19. Clause 25 requires every registered person to notify the
Commission of the location of records etc. relating to the relevant
business. The requirement extends to data equipment and the
Commission may require an alternative if a location is unsuitable.
The
20. Clauses 26 and 27 empower the Commission, after
consultation with the Financial Secretary, to make rules requiring
registered persons to maintain specified financial resources.
Commission may, if requested by any person to whom such rules
apply, by direction adapt the rules to the circumstances of that
person or his business.
Part V
21. Clause 28 enables the Commission to exercise certain
supervisory powers for the purposes of ascertaining whether the
provisions of the Bill, and certain other Ordinances (see the
definition of "relevant Ordinances" in clause 2), are being
complied with. The powers include power to enter business premises
and power to inspect and make copies of, or make or take any
abstract of or extract from, records or other documents and to
require the production of documents. There is protection as
regards banking and deposit-taking businesses. It is an offence to
refuse access to records or to fail to produce them when required,
or to produce false records or documents.
22. Clause 29 enables the Commission to obtain information
relating to the acquisition, disposal, purchase, sale or holding of
securities or futures contracts. This information includes the
name, address and occupation (or other material to assist
identification) of the person acquiring or disposing of the
securities or futures contracts (or on whose behalf the securities