By Christopher Hooley, Partner

The Companies (Amendment) Ordinance 2010 was published in the Gazette on 16th July 2010. It is likely to come into force upon the implementation of Phase II of the Integrated Companies Registry Information System (ICRIS II) by the Companies Registry early in 2010.

Under the Companies (Amendment) Ordinance 2010, a number of provisions are amended to facilitate on-line applications for company registration, for example, to allow the signing of the incorporation forms using passwords, streamline the attestation requirements for signatures by founder members, and facilitate the issue of certificates of incorporation by the Registrar of Companies through electronic means.

By Christopher Hooley, Partner

Hong Kong signed comprehensive agreements with the UK and Ireland on the avoidance of double taxation in June 2010.

These are the 12th and 13th comprehensive double tax agreements Hong Kong has signed with trading partners, following those with Belgium (2003), Thailand (2005), China (2006), Luxembourg (2007), Vietnam (2008), Brunei (2010), the Netherlands (2010), Indonesia (2010), Hungary (2010), Kuwait (2010) and Austria (2010).

By Christopher Hooley, Partner

The Bribery Act (the “Act”) which received Royal Assent in the United Kingdom (“UK”) on 8th April 2010 will come into force in the Spring of 2011.

The Act reforms the UK’s current criminal anti-bribery law and covers instances of bribery committed both within and outside the UK.

By Jade Tang

A friend tells you that he has had a “brilliant idea” that will make him “millions. You wonder whether this idea could be commercialized and if so, how you can invest in it?

An idea by itself is rarely protectable but as soon as that idea can be transformed into intellectual property, that intellectual property can be protected.

The standard way of investing in an idea is for the related intellectual property to be transferred to a limited liability company which would then act as the joint venture vehicle between the creator of the intellectual property and any investors (“JV Co”).

By Christopher Hooley, Partner

Bearer shares in BVI corporations incorporated prior to 1st January 2005 will be "disabled" after 31st December 2009.

This has potentially serious implications for the holders of any bearer shares in BVI corporations and anyone that intends to acquire shares in a BVI corporation which was incorporated prior to 1st January 2005.