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The Companies (Amendment) (No. 2) Ordinance 2018 (the Amendment Ordinance) has commenced operation on 1 February 2019.

The new Companies Ordinance (Cap. 622) (new CO) commenced operation in March 2014. It provides for a modern statutory framework for the incorporation and operation of companies in Hong Kong. A number of measures have been introduced under the new CO to simplify statutory procedures, reduce the compliance costs of companies and cater for the needs of small and medium-sized enterprises.

The Amendment Ordinance seeks to incorporate new developments after the commencement of the new CO and clarify the policy intent or remove ambiguities or inconsistencies in the new CO. The amendments include expanding the scope for simplified reporting, updating the accounting-related provisions to reflect the latest accounting standards, and streamlining and clarifying provisions to facilitate compliance.

The Amendment Ordinance brings the new CO further in line with prevailing accounting standards and reduce compliance costs. This would help strengthen Hong Kong’s position as an international commercial and business centre.

Comprehensive information on the Amendment Ordinance, including frequently asked questions and External Circular issued by the Companies Registry, are available at this thematic section.
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