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CAP. 24]
Securities and Futures Commission
[1989 Ed.
(5) Meetings of a committee established under this section shall be held at such times and places as the chairman of that committee may, subject to subsection (4), determine.
7. Staff of Commission
(1) The Commission may from time to time employ persons who shall be paid such remuneration and allowances and shall hold their employment on such other terms and conditions as the Commission shall determine.
(2) The Commission may make arrangements for or in respect of the provision and maintenance of such schemes (whether contributory or not) for the payment to its employees and their dependants of such retirement benefits, gratuities or other allowances as it may determine.
8. General powers of Commission
9. For the purposes of this Ordinance, the Commission may-
(a) acquire, hold and dispose of property of any description;
(b) make contracts or other agreements;
(c) receive and expend moneys;
(d) with the approval of the Financial Secretary, borrow money on such security or other conditions as it considers expedient;
(e) subject to section 59, cause to be printed or publish any material.
Delegation and sub-delegation of Commission's functions
(1) Subject to subsection (2), the Commission may delegate any of its functions, other than its power under this section to delegate or a function specified in the Schedule, to-
(a) any of the directors of the Commission;
(b) any committee established under section 6; or
(c) any employee of the Commission.
(2) (a) A delegation under this section shall not prevent the concurrent performance by the Commission of the function delegated.
(b) The Commission may revoke a delegation under this section.
(3) Where the Commission makes a delegation under this section, it may at the same time authorize the person or committee to whom the delegation is made to sub-delegate the function delegated and such authorization may contain restrictions or conditions as regards the exercise of the power to sub-delegate under the authorization.
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