Company: TOP
Filing Date: 2025-03-14
Form Type: POS AM
Source: 0001213900-25-024160
Chunk: 46

Company: TOP Financial Group Ltd
Filing Date: 2025-03-14
Form: POS AM
Chunk 46
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 judgment is not contrary to public policy of Hong Kong. Such a judgment must be for a fixed sum and
must also come from a “competent” court as determined by the private international law rules applied by the Hong Kong courts.
The defenses that are available to a defendant in a common law action brought on the basis of a foreign judgment include lack of jurisdiction,
breach of natural justice, fraud, and contrary to public policy. However, a separate legal action for debt must be commenced in Hong
Kong in order to recover such debt from the judgment debtor.

You may face difficulties in protecting your interests, and your ability to protect your rights through U.S. courts may be limited, because we are incorporated under Cayman Islands law.

We are a company
formed under the laws of the Cayman Islands. Our corporate affairs are governed by our amended and restated memorandum and articles of
association, the Companies Act and the common law of the Cayman Islands. The rights of shareholders to take action against our directors,
actions by our minority shareholders and the fiduciary duties of our directors to us under the Cayman Islands laws are to a large extent
governed by the common law of the Cayman Islands. The common law of the Cayman Islands is derived in part from comparatively limited
judicial precedent in the Cayman Islands as well as from the common law of England, the decisions of whose courts are of persuasive authority,
but are not binding, on a court in the Cayman Islands. The rights of our shareholders and the fiduciary duties of our directors under
the Cayman Islands laws are not as clearly established as they would be under statutes or judicial precedent in some jurisdictions in
the United States. In particular, the Cayman Islands has a less developed body of securities laws than the United States. Some U.S. states,
such as Delaware, have more fully developed and judicially interpreted bodies of corporate law than the Cayman Islands. In addition,
the Cayman Islands companies may not have standing to initiate a shareholder derivative action in a federal court of the United States.

Shareholders of Cayman
Islands companies like us have no general rights under the Cayman Islands laws to inspect corporate records, other than the amended and
restated memorandum and articles of association and any special resolutions passed by such companies, and the registers of mortgages
and charges of such companies. Our directors have discretion under our amended and restated memorandum and articles of association to
determine whether or not, and under what conditions,