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.