1988 Ed.]
Securities (Disclosure of Interests)
[CAP. 396
29
(6) A person who-
(a) fails to perform, within the proper period, a duty to which he is subject under subsection (3)
or
(b) in purported performance of such a duty, makes to a listed company a statement which he knows to be false, or recklessly makes to a listed company a statement which is false,
or to the Exchange Company 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 imprisonment for 2 years.
(7) The rules set out in Part I of the Schedule have effect for the interpretation of, and otherwise in relation to, subsections (1) and (2); and subsections (6) and (7) of section 28 apply with any requisite modification.
(8) For purposes of section 29, a duty imposed on a director or chief executive by this section is deemed to be imposed by section 28.
(9)
Company
Duty to notify Unified Exchange, Commissioner and Commissioner of Banking of matters notified under preceding sections
[cf. U.K. 1985 c. 6, s. 328]
32. (1) Whenever a listed company is notified of any matter by a director, chief executive or shadow director in consequence of the performance of a duty imposed by section 28 or 31, and that matter relates to listed shares or listed debentures, the company is under a duty to notify the Unified Exchange and the Commissioner of that matter.
(2) Upon receipt of any information under subsection (1) the Unified Exchange shall forthwith publish such information in such manner and for such period as may be approved by the Commissioner.
(3) Whenever a listed company that is or is the holding company of an authorized financial institution is notified of any matter by a director, chief executive or shadow director in consequence of the performance of a duty imposed by section 28 or 31, and that matter relates to listed shares or listed debentures, the company is under a duty (in addition to the duty imposed by subsection (1)) to notify the Commissioner of Banking of that matter.
(4) A duty imposed on a listed company by subsection (1) or (3) must be fulfilled before the end of the day next following that on which it arises.
(5) If default is made in complying with this section, the listed company and every officer of it who is in default commits an offence and is liable to a fine of $2,000.
[cf. U.K. 1985 c. 6, s. 329]
PART IV
POWER TO INVESTIGATE LISTED COMPANY OWNERSHIP
Power to investigate ownership of a listed company
33. (1) Where it appears to the Financial Secretary that there is good reason to do so, he may appoint one or more competent inspectors to investigate and report on the membership of any listed company, and otherwise
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