Govt Proposes Tightening Company Registry Searches

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2021-03-29 HKT 22:25

Share this story

facebook

  • The government wants to eventually bar the public from accessing the personal information of executives through the company registry. File photo: RTHK

    The government wants to eventually bar the public from accessing the personal information of executives through the company registry. File photo: RTHK

The government has proposed barring the public from accessing some personal information about executives through company registry searches – a move that a journalists’ group says would seriously undermine press freedom.

In a proposal submitted to the Legislative Council on Monday, the Financial Services and Treasury Bureau said companies should at first be given the option to withhold information such as the residential address and full identification numbers of directors and secretaries.

Then, starting from October 2022, all company documents submitted to the registry that contains ‘protected information’ such as residential addresses could be hidden from public view.

Only specified groups of people, including the executives themselves, their companies, officials, and member of ‘public organisations’ would have access to the privileged information.

Finally, all companies could apply to withhold ‘protected information’ from the registry by late 2023.

Only correspondence address and partial identification numbers of the executives would remain open to public scrutiny through the registry.

The government is planning to submit the relevant legislation to Legco in May.

It says the new restrictions will strike a balance between adequate public access to information and concerns over misuse of personal data.

However, the Hong Kong Journalists Association says it is strongly opposed to the proposal, and called for its immediate withdrawal.

It says the new restrictions would “seriously undermine press freedom”, as well as the rights of minority shareholders and labour groups.

Such information is routinely used by journalists as part of their research.

The association said the government instead should enact a freedom of information law – as well as an archives law – to protect the public's right to know.

The association had also previously raised concerns over the prosecution of RTHK producer Bao Choy, who has been accused of violating the Road Traffic Ordinance by making false statements to obtain vehicle licence records.

The information was used in an investigative report on the 2019 Yuen Long mob attacks.

RECENT NEWS

Ant International And Bank Of China Partner To Enhance Cross-Border Payment Connectivity

Ant International and Bank of China (Hong Kong) (“BOCHK”) announced a partnership which leverages BOCHK’s banking... Read more

BitGo Korea Gets Green Light For Virtual Asset Custody, Backed By SK Telecom

BitGo Holdings, Inc. (BitGo) announced that its subsidiary, BitGo Korea, Inc. (BitGo Korea), received its Virtual Asset... Read more

Webinar: When Account Takeover Moves Past Onboarding

Account takeover shows why fraud risk cannot be treated as an onboarding problem. Fraudsters are using stolen credentia... Read more

JCB To Trial Stablecoin Payments In Japan With Digital Garage And Lawson

JCB Co., Ltd. (JCB), Digital Garage, Inc. (Digital Garage), and Lawson, Inc. (Lawson) announced that they have jointly ... Read more

Bonnie Chan To Lead HKEX Until Feb 2030 After Securing Second Term

The HKEX Board of Directors has approved the renewal of the employment contract of Hong Kong Exchanges and Clearing Lim... Read more

Ripple Signs Its First Korean Regional Bank In Cross-Border Remittance Deal

Ripple, a blockchain-based enterprise solutions provider for traditional and digital finance, announced a partnership w... Read more