Organisation As at 31 March 2008, the Registry had a total of 349 staff, of whom 282 were civil servants and 67 were contract staff, as compared with

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1 Functions and Organisation Functions The Companies Registry was established as a government department on 1 May 1993 and, later, a trading fund department on 1 August On 1 August 2007, the Registry entered its fifteenth year of operation as one of the first trading fund departments under the Trading Funds Ordinance (Chapter 430). The following ordinances are administered and enforced by the Registry: Companies Ordinance (Chapter 32) Limited Partnerships Ordinance (Chapter 37) Trustee Ordinance (Chapter 29) (with respect to trust companies) Registered Trustees Incorporation Ordinance (Chapter 306) Money Lenders Ordinance (Chapter 163) Miscellaneous incorporation ordinances Within the framework of the above legislation, the Registry undertakes the following major functions: Incorporation and Registration To provide services and facilities to allow promoters of companies, limited partnerships, trust companies and trustees to incorporate their enterprises, to register non-hong Kong companies, to deregister defunct, solvent private companies and to register all documentation required to be filed by the various ordinances governing those enterprises. Public Search To provide the public with services and facilities to search for the information held by the Registry on the various statutory registers. Enforcement To ensure compliance by companies or other enterprises and their officers with their obligations under relevant ordinances. Policy and Legislation To advise the Government on policy, regulatory and legislative issues regarding company law and related legislation, corporate governance and other matters affecting the commercial sector. 38 Companies Registry

2 Organisation As at 31 March 2008, the Registry had a total of 349 staff, of whom 282 were civil servants and 67 were contract staff, as compared with the manpower strength of 333 as at 31 March The increase was mainly attributable to additional staff employed to meet the increased workload. The Registry s organisation on 31 March 2008 was as follows: Annual Report

3 Managers of the Headquarters Team Managers of the Company Formation and Enforcement Division Managers of the Public Search Division Managers of the Registration Division 40 Companies Registry

4 Human Resources Staff Training The Registry is committed to equipping all staff with the necessary skills and knowledge so that they could discharge their duties efficiently and effectively, and provide a quality service to members of the public. The Registry adopts a strategic and proactive approach in staff training and development. The Departmental Training and Development Plan for has been drawn up to meet the operational needs of the Registry on the one hand and the development needs of staff on the other. To equip staff with the necessary skills to cope with the Registry s computerised operation under Integrated Companies Registry Information System and to support the Administration s e-government initiatives, priority has continued to be given to information technology training. Staff of the Registry also attended various other training courses to enhance their professional skills, including Putonghua, legal studies, customer services and management courses. In addition to classroom training provided by the Civil Service Training and Development Institute or other bodies, in-house talks and experience sharing sessions were conducted. They included customer services training sessions, integrity talks and talks on giving evidence in trials. The Registry has also organised video shows on different topics of interest, such as physical health and food safety. In addition, staff are encouraged to make use of the training materials provided by the Civil Service Training and Development Institute at the Cyber Learning Centre over the internet. In , a total of 508 training days were undertaken by staff. To promote a culture of continuous learning and self-development in the civil service, the Registry has continued to run the External Training Sponsorship Scheme for Front-line Staff and External Management Training Sponsorship Scheme by providing financial support for staff to pursue work-related training or management courses. Annual Report

5 Customer service training Performance Management Staff performance has been monitored and assessed through a performance management system. Apart from day-to-day supervision and guidance, supervisors are required to complete performance appraisals on their subordinates annually to evaluate their performance and to identify their training and development needs. The appraisals also serve to assist the management in considering career postings and promotions, and in taking remedial or disciplinary actions against sub-standard performers. Recruitment In line with the initiatives on civil service reform and the downsizing of the civil service establishment, the Registry had not recruited Companies Registration Officer II since the last recruitment exercise in Recruitment has been resumed in January 2008 to fill vacancies arising from natural wastages and to address potential succession problems in the grade. 42 Companies Registry

