The Hong Kong Financial Services and the Treasury Bureau is conducting a review of company law. As part of this programme, a three month consultation has begun concerning company names, directors' duties, corporate directorships and registration of charges. A consultation paper has been published. Amongst the questions asked are:
(1) Should the general duties of directors be codified and, if so, should the UK approach (as in Section 172 of the Companies Act (2006)) be adopted?
(2) Should corporate directorships be abolished?
(3) Should "book debts" be statutorily defined?
Monday 14 April 2008
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