Owners' Corporation
An Owners' Corporation is a legal entity formed under the Building Management Ordinance by the owners of a private building. Owners' corporations are statutory bodies vested with certain legal powers to facilitate the management of a building. At the end of March 2004, there were 7,294 owners' corporations throughout Hong Kong, among which 5,537 were formed with the assistance of the district offices.
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Famous quotes containing the word corporation:
“What I am anxious to do is to get the best bill possible with the least amount of friction.... I wish to avoid [splitting our party]. I shall do all in my power to retain the corporation tax as it is now and also force a reduction of the [tariff] schedules. It is only when all other efforts fail that I’ll resort to headlines and force the people into this fight.”
—William Howard Taft (1857–1930)