48
CAP. 24]
Securities and Futures Commission
[1989 Ed.
(b) impose requirements which take account of any business carried on by the person concerned in conjunction with, or in addition to, the business carried on by him and referred to in subsection (1);
(c) make provision as to the assets, liabilities and other matters to be taken into account in determining a person's financial resources for the purposes of the rules and the extent to which, and the manner in which, they are to be taken into account for that purpose.
(3) Financial resources rules may provide that the rules or any provision thereof shall not apply, or shall apply with such modifications or only in such circumstances as shall be specified in the rules, to persons who have and maintain financial resources (in Hong Kong or elsewhere) in accordance with an authorization of an authority (in Hong Kong or elsewhere) which in the opinion of the Commission performs any function which is similar to a function conferred on the Commission by this section.
(4) (a) On the commencement of the rules first made under this section, section 65B of the Securities Ordinance (Cap.333) shall cease to have effect.
(b) On and from the commencement referred to in paragraph (a), sections 65C and 65D of the Securities Ordinance (Cap.333) shall each be construed and have effect as if for each of the references in those sections to section 65B there were substituted a reference to financial resources rules.
(5) Section 34 of the Interpretation and General Clauses Ordinance (Cap.1) applies to financial resources rules.
29. Modification of financial resources
rules in particular cases
(1) The Commission may, on the application of any person to whom financial resources rules apply, give a direction in writing altering the requirements of the rules so as to adapt them, subject to such conditions as may be specified in the direction, to the circumstances of that person or of any particular kind of business carried on, or to be carried on, by him.
(2) Where a direction is given under subsection (1)–
(a) thereupon the financial resources rules shall have effect in relation to the person to whom the direction relates in conformity with the direction and such direction shall take effect on the publication of the relevant notice pursuant to paragraph (b); and
(b) the Commission shall cause a notice stating that the direction has been given to be published in the Gazette.