Small guarantee company

 

The total annual revenue of the small company limited by guarantee must not exceed HK$25 million. 

 

Approval from members is not required under the new Companies Ordinance.

 

(Sections 359(1)(a)(i), 363, Schedule 3 sections 1(5), (6) and 2 of the new Companies Ordinance)

 

 

 

 

Group of small guarantee companies

 

 

(a) Each company in the group must qualify as a small company limited by guarantee; and

(b) The aggregate annual revenue of the group must not exceed HK$25 million.

 

Approval from members is not required under the new Companies Ordinance.

 

(Sections 359(3), 366, Schedule 3 sections 1(13), (14) and 2 of the new Companies Ordinance)

 

 

 

 

Source: http://www.hkicpa.org.hk/en/standards-and-regulations/standards/sme-frf-frs/smefrfre/