Legislative Council approves Companies Amendment Bill

The amendment ordinance will be published in the Gazette on 17 January.

The government welcomed the Legislative Council's passage of the Companies (Amendment) Bill 2024 which enables companies to hold shares bought back in the treasury and dispose of them, and promote paperless corporate communication for both listed and unlisted companies.

Secretary for Financial Services and the Treasury Christopher Hui said that it will help enhance the competitiveness of Hong Kong as an international business and financial centre.

The amendment ordinance will be published in the Gazette on 17 January. 

Companies will be given three months after the amendment ordinance is published to prepare for the new arrangement.