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CAP. 24]
Securities and Futures Commission
[1989 Ed.
it
(3) The Commission shall not give a direction under subsection (1) unless it appears to it that-
(a) compliance with the requirements in question would be unduly burdensome for the applicant having regard to the benefit which compliance would confer on the investing public; and
(b) the direction, if given in the particular case, would not result in
any undue risk to the investing public.
(4) (a) A direction under subsection (1) shall continue in force until withdrawn by the Commission, and where the Commission proposes to withdraw any such direction it shall give at least 7 days' notice in writing of its intention to the person concerned and such withdrawal shall take effect on the publication of the relevant notice pursuant to paragraph (b).
(b) Where the Commission withdraws a direction under paragraph (a), it shall cause a notice of the withdrawal to be published in the Gazette.
PART V
REGULATION OF REGISTERED PERSONS' BUSINESS, ETC.
30. Supervision
(1) For the purpose of ascertaining whether a person who is, or at any time has been, a registered person is complying or has complied with any provision of or any requirement under the relevant Ordinances or the terms and conditions of any certificate of registration issued to him, a person ("an authorized person" (RA)) authorized in writing for the purposes of this section by the Commission may at all reasonable times-
(a) enter the premises of the registered person notified by him to the
Commission under section 27; and
(b) inspect and make copies of any record or other document, or part thereof, or make or take any abstract of or extract from any record or other document relating in either case to the business to which such certificate of registration applies.
(2) For the purpose of enabling an authorized person to exercise his powers under subsection (1)(b), he may require the registered person or any other person whom he reasonably believes is in possession of or has under his control any record or other document mentioned in that subsection to produce it to him.
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