The articles of association of Hong Kong companies generally give the board of directors of Hong Kong companies the power to manage Hong Kong companies, but the general meeting of shareholders of Hong Kong companies usually reserves some powers, such as determining the remuneration of directors.
The power of the board of directors of Hong Kong companies is exercised through the meetings and resolutions of the board of directors of Hong Kong companies. No director of a Hong Kong company has such power. The articles of association of a Hong Kong company generally stipulate that the board of directors of a Hong Kong company shall have the following powers:
1. Use the official seal on behalf of Hong Kong companies;
2. When there is a vacancy in the directorship of a Hong Kong company, appoint a new director;
3. Convene the shareholders' meeting of the Hong Kong company;
4. Exercise the company's right to borrow money, issue new shares or bonds in the registered share capital of Hong Kong companies, and call for payment;
5. Sign bills of exchange, checks and receipts;
6. Authorize other employees to exercise power on behalf of the Hong Kong company, but not beyond the power of the directors of the Hong Kong company.
Please feel free to exchange information about Hong Kong companies with us.