106
CAP. 24]
Securities and Futures Commission
[1989 Ed.
(7) Where, immediately before the establishment day, any legal proceedings are pending to which the Company is a party, the name of the Commission shall be substituted for that of the Company and the proceedings shall not abate by reason of such substitution.
(8) The Stamp Duty Ordinance (Cap.117) shall not apply to the vesting in the Commission of property or rights transferred by this section.
64. Transitional
(1) The Securities Commission Disciplinary Committee as constituted immediately prior to the establishment day shall continue in existence for the purposes of completing any inquiry commenced under section 39 of the Securities Ordinance (Cap.333), or hearing any appeal commenced under section 58 of that Ordinance, prior to that date but not at that date completed or disposed of, and for the purposes of this subsection-
(a) any such inquiry or appeal may be continued and completed or disposed of; and
(b) any order or decision of the Disciplinary Committee so constituted may be made or given and shall have the same force and effect,
as if this Ordinance had not been enacted.
(2) Any proceedings before a Disciplinary Committee or an Appeals Committee appointed under section 66 of the Commodities Trading Ordinance (Cap.250) commenced prior to the establishment day under that Ordinance but not completed or disposed of at that day may be continued and completed or disposed of (by the making of an order or otherwise) by such Committee as if this Ordinance had not been enacted.
(3) Any business being the business of a committee established under section 16 of the Securities Ordinance (Cap.333) or section 9 of the Commodities Trading Ordinance (Cap.250) and subsisting immediately before the establishment day which had not been completed and disposed of at that day shall be transferred to and be the business of a corresponding committee established under section 6 of this Ordinance.
(4) Any claim for compensation from a compensation fund made under-
(a) the transitional arrangements in Schedule 2 to the Stock Exchanges Unification Ordinance (Cap.361) which has not been disposed of at the establishment day may be continued and disposed of under those transitional arrangements after the establishment day;
(b) Part X of the Securities Ordinance (Cap.333) which has not been disposed of at the establishment day may be continued and disposed of under that Part after the establishment day;