PRINTED AND PUBLISHED BY D. S. P. PEARCE, ACTING GOVERNMENT PRINTER AT THE GOVERNMENT PRESS, Java Road, HONG KONG
:
COMMODITIES TRADING (AMENDMENT)
Ord. No. 54/80
A285
HONG KONG
No. 54 OF 1980
I assent.
L.S.
JACK CATER, Acting Governor.
7 August 1980.
An Ordinance to amend the Commodities Trading Ordinance.
[8 August 1980]
Enacted by the Governor of Hong Kong, with the advice and consent
of the Legislative Council thereof.
1. (1) This Ordinance may be cited as the Commodities Trading Short title and (Amendment) Ordinance 1980.
(2) Section 3 shall come into operation on a day to be appointed by the Governor by notice in the Gazette.
commencement.
2.
Section 26 of the principal Ordinance is amended- (a) in subsection (4)-——
Amendment of section 26.
(Cap. 250.)
(i) in paragraph (a) by inserting after "trades" the following-
"otherwise than as agent";
(ii) in paragraph (b) by deleting “(b), (c) or (d)" and substitut- ing the following—
"(b) or (c)"; and
(iii) by deleting the full stop at the end of paragraph (b) and substituting a semicolon; and
(iv) by adding after paragraph (b) the following—
"(c) to a person who trades in commodity futures contracts on a commodity exchange which was in operation on 20 June 1973 as a member of such commodity exchange.";
(b) in subsection (5) by deleting "knowingly"; and (c) by inserting after subsection (6) the following-
3.
"(7) In this section "futures contract" includes a contract executed or represented as being for execution on any com- modity exchange, to buy or sell a specified commodity or any other commodity prescribed by the Commission for the purposes of this definition, for delivery, whether immediately or in the future.".
The principal Ordinance is amended by inserting after section 45 Addition of the following —
**Issue of contract notes.
45A. (1) A dealer shall, in respect of every contract for the purchase, sale or exchange of a futures contract entered into by him in Hong Kong whether as principal or agent, make out a contract note which complies with sub- section (2) not later than the end of the next trading day after the date of execution, and—
new sections 45A and 45B.