82
CAP. 24]
Securities and Futures Commission
[1989 Ed.
(4) A period specified in a restriction notice in relation to a prohibition under subsection (1)(b) shall be a period not exceeding 6 months beginning on the date of the notice.
(5) The Commission may, after consultation with the Financial Secretary, by notice in writing extend, for a period or successive periods of not more than 3 months each, the period during which a restriction notice is to remain in force.
(6) Where a restriction notice is issued or extended under this section, the Commission may cause to be published in the Gazette a copy of the notice or, as may be appropriate, particulars of the extension.
(7) A restriction notice may, on the application of the Commission to the High Court, be enforced by an order of the High Court as if it were a judgment or order of that court.
(8) Where an Exchange Company or clearing house is in breach of a requirement in a restriction notice under subsection (1)(a)(i) relating to a provision of its memorandum of association, articles of association, rules or regulations or other instrument
(a) in the case of a requirement to amend such provision, the provision shall be deemed to have effect as if the requirement had been complied with;
(b) in the case of a requirement to withdraw or revoke such provision, the provision shall cease to have effect.
(9) Where-
(a) a restriction notice includes a requirement described in subsection (1)(a)(i) and the requirement relates to the memorandum of association or the articles of association of a company; and
(b) by virtue of subsection (8) the provision to which the requirement relates has effect as if the requirement had been complied with or, as the case may be, has ceased to have effect,
the Commission shall, as soon as may be, deliver to the Registrar of Companies a copy of the notice, and if there is an appeal under subsection (3) against the notice and the appeal is not withdrawn, the Commission shall, as soon as may be, inform such registrar in writing of the outcome of the appeal.
(10) No Exchange Company or clearing house, or any member, officer or servant of an Exchange Company or clearing house shall be liable in damages for any act or omission done or omitted in compliance or in purported compliance with a restriction notice unless the act or omission is shown by the person claiming the damages to have been done or omitted in bad faith.
(11) Nothing in this section shall be construed as enabling the Commission to do under this section anything which may be done by the Commission by direction or order under section 26 or 27 of the Securities Ordinance (Cap. 333) or section 21 of the Commodities Trading Ordinance (Cap. 250).