31Commission may destroy or dispose of documents

31 Commission may destroy or dispose of documents

(1) Notwithstanding subsection 31(10) of the Companies Act 1981, where a corporation that is a recognized company for the purposes of the Companies Act 1981 was, immediately before the commencement of that Act, registered as a foreign company under the Companies Ordinance 1962, the Commission may, if in the opinion of the Commission it is no longer necessary or desirable to retain them, destroy or dispose of any documents lodged by or in relation to that corporation under the Companies Ordinance 1962 or under any corresponding previous law of the Territory. (2) Notwithstanding subsection 31(10) of the Companies Act 1981, where a corporation that was, immediately before the commencement of the Companies Act 1981, registered as a foreign company under the Companies Ordinance 1962 becomes a recognized foreign company for the purposes of the Companies Act 1981, the Commission may, if in the opinion of the Commission it is no longer necessary or desirable to retain them, destroy or dispose of any documents lodged by or in relation to that corporation under the Companies Ordinance 1962 or under any corresponding previous law of the Territory.