The Macau Jockey Club’s proposal to rectify its alleged violation of the Commercial Code is still under analysis, Macau Business Daily has learned from the Gaming Inspection and Coordination Bureau (DICJ).
The Macau gaming regulator declined to comment on the details of the proposal and the legal consequences the company could face.
At the end of August, news outlet Hoje Macau reported that the Macau Jockey Club was in violation of the Commercial Code of the MSAR, as its corporate capital was lower than half of its original corporate capital at the time the company was set up.
According to Macau’s laws, should the company not inject corporate capital within 60 days to repair the situation, it would face dissolution, said the news outlet.
If neither the capital injection nor the proposal to dissolve the company happens, then the administrator can be punished with a fine or a three-month prison term.