38
CAP. 24]
Securities and Futures Commission
[1989 Ed.
(b) his educational or other qualifications or experience having regard to the nature of the functions which, if the application is allowed, he will perform;
(c) his ability to perform such functions efficiently, honestly and
fairly; and
(d) his reputation, character, financial integrity and reliability. (4) For the purposes of this section, the Commission may have regard to any information in its possession whether furnished by the applicant or not.
(5) For the purposes of subsection (2), the Commission may take into account any decision relating to authorization made in relation to the applicant by the Commissioner for Banking or the Insurance Authority or by any other authority (whether in Hong Kong or elsewhere) which in the opinion of the Commission performs any function similar to a function conferred on the Commission by this section, section 51 of the Securities Ordinance (Cap. 333) or section 30 of the Commodities Trading Ordinance (Cap. 250).
(6) For the purposes of subsections (2) and (3), the Commission may-
(a) take into account any matter relating to-
(i) any person who is or is to be employed by, or associated with, the applicant for the purposes of the proposed business to which the application relates;
(ii) any person who will be acting as a representative in relation
to such business;
(iii) where the applicant is a company, any substantial share-holder, director or officer of the company, any other company in the same group of companies or to any director or officer of any such other company; and
(iv) where the applicant is a partnership or a firm, any of the
partners; and
(b) have regard to any other business which the applicant carries on
or proposes to carry on.
(7) This section shall not be construed as in any way affecting the power of refusal conferred on the Commission by section 53(1) of the Securities Ordinance (Cap. 333) or section 32(1) of the Commodities Trading Ordinance (Cap. 250).
(8) In subsection (6) “substantial shareholder" (A), in relation to a company, means a person who has an interest in shares in the company-
(a) the nominal value of which is equal to more than 10% of the
issued share capital of the company; or
(b) which entitle the person to exercise or control the exercise of more than 10% of the voting power at any general meeting of the company.