Q：
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What are Statutory Records?
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A：
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Statutory Records means any documents required by Companies Ordinance to be kept by a company.
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Q：
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What documents are included in the Statutory Records?
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A：
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Statutory Records including:
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Register of directors, members, secretaries and significant controllers;
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Written resolutions of members and directors;
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Minutes of General and Board meetings; and
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Accounting records.
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Q：
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Why the company need to maintain Statutory Records?
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A：
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Reasons of maintaining Statutory Records are:
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To ensure that some basic data is available to company members;
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To inform the public about the company's situation when dealing with a corporate company;
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To enable the person in charge of the company, etc., has a certain degree of management responsibility; and
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To enable the government to obtain the necessary information for the enforcement of corporate legislation.
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Q：
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What are the Forms of Statutory Records?
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A：
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Statutory Records may be kept in hard copy or electronic form which the directors of the company think fit.
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Q：
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Where to keep the Statutory Records?
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A：
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Statutory Records must be kept on the company’s registered office or a prescribed place where the company notified the Registrar that a specified record is kept.
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Q：
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What is the minimum period for the company to keep the Statutory Records?
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A：
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In respect of records of former members, the minimum keeping period is 10 years from the date on which the person ceased to be a member of the company;
In respect of records of resolutions and meetings of members and written records of decisions of a single member, the keeping period is at least 10 years from the date of the resolution, meeting or decision; and
In respect of accounting records, the company must preserve the records, or the accounts and returns, for 7 years after the end of the financial year to which the last entry made or matter recorded in the records, or the accounts and returns.
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SOALAN LAZIM
