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Amendments to Listing Rules and the Corporate Governance Code effective on 1 January 2022
In November and December 2021, the Stock Exchange published consultation conclusions on the review of the provisions of the Listing Rules and the Corporate Governance Code respectively. The revised Listing Rules and the new Corporate Governance Code (“CG Code”) will come into effect on 1 January 2022, and the requirements under the CG Code will apply to corporate governance reports for financial year commencing on or after 1 January 2022, except otherwise stated in the table below. Issuers should take timely action in compliance with the new requirements:
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NEW REQUIREMENTS
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IMPLEMENTATION
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Core Shareholder Protection Standards
The core shareholder protection standards should be set out in the constitutional documents of all issuers (including Hong Kong issuers and PRC issuers) unless the Stock Exchange is satisfied that the domestic laws, rules and regulations to which the issuer is subject provide for the same protection
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Until their second annual general meeting following 1 Jan 2022 to make any necessary amendments to their constitutional documents to conform to the Core Standards
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Culture
(1) Require board to align the company’s culture with its purpose, values and strategy
(2) Establish anti-corruption and whistleblowing policies
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Financial year commencing on or after 1 Jan 2022
Financial year commencing on or after 1 Jan 2022
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Board independence and refreshment
(1) Require disclosure of mechanisms to ensure independent views are available to the board, and annual review of the implementation and effectiveness of such mechanisms
(2) Long Serving INED (i.e. INED serving more than nine years):
• additional disclosures on factors considered, process and the board or NC’s discussion in arriving at the determination that the Long Serving INED is still independent and should be re-elected
• appoint new INED if all INEDs on board are Long Serving INEDs
• disclose the length of the tenure of the Long Serving INEDs on the board on a named basis in the shareholders’ circular
(3) No equity-based remuneration with performance-related elements to INEDs
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Financial year commencing on or after 1 Jan 2022
Financial year commencing on or after 1 Jan 2022
Financial year commencing on or after 1 Jan 2023
Financial year commencing on or after 1 Jan 2022
Financial year commencing on or after 1 Jan 2022
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Diversity
(1) No single gender board (with a 3-year transition period for issuers)
(2) Gender diversity targets at board level and across workforce
(3) Review board diversity policy annually
(4) Include directors’ gender information in forms
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Rule effective from 1 Jan 2022
• appoint at least one director of a different gender no later than 31 December 2024
Financial year commencing on or after 1 Jan 2022
Financial year commencing on or after 1 Jan 2022
Rule effective from 1 Jan 2022
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Nomination Committee
Chaired by an INED or board chairman and comprising a majority of INEDs
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Rule effective from 1 Jan 2022
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Communications with shareholders
Disclose shareholders communication policy and annual review
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Financial year commencing on or after 1 Jan 2022
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Other enhancements
(1) Disclose directors’ attendance in the poll results announcements
(2) No longer require NEDs be appointed for specific term
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Rule effective from 1 Jan 2022
CG Code effective from 1 Jan 2022
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Timely disclosure of ESG reports
Publish ESG reports at the same time as publication of annual reports
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Financial year commencing on or after 1 Jan 2022
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Re-arrange the CG Code
Re-organise the structure and rename Main Board Listing Rules Appendix 14 / GEM Listing Rules Appendix 15 to “Corporate Governance Code”
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CG Code effective from 1 Jan 2022
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BMI Listed Corporate Services Limited provides professional corporate services for listed companies and private companies of different jurisdictions. For more information, please contact:-
Ms. Eva Lam (Director)
Tel:(852) 2159 5003 / (852) 5175 2662
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Hong Kong real-estate project and house for lease
Infiniti Pacific Properties Limited is an international real-estate service provider. We provide a full range of real estate services, spanning from corporate occupier services to strategic consultancy, project appraisal, valuation, feasibility studies and market research, property management, facilities and asset management and transactional services. Following are some of our promoting projects. |
| LarVotto - Ap Lei Chau |
LarVotto - Ap Lei Chau |
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*Uniqule Joint Units*, High Floor, No. 8 Ap Lei Chau Praya Road, Ap Lei Chau
- Unit A & B, Tower 1
- SA: A: 1,941 & B:1,795 sqft, Total : 3,736 sqft
- 4 Ensuites, plus a stylish design office/study/family room
- Luxurious renovation & decoration by famous interior designer
- Large combined living and dining room towards fantastic view
- The Aberdeen Marina Club & mountain view
For sale :
HK$300M (with 2 car parks)
Property ID : RS-LA-001AB
Date : MAR 08 2020 |
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High Floor, No. 8 Ap Lei Chau Praya Road, Ap Lei Chau
- Unit C, Tower 9
- SA: 596 sqft
- 2 Bedrooms (1 ensuite)
- Mountain view
- Club House, Shuttle Bus ...
