88
CAP. 24]
Securities and Futures Commission
[1989 Ed.
(c) The Governor in Council may by order specify the percentage of the levy collected under paragraph (a) which is to be the amount thereof to be retained by the Stock Exchange Company pursuant to paragraph (b).
(4) The Futures Exchange Company shall collect, account for and pay to the Commission the levy referred to in subsection (2).
(5) The Governor in Council may by order amend the rate or amount of levy payable under subsection (1) or (2).
(6) If at any time in any financial year the reserves of the Commission, after deducting depreciation and all provisions, are more than an amount equivalent to twice the estimated operating expenses of the Commission for that financial year, submitted and approved in accordance with section 14(2), and the Commission then has no outstanding borrowings, the Commission shall consult the Financial Secretary with a view to recommending to the Governor in Council that the rate or amount of a levy payable under this section or fees or charges payable under section 54 be reduced.
(7) The amount of any levy payable under this section shall be recoverable as a civil debt due to the Commission.
(8) The Governor in Council may make rules providing for-
(a) the payment of the levies payable under this section;
(b) the imposition of charges for late payment of such levies; and
(c) the keeping, examination and audit of the accounts of the Exchange Companies relating to the collection and remission of such levies.
(9) In this section "leviable transaction" (T) has the same meaning as in section 79A(4) of the Commodities Trading Ordinance (Cap.250).
53. Appropriation
In each financial year there shall be paid to the Commission out of general revenue such moneys as shall be appropriated for that purpose by the Legislative Council.
54. Fees and other charges
(1) The Governor in Council may, after consultation with the Commission, make rules providing for the payment to the Commission of fees or other charges in relation to
(a) anything done by a committee of the Commission in the performance of a function relating to takeovers and mergers;
(b) any application to the Commission for any authorization, approval, exemption, waiver or modification under the relevant Ordinances;