On Mar. 21, 2025, HK GVT issued Bankruptcy and companies legislation (miscellaneous amendments) ordinance 2023 (commencement) notice 2025 (of Mar. 12).
The 2025 notice states that uncommenced provisions of Bankruptcy and companies legislation (miscellaneous amendments) ordinance 2023 take effect on Jul. 14, 2025.
On May 24, HK PRL gazetted bill on bankruptcy, companies legislation.
HK PRL gazettedBankruptcy and companies legislation (miscellaneous amendments) bill 2023, to improve efficiency, accuracy of Official receiver's office (ORO) operations.
Bill
Includes amendments to the Bankruptcy ordinance (BO), the Companies (winding up and miscellaneous provisions) ordinance (CWUMPO), and their subsidiary legislation, in order to facilitate the implementation of the Electronic submission system (ESS).
Consists of amendments to the BO, the CWUMPO, and their subsidiary legislation aimed at simplifying the publication requirements for insolvency and related notices.
Also incorporates amendments to the Bankruptcy rules (BR) and the Companies (winding up) rules (CWUR) to allow for the electronic submission of proxy forms.
Encompasses the miscellaneous amendments pertaining to the BO, the BR, the Bankruptcy (fees and percentages) order (cap.6C), and the CWUMPO.
Effectiveness
The bill will be introduced to HK PRL on Jul. 6, 2023 for first reading.
May 25, 2023 Bill Gazetted
On May 25, 2023, HK PRL published the bill in the gazette, to enable implementation of the ESS for ORO; streamline the publication requirements for insolvency.
Jul. 13, 2023 Bill Passage
On Jul. 13, 2023, HK PRL announced that on Jul. 12, 2023 the 2nd/3rd reading of the bill resumed and bill was passed on the same day; now awaiting ordinance gazettal.
Jul. 21, 2023 Ordinance Gazetted
On Jul. 21, 2023, HK PRL gazetted the Bankruptcy and companies legislation (miscellaneous amendments) ordinance 2023, effective upon publication in gazette.
Other than parts 2 and 3, which come into operation on a day to be appointed by the Secretary for Financial Services and the Treasury, by notice published in the gazette.
Aug. 3, 2023 Bankruptcy (Fees and Percentages) Order
On Aug. 3, 2023, HK GVT issued consolidated version of the Bankruptcy (fees and percentages) order(cap. 6C), as in force on Jul. 21 and reflecting amendments above.
Aug. 8, 2023 HK GVT Gazette
On Aug. 8, 2023, HK GVT published the Companies (winding up and miscellaneous provisions) ordinance, Companies (winding-up) rules and Bankruptcy rules on website.
Oct. 2023 Commencement Notice
On Oct. 20, 2023, HK GVT gazetted the Bankruptcy and companies legislation (miscellaneous amendments) ordinance 2023 (commencement) notice 2023.
Appoints Dec. 29, 2023 as the date on which sections 3-5, 8, 9, 15-18, 21 and part 3 (sections 27-82) of the ordinance gazetted on Jul. 21, 2023, come into force.
Mar. 2025 Additional Commencement Notice
On Mar. 21, 2025, HK GVT issued Bankruptcy and companies legislation (miscellaneous amendments) ordinance 2023 (commencement) notice 2025 (of Mar. 12).
The 2025 notice states that uncommenced provisions of Bankruptcy and companies legislation (miscellaneous amendments) ordinance 2023 take effect on Jul. 14, 2025.
Regulators
HK GVT; HK PRL
Entity Types
Corp
Reference
OG LN 40/2025, 3/21/2025; OG LN 146/2023, 10/20/2023; OG Cap. 32, 32H, 6A, 8/8/2023; PR, 8/3/2023; OG Ord. No. 22 of 2023, 7/21/2023; PR 7/13/2023; OG 5/25/2023; Bill IB&W/2/1/5/11C, 5/24/2023
