A312
Ord. No. 55/80
Section
39(6)
STOCK EXCHANGES UNIFICATION
Amendment
By deleting the subsection and substituting the following-
"(6) For the purposes of this section "miscon- duct" means-
(55 of 1980.)
(a) any failure by the Exchange Company or the committee thereof to comply with the requirements of this Ordinance or the Stock Exchanges Unification Ordinance 1980, or any rules, regulations or directions made or given thereunder;
(b) any wilful contravention by the Exchange Company or the committee thereof of the constitution of the Exchange Company or the rules of the Unified Exchange; (c) any failure by the Exchange Company or by the committee thereof to ensure that the rules of the Unified Exchange are complied with by its members;
(d) any act or omission relating to the opera- tion of the Exchange Company or the Unified Exchange which, in the opinion of the Disciplinary Committee, is or is likely to be prejudicial to the interests of members of the investing public.".
By deleting "a stock exchange" and substituting "the Exchange Company".
$
STOCK EXCHANGES UNIFICATION
Ord. No. 55/80
A313
Section
Amendment
98(1)
1. By inserting, before the definition of "Committee" the following-
66
(55 of 1980.)
"appointed day" means the day appointed under section 27 of the Stock Exchanges Unification Ordinance 1980 for the commencement of opera- tion of the Unified Exchange;”.
2. In the definition of "default", by deleting "a stock exchange" and substituting "the Exchange Company".
3. By deleting the definition of "stockbroking business" and substituting the following-
"stockbroking business" means—
(a) a business of dealing in securities listed or quoted on the Unified Exchange carried on by a member of the Exchange Company;
(b) the administration of any trust, or the carrying on of the business of any company, in conjunc- tion with, or as an adjunct to, a business specified in paragraph (a);
(c) the retention of securities whether for safe keep- ing or otherwise, and whether for specific con- sideration or otherwise, in conjunction with, or as an adjunct to, a business specified in para- graph (a).".
By deleting Exchange".
"Stock Exchanges" and substituting "Unified
By deleting "Council of the Federation" and substituting "Exchange Company".
In paragraph (a), by deleting "stock exchanges" and sub- stituting "the Exchange Company".
2. By deleting paragraph (b).
By deleting "Council of the Federation and to each stock exchange" and substituting "Exchange Company".
By repealing and replacing the section by the following--
"Exchange Company to make deposits in respect
of members.
104. (1) The Exchange Company shall, subject to the provisions of this Part, deposit with the Commission and keep deposited in respect of each membership of the Exchange Company a sum of $50,000 payable in cash.
(2) The amount referred to in subsection (1) shall be deposited-
(a) in respect of every membership held on the appointed day, not later than 1 month after that date; and
(b) in respect of every membership taken up after the appointed day, not later than 1 month after the date on which such membership is taken up.
(3) For the purposes of this section and section 106, each share in the Exchange Company held by a member shall be deemed to constitute a separate membership.
52(6)(b)
66(1)(b)
By deleting "a stock exchange" and substituting "the Unified Exchange".
72(5)(d)
76(1)(a)
By deleting "exchange" and substituting "Unified Exchange".
By deleting "a stock exchange in Hong Kong" and substitut- ing "the Unified Exchange".
99
100(2)
101(1)
1.
103(4)
79(2)
By deleting "stock exchange of which he is a member" and substituting "Exchange Company".
104
80(1)
By deleting "a stock exchange" and substituting "the Unified Exchange".
80(4)(c)
By deleting "stock exchange of which he is a member" and substituting "Exchange Company".
90(2)
1. By deleting "stock exchange of which he is a member" and substituting "Exchange Company".
2. By deleting "stock exchange" and substituting "the Exchange Company".
90(3)
97
By deleting "stock exchange" and substituting "the Exchange Company".
1. By deleting "a stock exchange" and substituting "the Exchange Company".
2. By deleting "exchange" and substituting "Exchange Company".