SECURITIES (DISCLOSURE OF INTERESTS)
Ord. No. 63/88
A367
(3) A person who fails to give information required of him under this section, or who in giving such information makes any statement which he knows to be false in a material particular, or recklessly makes any statement which is false in a material particular, commits an offence and is liable on summary conviction to a fine of $10,000 and to imprisonment for 6 months and on conviction upon indictment to a fine of $100,000 and to imprison- ment for 2 years.
43. Nothing in sections 33 to 42 shall require disclosure to the Privileged Financial Secretary or to an inspector appointed by him—
(a) by any person of information which he would in an action in the High Court be entitled to refuse to disclose on grounds of legal professional privilege except, if he is a lawyer, the name and address of his client; or
(b) by an authorized financial institution acting as a corporation's banker or financial adviser, of information as to the affairs of any of its customers other than the corporation.
information
[cf. 1985 c. 6, s. 452(1)
PART V
ORDERS IMPOSING RESTRICTIONS ON Shares
44. (1) So long as any shares are directed to be subject to the Consequence of restrictions of this Part-
order imposing restrictions
(a) any transfer of those shares or, in the case of unissued shares, any 1985 c. 6, s. 454
transfer of the right to be issued with them, and any issue of such shares is void;
(b) no voting rights are exercisable in respect of the shares;
(c) no further shares shall be issued in right of them or in pursuance of
any offer made to their holder; and
(d) except in a liquidation, no payment shall be made of any sums due from the company on the shares, whether in respect of capital or otherwise.
(2) Where shares are subject to the restrictions of subsection (1)(a), any agreement to transfer the shares or, in the case of unissued shares, the right to be issued with them is void (except an agreement to sell the shares on the making of an order under section 46(3)).
(3) Where shares are subject to the restrictions of subsection (1)(c) or (d), an agreement to transfer any right to be issued with other shares in right of those shares, or to receive any payment on them (otherwise than in a liquidation) is void (except an agreement to transfer any such right on the sale of the shares on the making of an order under section 46(3)).
45. (1) A person commits an offence and is liable to a fine of $10,000 and to imprisonment for 6 months if he
(a) exercises or purports to exercise any right to dispose of any shares which, to his knowledge, are for the time being subject to the restrictions of this Part or of any right to be issued with any such shares; or
Punishment for attempted evasion of
restrictions 1985 c. 6, s. 455