Commodities Trading
[CAP. 250
25
(4) Every decision of the Commission imposing a penalty under subsection (2) on a person shall be notified to that person in writing and shall include a statement of the reasons on which it is based.
(5) For the purposes of this section "misconduct" means--
(a) any failure to comply with the requirements of this Ordinance or the Securities and Futures Commission Ordinance (Cap. 24) or any regulations made thereunder with respect to dealers, commodity trading advisers, dealers' representatives or commodity trading advisers' representatives, as the case may be;
(b) any failure to observe the terms and conditions of a certificate of registration;
(c) any act or omission relating to the conduct of business of a dealer, commodity trading adviser, dealer's representative or commodity trading adviser's representative, as the case may be, which is or is likely to be prejudicial to the interest of members of the investing public.
37. Effect of revocation or suspension of registration
(1) (Repealed 10 of 1989 s. 65)
(Replaced 10 of 1989 s. 65)
(2) A revocation or suspension of the registration of a person does not operate so as to-
(a) avoid or affect any agreement, transaction or arrangement relating to the trading in commodity futures contracts entered into by such person, whether the agreement, transaction or arrangement was entered into before or after the revocation or suspension of the registration; or
(b) affect any right, obligation or liability arising under any such agreement, transaction or arrangement.
(3) A person whose registration is revoked under section 35 (other than paragraph (a)(iii) or (iv), paragraph (b)(ii) or (v) or paragraph (c)(ii) or (v) of subsection (2) of that section) or 36 may not apply to be registered under this Part, whether as a dealer, commodity trading adviser, dealer's representative or commodity trading adviser's representative, until the expiration of at least 12 months from the date of revocation.
38-39. (Repealed 10 of 1989 s. 65)
40. False representations in obtaining registration
(1) Any person who for the purpose of obtaining registration or renewal of registration under this Part, whether for himself or for any other person, makes any representation, whether in writing, orally or otherwise, which he