6 Communication The Registry values communication with staff. A Departmental Consultative Committee, which comprises representatives from both management and staff sides, meets regularly to discuss issues which affect the well-being of members of the Registry. In addition, all staff are invited to attend periodic Staff Liaison Meetings chaired by the Registry Manager who will brief participants of various issues which are of concern and interest to the staff members, such as the latest civil service policies and developments in the Registry. Staff members may also express their views on issues of concern to them. Both the Departmental Consultative Committee and the Staff Liaison Meetings serve to enhance understanding and cooperation between the management and staff members, with a view to identifying issues of concern early. Staff Relations During the year, the Registry continued to organise various kinds of social and recreational activities to enhance staff relations and physical well-being. Staff and their family members actively participated in these activities. Activities held in included barbecue, outing, video shows on health topics, a 2-day trip to the Mainland, cookery class and the Christmas party and dinner. As an initiative to boost staff welfare, the Registry has established a multipurpose room for use by staff members in May Cake making class Annual Report

7 Outing to Qing Yuan, Guangdong Christmas dinner party 15th Anniversary of the establishment of the Companies Registry 44 Companies Registry

8 Staff Motivation and Recognition The Registry has implemented a Staff Motivation Scheme to promote awareness of, commitment to and continuous improvement of performance pledges. The scheme consists of the following awards: The Registry Performance Award to acknowledge excellent performance of the Registry as a whole by awarding all eligible members of staff The Best Suggestion Award to acknowledge best effort in making efficiency and improvement suggestions relating to the operation of the Registry The Best Service Award to acknowledge specific service performance by awarding specific divisions/sections The Best Counter Staff Award to acknowledge the provision of quality customer services by awarding individuals voted by customers to be the best counter staff The Good People and Good Deeds Award to acknowledge exemplary conduct and superlative efforts of individual staff The Registrar of Companies presenting the Best Service Award to the winning team the Deregistration Unit Annual Report

9 As the Registry has exceeded the targets of all the pledged services for , the Registry Performance Award was granted to all eligible staff to recognise their efforts. In 2007, the "Deregistration of Companies Issue of approval letter", which is a service provided by the Deregistration Unit, was voted by our major and counter customers as the winner of the Best Service Award. The target standard for the service was to complete 97 per cent of all cases within 5 working days. In , the performance of the Deregistration Unit exceeded the target standard and it was able to achieve the target in nearly 99.5 per cent of the cases. Fourteen winners of the Best Counter Staff Award were selected by our counter customers who returned 2,121 voting tickets. This award has helped to instill a commitment to provide a courteous and efficient service among our front-line staff. Other civil service-wide staff recognition schemes, such as the Long and Meritorious Service Travel Award and the Long and Meritorious Service Award Schemes are also in place to recognise long and meritorious service. In , three officers from the Registry received the Long and Meritorious Service Travel Award and eight officers were awarded the Long and Meritorious Service Certificates. 46 Companies Registry

10 Finance As a trading fund department, the Registry is required to operate on a self-financing basis and commercial principles. The Trading Funds Ordinance stipulates that a trading fund should meet expenses incurred in the provision of service out of its income and achieve a reasonable return on the fixed assets employed. The annual accounts of a trading fund must be prepared in accordance with generally accepted accounting principles and tabled in the Legislative Council. For the financial year ended 31 March 2008, the total turnover and surplus for the year amounted to $366.4 million and $130.1 million respectively, compared to the turnover of $322.2 million and surplus of $118.6 million recorded in The Registry achieved a 26.8 per cent return on the average net fixed assets employed for the year. The average annual rate of return on average net fixed assets employed since the Registry commenced operations as a trading fund in August 1993 stands at a healthy level of 14.6 per cent, compared to the target rate of 8.3 per cent. This remarkable achievement was attributable to our constant efforts to enhance productivity and efficiency of service. The substantial surplus generated over the past years has enabled the Registry to build up a healthy reserve to finance its development projects. All the expenses on the development of the Integrated Companies Registry Information System (ICRIS) and Phase I of the rewrite of the Companies Ordinance have been funded from the Registry s reserves. In , the Registry s financial position remains very strong. As at 31 March 2008, the trading fund capital together with retained earnings amounted to $655.3 million. Gearing, measured as the ratio of non-current liabilities to capital and retained earnings, stood at a low level of 9 per cent. On the other hand, cash and placements with banks amounted to $426.1 million. Capital expenditure over the next few years will be mainly on the development of Phase II of ICRIS, improvements in system security and system upgrades to cater for changes in statutory requirements and government network and IT requirements. Annual Report

