NEWSLETTER April 2013
Dear Friends and Colleagues,
There are a few important matters that I would like to take this opportunity to report to you from LegCo.
Companies Ordinance – directors’ personal data
Working together with members of the Bar Association and the Law Society, we have successfully persuaded the Government to postpone its plans to introduce search restrictions for directors’ personal data at the Companies Registry.
The proposed new changes would have had a profound impact on many aspects of a lawyer’s practice, and Hong Kong’s status as an international financial centre. We need to take a holistic view when considering these proposals, taking into account other privacy issues under various registry regimes now already open to the public. Simply changing the existing arrangements under the CO is short-sighted and unworkable.
We welcome the Government’s decision to postpone this part of the new CO, so as to ensure that the much needed new CO would come into operation as soon as possible without too much controversy.
Again, I sincerely thank members of the profession for speaking out on this issue, and making their views known to the Government.