Hong Kong Ordinances

TRUSTEE ORDINANCE - SECT 78

Issue of certificate

(Past version on 30/06/1997).

Amendments retroactively made - see 18 of 1999 s. 3

(1) On the receipt of an application under section 77, the Registrar of
Companies shall make such inquiry as he deems necessary, and, if satisfied
that all the requirements of section 77 have been complied with, shall
register the company applying for registration as a trust company in the
register prescribed by section 79 and shall issue to it a certificate that the
company is registered as a trust company, and thereupon the company shall be
invested with all the powers, privileges and immunities and shall be subject
to all the liabilities imposed by this Part.

(2) Notice of the issue of such certificate shall be published by the
Registrar of Companies in the Gazette for 4 consecutive weeks next following
the issue.

(3) If the Registrar of Companies is not satisfied that all the requirements
of section 77 have been complied with, he shall refuse to register the company
as a trust company: Provided that the company may appeal from such refusal to
the Chief Executive in Council, whose decision shall be final. (Amended 18 of
1999 s. 3)