Small private company
The small private company must not exceed any two of the following:
(a) Total annual revenue of HK$100 million
(b) Total assets of HK$100 million at the end of the reporting period
(c) 100 employees
Approval from shareholders is not required under the new Companies Ordinance
Group of small private companies
(a) Each company in the group must qualify as a small private company; and
(b) The aggregate amounts for the group must not exceed 2 out of 3 of the size tests for small private companies.
Approval from shareholders is not required under the new Companies Ordinance.
(Sections 359(2)(a),(b) and (c)(i), 364, Schedule 3 sections 1(7), (8), (9) and 2 of the new ordinance)