Company: MEGL
Filing Date: 2025-04-14
Form Type: 20-F
Source: 0001641172-25-004566
Chunk: 58

Company: Magic Empire Global Ltd
Filing Date: 2025-04-14
Form: 20-F
Item: Item 4
Chunk 58
---
  -                                                                 Not                HK$100,000    

Pursuant
to the FRR, if the licensed corporation is licensed for more than one regulated activity, the minimum paid-up share capital and liquid
capital that the corporation should maintain shall be the highest amount required among those regulated activities.

GCL
is required to have a minimum paid-up share capital of HK$10,000,000 and to maintain minimum liquid capital of HK$100,000.

Notification
to the SFC of certain events and changes

Pursuant
to sections 123 and 135 of the SFO and the Securities and Futures (Licensing and Registration) (Information) Rules (Chapter 571S of the
Laws of Hong Kong), licensed corporations, licensed individuals and registered institutions are required to notify the SFC within the
specified time limit of certain events and changes in their particulars, which include, inter alia, any intended cessation to carry on
any regulated activity for which he/she/it is licensed, any intended change of address at which it proposes to carry on the regulated
activity for which it is licensed and any cessation to be a director of a licensed corporation.

Submission
of audited accounts

Section
156(1) of the SFO provides that licensed corporations and associated entities of intermediaries (except those which are authorized financial
institutions) shall submit their audited accounts and other required documents within four months after the end of each financial year.
If a licensed corporation ceases carrying on all of the regulated activities for which it is licensed, it should submit to the SFC its
audited accounts and other required documents, made up to the date of cessation, not later than four months after the date of the cessation.
The same requirement applies to an associated entity (which is not an authorized financial institution) of an intermediary upon its ceasing
to be an associated entity of the intermediary under section 156(2) of the SFO.

Submission
of financial resources returns

Licensed
corporations are required to submit monthly financial resources returns to the SFC. However, pursuant to section 56 of the FRR, corporations
that are licensed only for Type 4 (advising on securities), Type 5 (advising on futures contracts), Type 6 (advising on corporate finance),
Type 9 (asset management) and/or Type 10 (providing credit rating services) regulated activities and whose licenses are subject to the
condition that they shall not hold client assets