Company: GLXG
Filing Date: 2025-10-24
Form Type: 20-F
Source: 0001213900-25-102144
Chunk: 190

Company: Galaxy Payroll Group Ltd
Filing Date: 2025-10-24
Form: 20-F
Item: Item 10
Chunk 190
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Rights
of non-resident or foreign shareholders

There
are no limitations imposed by our Memorandum and Articles of Association on the rights of non-resident or foreign shareholders to hold
or exercise voting rights on our Ordinary Shares. In addition, there are no provisions in our Memorandum and Articles of Association
governing the ownership threshold above which shareholder ownership must be disclosed.

Issuance
of additional Ordinary Shares

Our
Memorandum and Articles of Association authorizes our Board of Directors to issue additional Ordinary Shares from authorized but unissued
Ordinary Shares, to the extent available, from time to time as our Board of Directors shall determine.

Differences
in Corporate Law

The
BVI Act and the laws of the BVI affecting BVI companies like us and our shareholders differ from laws applicable to U. S. corporations
and their shareholders. Set forth below is a summary of the significant differences between the provisions of the laws of the BVI applicable
to us and the laws applicable to companies incorporated in the United States and their shareholders.

Mergers
and similar arrangements

Under
the laws of the BVI, two or more companies may merge or consolidate in accordance with Part IX 170 of the BVI Act. A merger means the
merging of two or more constituent companies into one of the constituent companies and a consolidation means the uniting of two or more
constituent companies into a new company. In order to merge or consolidate, the directors of each constituent company must approve a
written plan of merger or consolidation, which must be authorized by a resolution of shareholders. While a director may vote on the plan
of merger or consolidation even if he has a financial interest in the plan, the interested director must disclose the interest to all
other directors of the company promptly upon becoming aware of the fact that he is interested in a transaction entered into or to be
entered into by the company. A transaction entered into by our company in respect of which a director is interested (including a merger
or consolidation) is voidable by us unless the director’s interest was (a) disclosed to the board prior to the transaction or (b)
the transaction is (i) between the director and the company and (ii) the transaction is in the ordinary course of the company’s
business and on usual terms and conditions. Notwithstanding the above, a transaction entered into by the company is not voidable if the
material facts of the interest are known to the shareholders and they approve or ratify it