Regulated Business Activities

image34

Companyś Objects as Stipulated by Hong Kong Trustees Ordinance (Chapter 29)

  1. To accept and execute the offices of executor, administrator, trustee, receiver, receiver and manager, assignee, liquidator, guardian of the property of infants, committee of the estates of lunatics, or other like office of a fiduciary nature.
     
  2. To act as attorney or agent for the collection, receipt and payment of money and for winding up estates and for the sale or purchase of any movable or immovable property.
     
  3. To act as agent for the management and control of movable and immovable property for and on behalf of the owners thereof or for or on behalf of executors, administrators or trustees.
     
  4. To act as investing and financial agent for and on behalf of executors, administrators, and trustees or any other persons whatsoever and to receive money in trust for investment and to allow interest thereon until invested; and to undertake for and on behalf of executors, administrators and trustees or any other persons whatsoever the negotiation of loans of all descriptions and the procuring and lending of money on the security of any description of property immovable or movable or without taking any security on such terms as may be arranged, and to advance and lend moneys to protect any estate, trust or property entrusted to the company as aforesaid and to charge interest upon any such advances:  
    Provided that nothing herein contained shall be held either to restrict or extend the powers of the company as trustee or agent under the terms of any trust or agency that may be conferred upon it.
     
  5. To take securities of such nature as are deemed expedient for any moneys owing to the company.
     
  6. To be the custodian on such terms as are agreed upon of any moneys, securities, jewellery, plate or other valuable property and of papers, documents, deeds, wills, debentures and other evidence of title or indebtedness.
     
  7. To receive and manage any sinking, redemption, guarantee or any other special fund or deposit and to act as agent for countersigning, registering or otherwise ascertaining and certifying to the genuineness of any issue of shares, stocks, bonds, debentures or other securities for money of any government, municipal or other corporate body or of any association, whether incorporated or not, duly authorized to issue and make such issue and to hold any such securities as agent or trustee and to act generally as agent for any such government, municipal or corporate body or association.
     
  8. To acquire and hold immovable property for the actual use and occupation of the company or any of its officers and servants and to erect, construct, enlarge, alter and maintain any buildings necessary or convenient for the said purposes and to sell or otherwise dispose of any such immovable property if not required for the said purposes.
     
  9. To hold land which having been mortgaged to the company is acquired by it for the protection of its investments; and from time to time sell, mortgage, lease or otherwise dispose thereof.
     
  10. To deposit the moneys of the company not immediately required with any bank or banks at interest until such moneys can be more permanently invested and to invest the moneys of the company in accordance with the provisions of section 91.
     
  11. To borrow moneys and secure the repayment thereof with interest in accordance with the provisions of section 93.
     
  12. To receive and collect such remuneration for its services as is agreed upon or as fixed or allowed from time to time by law and all usual and customary charges, costs and expenses.
     
  13. To support and subscribe to any charitable or public object and any institution, society or club which may be for the benefit of the company or its employees or may be connected with any town or place where the company carries on business; to give pensions, gratuities or charitable aid to any person or persons who may serve or have served the company or to the wives, children or other relatives of such persons; to make payments towards insurance and to form and contribute to provident and benefit funds for the benefit of any persons employed by the company.
    Provided that no such subscription, gift, payment or contribution shall be given or made, except out of profits of the company available for distribution as dividend.
     
  14. To acquire and undertake the whole or any part of the business of any person or company of a like nature to any business which a trust company is authorized to carry on and in consideration for such acquisition to undertake all or any of the liabilities of such person or company and to issue shares to such person or company.
     
  15. To do all such other things as are incidental or conducive to the attainment of the before-mentioned objects or any of them.
     
  16. To carry out all or any of the objects aforesaid either within or outside Hong Kong and by or through trustees, agents or otherwise and either alone or in conjunction with others.