1988 Ed.]
Securities (Disclosure of Interests)
[CAP. 396
41
PART III
and the Exchange Company
Circumstances in which duty imposed by section 28 is not performed
15. (1) Where an event of whose occurrence a director or chief executive is, by virtue of section 28(2)(a), under a duty to notify a company consists of his entering into a contract for the purchase by him of shares or debentures, the duty is not performed in the absence of inclusion in the notification of a statement of the price to be paid by him under the contract.
(2) A duty imposed on a director or chief executive by section 28(2)(b) is not performed in the absence of inclusion in the notification of the price to be received by him under the contract.
16. (1) A duty imposed on a director or chief executive by virtue of section 28(2)(c) to notify a company is not performed in the absence of inclusion in the notification of a statement of the consideration for the assignment (or, if it be the case that there is no consideration, that fact).
(2) Where an event of whose occurrence a director or chief executive is, by virtue of section 28(2)(d), under a duty to notify a company consists in his assigning a right, the duty is not performed in the absence of inclusion in the notification of a similar statement.
17. (1) Where an event of whose occurrence a director or chief executive is, by virtue of section 28(2)(d), under a duty to notify a company consists in the grant to him of a right to subscribe for shares or debentures, the duty is not performed in the absence of inclusion in the notification of a statement of-
(a) the date on which the right was granted;
(b) the period during which or the time at which the right is exercisable;
(c) the consideration for the grant (or, if it be the case that there is no consideration, that fact);
and
(d) the price to be paid for the shares or debentures.
(2) Where an event of whose occurrence a director or chief executive is, by section 28(2)(d), under a duty to notify a company consists in the exercise of a right granted to him to subscribe for shares or debentures, the duty is not performed in the absence of inclusion in the notification of a statement of--
(a) the number of shares or amount of debentures in respect of which the right was exercised;
and
(b) if it be the case that they were registered in his name, that fact, and, if not, the name or names of the person or persons in whose name or names they were registered, together (if they were registered in the names of 2 persons or more) with the number or amount registered in the name of each of them.
18. In this Part, a reference to price paid or received includes any consideration other than money.
45/90516
PART IV
Provisions with respect to register of directors' and
chief executives' interests to be kept under section 29
19. The register must be so made up that the entries in it against the several names appear in chronological order.
20. A duty imposed by section 29(2) to (4) must be performed before the expiration of the period of 3 days beginning with the day after that on which the duty arises.
21. The nature and extent of an interest recorded in the register of a director or chief executive in any shares or debentures shall, if he so requires, be recorded in the register.
22. The company is not, by virtue of anything done for the purposes of section 29 or this Part, affected with notice of, or put upon enquiry as to, the rights of any person in relation to any shares or debentures.
23. The register shall-
(a) if the company's register of members is kept at its registered office, be kept there;
(b) if the company's register of members is not so kept, be kept at the company's registered office or the place where the register of members is kept; or
(c) if the company does not have a registered office in Hong Kong, be kept at the company's principal place of business in Hong Kong,