The Democratic Party said on Sunday it will start sorting out financial and administrative matters, after about 110 members authorised its leadership in a special meeting to follow up on the group's disbandment.

But party chairman Lo Kin-hei told reporters that a date has yet to be set for a general meeting to be held to discuss the disbandment proposal.

He said winding-up procedures can be initiated only after 75 percent of attendees at that meeting pass a motion to disband.

A liquidator will then be commissioned to manage the party's account until there's no money left, he added.

Lo said another meeting will be held so the liquidator can update members on the progress, after which the party will file documents to the Company Registry to complete the winding-up procedures.

Any outstanding assets after liquidation, he said, will be donated to local groups and charities.

Party vice-chairman Mok Kin-shing, meanwhile, said there are quite a number of procedures ahead, and the group may not be able to complete them this year.