Company: TOP
Filing Date: 2025-08-13
Form Type: 20-F
Source: 0001213900-25-075728
Chunk: 60

Company: TOP Financial Group Ltd
Filing Date: 2025-08-13
Form: 20-F
Item: Item 10
Chunk 60
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ated memorandum and articles of association on the rights of non-resident or foreign shareholders to hold or exercise voting rights
on our shares. In addition, there are no provisions in our amended and restated memorandum and articles of association governing the ownership
threshold above which shareholder ownership must be disclosed.

Issuance of additional Ordinary Shares

Our amended and restated memorandum and articles
of association authorizes our board of directors to issue additional Ordinary Shares from authorized but unissued shares, to the extent
available, from time to time as our board of directors shall determine.

Exempted Company

We are an exempted company
with limited liability under the Companies Act. The Companies Act distinguishes between ordinary resident companies and exempted companies.
Any company that is registered in the Cayman Islands but conducts business mainly outside of the Cayman Islands may apply to be registered
as an exempted company. The requirements for an exempted company are essentially the same as for an ordinary company except that an exempted
company:

  does not have to file an annual return of its shareholders with the Registrar of Companies;                                                        
  is not required to open its register of members for inspection;                                                                                    
  does not have to hold an annual general meeting;                                                                                                   
  may issue negotiable or bearer shares or shares with no par value;                                                                                 
  may obtain an undertaking against the imposition of any future taxation (such undertakings are usually given for 20 years in the first instance);  
  may register by way of continuation in another jurisdiction and be deregistered in the Cayman Islands;                                             
  may register as a limited duration company; and                                                                                                    
  may register as a segregated portfolio company.                                                                                                    

“ Limited liability” means that the
liability of each shareholder is limited to the amount unpaid by the shareholder on the shares of the company.

10. C. Material contracts

Other than those described in this annual report,
we have not entered into any material agreements other than in the ordinary course of business.

10. D. Exchange controls

The Cayman
Islands, British Virgin Islands and Hong Kong currently have no exchange control regulations or currency restrictions.

10. E. Taxation

Cayman Islands Taxation

The Cayman Islands currently
levies no taxes on individuals or corporations based upon profits, income, gains or appreciation and there is no taxation in the nature
of inheritance tax or estate duty. There are no other taxes likely to be material to us levied by the government of the Cayman Islands