Companies (Amendment) Ordinance 2018 – Keeping of Significant Controllers Register (“SCR”)
The Companies (Amendment) Ordinance 2018 (“the Amendment Ordinance) will be enforced on 1 March 2018.
Under the Amendment Ordinance, a company incorporated in Hong Kong is required:-
- to identify persons who have significant control over the company (“significant controllers”); and
- to maintain a significant controllers register (“SCR”) to be accessible by law enforcement officers.
Please prepare the SCR on or before 1 March 2018 and kept at the registered office or a place in Hong Kong for the law enforcement officers access.
Note: Failure to comply with the above obligations is a criminal offence. The company and every responsible person of the company are liable to a fine at level 4 (i.e. HK$25,000). Where applicable, there is a further daily fine of HK$700.