Standing Committee on Company Law Reform publishes 2025-26 annual report
The Standing Committee on Company Law Reform (SCCLR) today (October 30) published its 2025-26 annual report.
During the reporting period, the Government consulted the SCCLR on the legislative proposal to remove the exemption permitting mixed media offers. In addition, the Government briefed the SCCLR on the uncertificated securities market regime, and the company re-domiciliation regime so as to facilitate members' understanding of relevant details and latest developments.
"Over the years, the SCCLR has been our important partner in working side by side to modernise company law to keep abreast of the times. We sincerely appreciate the invaluable advice provided by the SCCLR during the reporting period, and look forward to continuing to work with the SCCLR to further consolidate Hong Kong's status as an international commercial and financial centre," a Government spokesperson said.
The SCCLR was set up in 1984. It advises the Financial Secretary on amendments to the Companies Ordinance and the Companies (Winding Up and Miscellaneous Provisions) Ordinance, as well as amendments to the Securities and Futures Ordinance on matters relating to corporate governance and shareholders' protection, as and when necessary.
The Chairman of the SCCLR is Mr Johnny Mok, SC. Members include practitioners from relevant professions including the legal, accountancy, and company secretarial fields; academics; individuals from the business community; and representatives from relevant government departments and financial regulators.
Photo source: reference image
The 2025-26 annual report of the SCCLR is available on the website of the Companies Registry (www.cr.gov.hk) for public inspection.
TD receives eight applications for ride-hailing service licences with positive response
The Transport Department (TD) announced today (October 30) that the application period for ride-hailing service licences ended at noon today. A total of eight applications were received during the application period, reflecting a positive response from the industry.
An assessment committee formed by representatives from the Transport and Logistics Bureau, the Digital Policy Office and the TD will assess the applications received in detail. The assessment will cover ride-hailing vehicle fleet management, booking platform services, service commencement plans, service commitments, customer service, experience in operating ride-hailing platform services, financial capability and capital investment, as well as detailed plans for implementation of due diligence to ensure that vehicle owners and drivers comply with the owner-driver binding requirement, and for encouraging ride-hailing vehicle drivers on their platforms to provide more ride-hailing trips. The assessment committee will make recommendations to the Commissioner for Transport, with a view to announcing a list of qualified platforms within this year.
A spokesman for the TD said, "The Government is committed to enhancing personalised point-to-point transport services as a whole, providing passengers with more diverse travel choices that are safe, lawful and compliant with regulatory requirements, while fostering a healthy competitive environment and promoting the long-term, healthy and sustainable development of the industry. We will carefully assess each application to ensure that licensed platforms have the necessary operational and financial capabilities to provide safe, reliable and efficient ride-hailing services sustainably."
The TD will also announce details of applications for ride-hailing vehicle driving permits and vehicle permits in due course to tie in with the operation of licensed platforms.
Source: AI-found images
