Company: TOP
Filing Date: 2025-04-30
Form Type: POS AM
Source: 0001213900-25-037641
Chunk: 78

Company: TOP Financial Group Ltd
Filing Date: 2025-04-30
Form: POS AM
Chunk 78
---
 to say, a foreign judgment itself may
form the basis of a cause of action since the judgment may be regarded as creating a debt between the parties to it. In a common law
action for enforcement of a foreign judgment in Hong Kong, the enforcement is subject to various conditions, including but not limited
to, that the foreign judgment is a final judgment conclusive upon the merits of the claim, the judgment is for a liquidated amount in
a civil matter and not in respect of taxes, fines, penalties, or similar charges, the proceedings in which the judgment was obtained
were not contrary to natural justice, and the enforcement of the 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.

<div align='center'>35

INCORPORATION OF DOCUMENTS BY REFERENCE</div>

The SEC allows us to “incorporate by reference”
into this prospectus the documents we file with, or furnish to, it, which means that we can disclose important information to you by
referring you to these documents. The information that we incorporate by reference into this prospectus forms a part of this prospectus.
When we update the information contained in documents that have been incorporated by reference by making future filings with the SEC,
the information incorporated by reference in this prospectus is considered to be automatically updated and superseded. In other words,
in the case of a conflict or inconsistency between information contained in this prospectus and information incorporated by reference
into this prospectus, you should rely on the information contained in the document that was filed later.

We incorporate by reference into this prospectus
the documents listed below:

| ● 
 ● | our Annual report on Form                                                                                                               
 20-F for the fiscal year ended March 31, 2024, filed with the SEC on July 30, 2024;                                                     
 our reports of foreign                                                                                                                  
 private issuer on Form                                                                                                                  
 6-K, furnished to the SEC on October 18, 2024 and January 27, 202