LegCo approves Stamp Duty amendment bill

The amended ordinance will come into force on January 27.

The government welcomed the passage of the Stamp Duty (Amendment) Bill 2022, saying that the ordinance is an “important step to promote the issuance and trading of renminbi securities.”

“It supports the upcoming launch of the Dual Counter Market Making Programme that promotes the price efficiency and liquidity of RMB counters of Hong Kong stocks,” added the government

“The work to consolidate the city's status as a global offshore RMB hub and assist the internationalisation of RMB will continue,” the government added.

The amended ordinance will come into force on January 27.

Apart from the amendment bill, the Legislative Council also passed the Companies (Amendment) Bill 2022 which the government said will provide “flexibility for companies to hold general meetings in various manners.”

“The manner of holding a general meeting is governed by the ordinance, the relevant subsidiary legislation and the company's articles of association. The amended Companies Ordinance expressly caters for the scenario of local companies holding fully virtual or hybrid general meetings without limiting them to physical venues,” the government added.

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