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New Inspection Regime under the Hong Kong Companies Ordinance

Time:   06.07.2021
New Inspection Regime under the Hong Kong Companies Ordinance

To enhance the protection of personal information privacy, the new public inspection regime under the Hong Kong Companies Ordinance and its subsidiary legislation had been gazetted on 18 June 2021. The new inspection regime will have 3 phases and the first phase will start on 23 August 2021.

  1. Changes under the New Inspection Regime

    Under the new inspection regime, there are two changes related to the information make available for public inspection for Hong Kong companies. Below are categorized as protected information:

    (1)
    The directors’ usual residential addresses will be replaced by their correspondence addresses; and
    (2)
    The full identification number of directors, company secretaries and other relevant people will be replaced by partial identification number.

  2. Time Schedule

    The new inspection regime will implement in three phases.

    (1)
    First Phase (Starting on 23 August 2021)
    The protected information may be replaced in their own registers of Hong Kong companies for public inspection.

    (2)
    Second Phase (Starting on 24 October 2022)
    • Starting on that date, submission of documents to Companies Registry contained the protected information will not provide for public inspection.
    • The protected information on the director index in Companies Registry Search will be replaced.

    (3)
    Third Phase (Starting on 27 December 2023)
    Hong Kong companies may apply to the Companies Registry for replacing their protected information from public inspection contained in documents already registered with the Companies Registry before the commencement of Second Phase.

  3. Specified Persons

    Specified persons could apply to the Companies Registry for access to protected information of director and other person. The specified persons are:

    (1)
    A member of the company;

    (2)
    A public officer or public body;

    (3)
    A person/organisation appointed or provided under statute who needs to use Protected Information for execution of statutory functions;

    (4)
    A solicitor who practises law in a Hong Kong firm and a foreign lawyer who practises foreign law in a Hong Kong firm or a foreign firm under the Legal Practitioners Ordinance (Cap. 159);

    (5)
    A certified public accountant (practising) under the Professional Accountants Ordinance (Cap. 50);

    (6)
    An authorized institution under the Banking Ordinance (Cap. 155); and

    (7)
    A financial institution (e.g. a securities company, an insurance company, a money service operator, a Stored Value Facility Licensee, etc.) and designated non-financial businesses and professions (including accounting and legal professionals, estate agents, and Trust or Company Service Provider Licensees) regulated under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615).

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