11 Turnover Operating Expenditure 48 Companies Registry

12 The Annual Accounts for the year ended 31 March 2008, together with the Report of the Director of Audit on the Accounts, are at Appendix C. The table below provides some key figures on the Registry s financial performance in the past five years: $M $M $M $M $M Turnover Operating costs Profit after tax Dividends paid to Government Rate of return on average 9.8% 18.6% 22.6% 23.2% 26.8% net fixed assets Note Note The target rates of return for trading funds have excluded interest income and expenditure from the calculation of return from onwards. The figures for to have been restated for the sake of comparison on a like-with-like basis. Annual Report

13 Turnover and Operating Costs Profit After Tax and Dividends Paid to Government Rate of Return on Average Net Fixed Assets Gearing Ratio 50 Companies Registry

14 Social Responsibility From the Social Responsibility perspective, we aim to maintain the highest ethical standards in the conduct of our business, enhance our contribution to society and provide a nurturing working environment for our staff. Integrity Management The Registry attaches great importance to integrity management and is dedicated to supporting the Government s sustained efforts to entrench an ethical culture and maintain a clean and honest civil service in Hong Kong. A Companies Registry Integrity Management Committee was set up in to formulate a long term staff integrity management strategy. The Committee developed an Integrity Management Plan and an Action Programme for to promote staff awareness of and alertness to integrity issues and various regulations and guidelines governing conduct and discipline. The Committee meets regularly to monitor the progress of the Action Programme and review the integrity-management measures of the Registry. Occupational Safety and Health The Registry cares about the occupational safety and health of its staff. The Companies Registry Safety Committee was set up in 2000 and the committee meets on a regular basis to discuss issues in relation to safety and health risks in the workplace. The Committee also recommends and monitors measures for improving the safety and health of its staff. As a corollary, staff are encouraged to attend training courses on occupational safety and health issues. In addition, the Registry conducts occupational safety inspections regularly to identify potential hazards in the workplace, and issues guidelines and internal circulars in respect of communicable diseases and contingency plans. Indoor Air Quality We participated in the "Indoor Air Quality Certification Scheme for Offices and Public Places" organised by the Environmental Protection Department. A certificate was awarded to the Registry, certifying that the indoor air quality in the floors occupied by it in the Queensway Government Offices had fully met the standard of "Good" indoor air quality. Annual Report

15 Social Services The Companies Registry Volunteer Team was established in 2002 to help the underprivileged and to serve the community. In support of the "Civil Service Volunteer Action", which was one of the initiatives introduced to celebrate the 10th anniversary of the establishment of the HKSAR, our Volunteer Team participated in various volunteer activities in , including a seminar on volunteer services, a volunteer star campaign and a visit to an elderly centre in Aberdeen. In recognition of the effort and contribution of our staff in volunteer activities, our Volunteer Team received the "Award for Active Participation" granted by the Secretary for the Civil Service in January Companies Registry Volunteer Team visiting an elderly centre Job Shadowing On 23 January 2008, the Registry joined hands with the Junior Achievement Hong Kong to host a one-day Job Shadowing programme. The programme was organised to expose young people to a real business environment, to equip them for the job market and to encourage them to make an early start in planning for their future. The Registry sponsored 12 Sixth Form students, who "shadowed" their workplace mentors as they went through a normal day at work. 52 Companies Registry