For sale : HK$15.8M
Property ID : RS-LA-002C
Date : MAR 08 2020 |
| The Royal Court - Mid-Level |
Po Yue Yuk Building - Mid-Level |
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Duplex, High Floor, The Royal Court,No.3 Kennedy Road, ML
- SA: 2,217 sqft
- 3 large beds (1 ensuite), walk-in closet, 2 baths, large kitchen, large balcony with beautiful central city & harbor view
For sale : HK$98.8M
Property ID : RS-RC-001
Date : MAR 08 2020 |
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Po Yue Yuk Building, 61 Robinson Road, ML
- SA: 1,114 sqft
- Two Bedrooms (1 large ensuite), study area, 2½ baths, Maid room
- Balcony with open view
- One unit per flat; private lift to your own unit
For sale :
Lower Floor : HK$22.80M
Middle Floor : HK$22.98M
High Floor : HK$25.80M
For lease :
Middle Floor : HK$50K
Property ID : RS-PYY-001/2/3
Date : MAR 08 2020 |
| La Maison Du Nord - Kennedy Town |
Kin Liong Manison - Kennedy Town |
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Mid Floor, La Maison Du Nord, 12 North Street, Kennedy Town
- SA: 350 sqft
- 2 Bedrooms
- Harbour View, balcony at Kitchen
For sale : HK$8.38M (w/lease)
Property ID : RS-LMDN-001-11C
Date : MAR 08 2020 |
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Lower Floor, Kin Liong Mansion, No.16-30 North Street, Kennedy Town
- SA: 341 sqft + (Balcony : 320 sqft)
- Convenience location
For sale : HK$6.50M (w/lease)
Property ID : RS-KLM-001-1L
Date : MAR 08 2020 |
| The Waterfront - Tsim Sha Tsui |
Hang Lok Building - Sheung Wan |
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High Floor, 1 Austin Road West, Tsim Sha Tsui
- Unit C, Tower 6
- SA: 1,136 sqft
- 2 Bedrooms (1 Large ensuite w/walk in closet)
- Open Kitchen
- Harbor View & High Speed Railway Station view
- Prime location, near Hong Kong West Kowloon Station
- Good for investment
For sale : HK$32.80M
Property ID : RS-WA-001
Date : MAR 08 2020 |
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High Floor, Hang Lok Building, 130 Wing Lok Street, Sheung Wan
- GA: 400 sqft
- Sheung Wan MTR Station Exit B or C, near Western Market
- Convenience location
- Western decorated
For sale : HK$5.98M
For lease : HK$16K
Property ID : CS-HL-009A
Date : MAR 08 2020 |
| Siu On Building - Sai Ying Pun |
Tsim Sha Tsui Mansion - Tsim Sha Tsui |
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Siu On Building, No.243-245 Des Voeux Road West, Sai Ying Pun
- GA: 991 sqft
- Prime location, Opposite Sai Ying Pun MTR Station Exit B3
- Good for investment
- One unit per floor
- Multi function usage
- Two individual washrooms
For sale :
Range From
Lower Floor : HK$13.60M to
High Floor : HK$15.80M
For lease :
Lower Floor : HK$28K
Higher Floor : HK$24K
Property ID : CS-SO-MIX-001
Date : MAR 08 2020 |
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Shop No.25,29,32 on G/F & 1/F Whole Floor (1-46), Tsim Sha Tsui Mansion,
No.83-97 Nathan Road, Tsim Sha Tsui, Kowloon
- GA: Total: Approx. 16,000 sqft
- Private Lift to First Floor
- Prime Location, Near MTR Tsim Sha Tsui Station Exit A
For Lease: HK$480,000-
Property ID : CL-TSTM-001A
Date : MAR 08 2020 |
For details, please contact Ms. Monita Luk at (852) 9333 3124 / (852) 6982 3998 / mluk@infinitip.com |
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Tailor-made corporate training – Directors' Training
BMI Professional Training Centre Limited strives to provide professional, high quality and reliable training courses. Apart from regular courses with fixed schedule and content, we also tailor-made corporate training courses that fulfill unique demands of corporate clients.
