Impact of the New Hong Kong Companies Ordinance on Charitable Institutions

The new Hong Kong Companies Ordinance (Cap. 622) (New CO) came into effect on March 3, 2014. The impact of this new law on registered charitable institutions incorporated as Hong Kong companies limited by guarantee (CLGs) is discussed in detail in our article “Assessing the Impact of the New Hong Kong Companies Ordinance on Charitable Institutions.” A summary of the key points of our article is provided here.

Impact on directors and other officers of CLGs -

The New CO raises the bar on corporate governance requirements, especially in terms of the enforcement regime and standard of care expected of directors and other officers.

Please see full memorandum and chart below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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