Changes to the Companies Register with David Webb & Ricky Chim and relocation of pets
In mid-2006, the government initiated what it described as a “comprehensive rewrite” of the Companies Ordinance with the aim of modernising Hong Kong’s company law. In March 2014 the new Companies Ordinance came into effect. It has been described as one of the longest and most complex pieces of legislation enacted in Hong Kong. Much of the discussion around the legislation was about striking a balance between satisfying the public need to access information and the need to protect the privacy of company directors and secretaries. Voices from the banking sector, financial industries, media, unions, and other professional groups strongly opposed limiting access to personal information on the Companies Register. In 2013, the government shelved plans to do this. But eight years later, new legislation has again surfaced which will limit access to information on the Company’s register, as a way of enhancing privacy.
In a survey last October by the Hong Kong Institute of Asia-Pacific Studies at Chinese University more than 43% of respondents said they would emigrate if they had the chance. Of those who want to leave, 35% said they had taken steps to prepare for the move. Census and Statistics Department figures released in February this year show that Hong Kong’s population is down 0.6% from 2019. The department says there has been a net outflow of 39,800 people, and that factors contributing to this outflow include work and study, which are conceptually different from immigration and emigration. But whether those leaving are choosing to move for work, study, or emigration purposes, many are finding themselves faced with hard choices to make regarding their pets.