Companies (Amendment) Bill 2022 gazetted
Nov 30, 2022
The Government published in the Gazette on November 25 the Companies (Amendment) Bill 2022. The Bill aims to provide sufficient flexibility for companies to hold general meetings in various manners.
"Under the current Companies Ordinance, companies may use technology to hold general meetings at two or more places. In recent years, the advancement of technology has made adoption of virtual means to hold and participate in meetings possible worldwide. Taking into account local stakeholders' views and practices of comparable commercial centres, we propose amending the Companies Ordinance to expressly enable companies holding general meetings virtually or in hybrid mode, rather than holding meetings only at physical locations. This seeks to provide sufficient flexibility for companies to conduct corporate affairs smoothly and effectively having regard to their own circumstances and needs," a Government spokesperson said.