Notice will be tabled in the Legislative Council for negative vetting on December 14.

To learn more about the Amendment Ordinance, please visit the website of the ORO ( www.oro.gov.hk).
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