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Ord. No. 55/80
STOCK EXCHANGES UNIFICATION
Section
Page
PART III
THE UNIFIED EXCHANGE
27.
The Unified Exchange
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•
28.
Annual fee for right to operate stock market
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29.
Premises of the Unified Exchange
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PART IV
LIQUIDATION OF EXISTING EXCHANGES
30.
Liquidation of existing exchanges
+
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31.
Financial Secretary may petition for winding up
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32.
Insolvency of existing exchange..
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33.
Part V of the Companies Ordinance to apply
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PART V
MISCELLANEOUS
34.
Rules of the Unified Exchange
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35.
Commission to approve proposed rules and amendments to con-
stitution, etc.
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36.
Withdrawal of recognition of the Exchange Company
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37.
Appeal against withdrawal of recognition
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38.
Delegations to committees, etc.
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39.
Commissioner may prosecute
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40.
Extensions of time
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41.
Regulations
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42.
Application of sections 20 and 21 of the Securities Ordinance
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43.
Consequential amendments and transitional provisions
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First Schedule
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Second Schedule
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STOCK EXCHANGES UNIFICATION
Ord. No. 55/80
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HONG KONG
No. 55 of 1980
I assent.
L.S
JACK CATER, Acting Governor.
7 August 1980.
An Ordinance to provide for the establishment of a single, unified stock exchange in Hong Kong; to provide for an Exchange Com- pany to operate the Unified Exchange; to provide for the winding up of existing exchanges; to make consequential and incidental amendments to the Securities Ordinance; and to provide for related
matters.
[
1
Enacted by the Governor of Hong Kong, with the advice and con- sent of the Legislative Council thereof.
PART I
PRELIMINARY
commencement.
1. This Ordinance may be cited as the Stock Exchanges Unification Short title and Ordinance 1980 and shall, subject to section 43, come into operation on a day to be appointed by the Governor by notice in the Gazette.
2. (1) In this Ordinance, unless the context otherwise requires-- "appointed day" means the day appointed by the Financial Secretary
under section 27;
"articles of association" means the articles of association of the Exchange
Company;
"associate member" means—
(a) in relation to the Exchange Company, a shareholder of the Exchange Company defined as an associate member by the articles of association; and
(b) in relation to an existing exchange, a member of an existing exchange expressed or deemed by or under the constitution of the existing exchange to be an associate or overseas member (by whatever name called);
"Commission" means the Securities Commission established under Part II
of the Securities Ordinance;
"Commissioner" means the Commissioner for Securities appointed under
section 6 of the Securities Ordinance;
"Committee" means the Committee elected under section 9 and any succeeding committee, by whatever name called, for the management and control of the Exchange Company;
"constitution", in relation to the Exchange Company or an existing exchange means the memorandum and articles of association of the Exchange Company or existing exchange, as the case may be; "corporation" means any company or other body corporate formed or
incorporated either in Hong Kong or elsewhere;
Interpretation.
(Cap. 333.)