16 Students from the Caritas Chong Yuet Ming Secondary School participating in the Job Shadowing Programme Donations The Registry s staff continued to demonstrate their community spirit by actively participating in various donation programmes, such as the Green Day, Dress Special Day, Skip Lunch Day and the Community Assistance Raised by Employees Scheme organised by the Community Chest. They also contributed generously to the relief efforts for the Sichuan earthquake victims. Staff participating in Community Chest s Walk for Millions Annual Report

17 Environmental Protection The Registry is very conscious of the importance of environmental protection and is committed to developing and conducting all our services and operations in an environmentally friendly manner. The Business Manager has been appointed as the Green Manager who, together with four Assistant Green Managers, has been tasked to promote and oversee the development and implementation of green measures in the Registry. We have adopted the following environmental policies and principles: Encouraging the efficient use of energy and materials by adopting green purchasing and the three "R" principles Reduce, Re-use and Recycle materials Maintaining a high level of environmental awareness amongst staff and encouraging them to practise the 3 Rs Complying with legislation, regulations and standards on environmental protection Minimising waste and ensuring its safe handling Pursuing environmental protection through the adoption of environmentally friendly technologies, minimisation of possible adverse impact on the environment and continuing to find ways to improve the Registry s environmental performance Conducting environmental audits as and when necessary In , we participated in the "Indoor Air Quality Certification Scheme for Offices and Public Places" organised by the Environmental Protection Department. A certificate was awarded to the Registry, certifying that the indoor air quality in the floors it occupied in the Queensway Government Offices fully met the standard of "Good" indoor air quality. 54 Companies Registry

18 Our targets and actual performance on various green measures are as follows: Target Performance Target % % % Waste Minimisation 100 using blank side of used paper for drafts using recycled/wood-free paper re-using envelopes or using transit envelopes using refillable ball pens using old sets of documents for re-circulation Waste Recovery for Recycling/Re-use collection of waste paper collection of used printer cartridges Energy Conservation routine checking to switch off lights, photocopiers, etc outside office hours Measures during Festive Seasons re-using decorations The Chief Executive signed the Clean Air Charter (the Charter) on behalf of the Government of the HKSAR on 27 November In , we continued to contribute to improving air quality and reducing the emission of air pollutants in accordance with the principles and spirit of the Charter. We will also continue with our efforts to reduce energy and paper consumption and promote awareness of green measures. Annual Report

19 Risk Management The business of the Registry is carried out through various information technology (IT) systems, such as the Integrated Companies Registry Information System and internal communication system. To ensure that the systems add value to our business and to minimise IT risks, the Registry has established a Development Steering Committee, comprising the Registrar of Companies, a representative from the Financial Services and the Treasury Bureau and other senior members of the Registry to oversee, inter alia, the Registry s IT functions and their interface with the Registry s core business activities to ensure the alignment of IT systems with the corporate mission, policies and objectives. The Registry has developed a business continuity plan to reduce business risk in the event of a disruption. This includes a disaster recovery system supporting critical functions or operations and ensuring the continuity of a minimum level of services. We have also conducted disaster recovery drills periodically to ascertain the proper functioning of the disaster recovery system. IT security failure is costly to business. To ensure information security, we have developed IT security policy, Disaster Recovery Plan, Contingency Plan, Guidelines on Information Security Incident Handling, End User Instructions on IT Security and Departmental Contingency Plan for observance by staff. On top of these guidelines and instructions, we have continued to provide regular updates to staff with a view to fostering security awareness and compliance with various security policies and instructions, including the proper use of portable electronic storage devices. Regular IT security audits are also performed by independent auditors to examine the Registry s IT security protection measures. 56 Companies Registry

香港土地註冊處營運基金年報

香港土地註冊處營運基金年報 Human Resources Management 2014 3 31 479 132 2013/14 1,900 2013 6 54 The Land Registry Trading Fund Hong Kong Staff Development Staffing The Land Registry maintains a well-trained and highly flexible team