Our popular tailor-made directors' training courses covers a comprehensive range of topics related to listing rules, including director responsibility, code on corporate governance, responsibilities of the Board of listed companies and overview of Hong Kong Listing Rules etc. Our courses are recognized by HKEX.
Interested parties or organizations may visit our website: http://www.bmiptc.com
Or contact Ms. Chow at (852) 2593 9653 / meko.chow@bmintelligence.com |
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Economic Conference Room Rental Package
BMI Professional Training Centre is pleased to offer the rental of conference room at a convenience location in Wan Chai. it is suitable for organizing events, such as seminars workshops, training, press conferences.
MORE INFORMATION
Should you have any enquires, please feel free to contact Ms. Sarah Chan on (852) 2593 9650 or by registration@bmiptc.com
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Commencement of New Inspection Regime of the Companies Register under the Companies Ordinance (Cap. 622) Enhancing Protection for Personal Information
Pursuant to the relevant provisions of the Companies Ordinance concerning the new inspection regime, correspondence addresses (“CA”) instead of usual residential addresses (“URAs”) of directors and partial identification numbers (“IDNs”) instead of full IDNs of directors, company secretaries and other relevant persons would be made available on the Companies Register (“the Register”) maintained by the Companies Registry (“the Registry”) for public inspection. The URAs and full IDNs (“Protected Information”) would only be accessible by “specified persons” upon application. Similarly, companies may withhold from public inspection the Protected Information on the registers they have kept.
The new inspection regime will be implemented in three phases. Details of the phased implementation are as follows:-
(a) Phase 1
From 23 August 2021, companies may withhold from public inspection the URAs of directors and full IDNs of directors and company secretaries as contained in the registers of directors and registers of company secretaries kept by the companies. In such cases, companies are to make available for public inspection on their own registers CA of directors and partial IDNs of directors and company secretaries;
(b) Phase 2
From 24 October 2022, Protected Information on the Index of Directors on the Register will be replaced with CA and partial IDNs for public inspection. Protected Information contained in documents filed for registration after commencement of this phase will not be provided for public inspection. “Specified persons” could apply to the Registry for access to Protected Information of directors and other persons.
At the same time, a company’s register of directors is required to contain a CA of its director or reserve director who is a natural person (“Specified Director”) and such address must not be a post office box number. The address of the company’s registered office is to be regarded as the CA of the Specified Director. Otherwise, the company is required to deliver to the Registrar of Companies a notice in relation to the Specified Director’s CA within 15 days after the commencement of Phase 2; and
(c) Phase 3
From 27 December 2023, data subjects could apply to the Registry for protecting from public inspection their Protected Information contained in documents previously registered with the Registry (“Withheld Information”), and replace such information with their CA and partial IDNs. “Specified persons” could apply to the Registry for access to Withheld Information of directors and other persons.
The above information is extracted from the website of the Companies Registry.
Our services:
1. Updating register of directors and register of secretaries kept by the Company for public inspection
2. Providing correspondence address for Specified Director
3. Preparing and delivering to the Registrar of Companies a notice in relation to the Specified Director’s correspondence address which was not the address of the company’s registered office
4. Applying to the Registry for protecting from public inspection the Protected Information contained in documents previously registered with the Registry
NORCOLA COMPANY LIMITED, a member of BM Intelligence Group, provides our clients with a comprehensive range of corporate secretarial services. For more information, please feel free to contact:-
Name : Ms. Eva Lam
Tel : (852) 2159 5003 / (852) 5175 2662
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