Important Updates: The Companies (Amendment) Ordinance 2018 – New Requirement for Significant Controllers Register for Hong Kong Companies
The Hong Kong Companies (Amendment) Ordinance 2018 was gazette on 2nd Feb 2018, it introduces new requirements on the keeping of significant controllers registers by companies. The Amendment Ordinance will come into operation on 1 March 2018. Failure to comply with the obligations for keeping the SCR is a criminal offence. The Company and every responsible persons liable to a fine at level 4 (i.e. HKD 25,000) and where applicable, a further daily fine of HKD 700. For more details, please refer to CR website at: https://www.cr.gov.hk/en/scr/index.htm
