A306
Application
of sections
20 and 21 of the Securities Ordinance. (Cap. 333.)
Consequential
amendments
and transitional
provisions.
(Cap. 333.)
First Schedule.
Second Schedule,
Ord. No. 55/80
STOCK EXCHANGES UNIFICATION
42. (1) Section 20 of the Securities Ordinance shall not apply to any act done pursuant to this Ordinance in furtherance of the establishment of the Unified Exchange.
(2) Nothing in section 21 of the Securities Ordinance shall prevent the taking or use, or the attaching to or exhibition at any place of the title "stock exchange" or "exchange" or "Unified Exchange", or any title resembling any of such titles, for the purposes of any provision of this Ordinance in force.
43. (1) This section shall come into operation on the appointed day.
(2) The sections of the Securities Ordinance specified in the first column of the First Schedule are amended to the extent and in the manner set out in the second column of that Schedule.
(3) The provisions of the Second Schedule shall, notwithstanding any amendment effected by subsection (2), have effect with respect to the matters contained in that Schedule.
(4) Unless the context otherwise requires, a reference in any Ordin- ance to a recognized stock exchange or to a stock exchange approved or deemed to have been approved under the Securities Ordinance, shall be construed as a reference to the Unified Exchange.
FIRST SCHEDULE
AMENDMENTS TO THE SECURITIES ORDINANCE
Amendment
[s. 43(2).]
(Cap. 333.)
Section
Long title
1.
2.
By deleting "exchanges" and substituting "markets”.
2(1)
1.
By deleting "and a federation of stock exchanges”.
By deleting the definition of "committee" and substitut- ing the following—
(55 of 1980.)
2.
""committee", in relation to the Exchange Com- pany, means the Committee of the Exchange Company elected under section 9 of the Stock Exchanges Unification Ordinance 1980, and any succeeding committee, by whatever name called, for the management and control of the Exchange Company;".
In the definition of "corporate member", by deleting “a stock exchange" and substituting "the Exchange Company". 3. By deleting the definition of "Council".
4. By inserting, after the definition of "document", the following-
"Exchange Company" means the company recognized
as the Exchange Company under section 3 of the Stock Exchanges Unification Ordinance 1980;".
By deleting the definition of "Federation".
In the definition of "individual member", by deleting “a stock exchange" and substituting "the Exchange Company".
7.
In the definition of "listing", by deleting "a stock exchange" and substituting "the Unified Exchange".
(55 of 1980.)
5.
6.
Section
STOCK EXCHANGES UNIFICATION
Amendment
Ord. No. 55/80
A307
8. By inserting, after the definition of "listing", the follow- ing-
36
(55 of 1980.)
9.
"member", in relation to the Exchange Company or the Unified Exchange, means a member and an associate member, within the meaning of section 2 of the Stock Exchanges Unification Ordinance
1980, of the Exchange Company;”.
In the definition of "member firm", by deleting “a stock exchange" and substituting "the Exchange Company”.
10. By deleting the definition of "rules" and substituting the following-
""rules", in relation to the Exchange Company or the Unified Exchange, means the rules governing the operation and management of the Unified Exchange of the conduct of its members, by whatever name they may be called and wherever contained;”.
11. By deleting the definition of "stockbroker" and sub- stituting the following--
""stockbroker” means a dealer who is an individual member of the Exchange Company, partner of a member firm or director of a corporate member;".
12. By deleting the definition of "stock exchange" or "exchange".
13. In the definition of "stock market", by deleting "a stock exchange" and substituting "the Exchange Company".
14. By inserting, after the definition of "underwriter", the following
66
"Unified Exchange" or "exchange" means the stock (55 of 1980.) market established under section 27 of the Stock
Exchanges Unification Ordinance 1980;".
2(3)
1.
13
14(1)
14(1)(a)
By deleting "a stock exchange when the stock exchange has" and substituting "the Unified Exchange when the exchange has".
2.
By deleting "that exchange" and substituting "the Unified Exchange".
1. In paragraph (c), by deleting "Federation" and substitut- ing "Exchange Company and the Unified Exchange".
2.
In paragraph_(e), by deleting "Federation" and sub- stituting "Unified Exchange".
3. In paragraph (f), by deleting "stock exchanges" and substituting "the Unified Exchange".
By deleting "Federation" and substituting "Exchange Com- pany".
1. By deleting "stock exchanges" and substituting "the Unified Exchange".
2. In sub-paragraph (i), by deleting "exchanges" and sub- stituting "the Unified Exchange".
3. In sub-paragraph (ii), by deleting "at exchanges" and substituting "on the Unified Exchange".
4.
In sub-paragraph (iii), by deleting "at exchange" and substituting "on the Unified Exchange".
any
stock