1989 Ed.]
Stock Exchanges Unification
[CAP. 361
7
12. Eligibility for individual members
(1) Subject to subsection (2), no individual shall be eligible to be a member of the Exchange Company unless he is—
(a) a dealer registered under Part VI of the Securities Ordinance (Cap. 333);
(b) of good character and integrity; and
(c) a person born in Hong Kong or who has been ordinarily resident in Hong Kong for 5 out of the 7 years immediately preceding his application for membership of the Exchange Company.
(2) Notwithstanding anything in subsection (1)(c) or in the constitution of the Exchange Company, the Commission may, on application made to it in writing by the Exchange Company, authorize the Exchange Company to admit to membership an individual who is not qualified therefor by reason of that subsection if, in the opinion of the Commission, he is a person of good reputation experienced in dealing in securities.
(Replaced 59 of 1985 s. 7)
13. Eligibility for being a corporate member
No body corporate shall be eligible to be a member of the Exchange Company unless—
(a) it is a dealer registered under Part VI of the Securities Ordinance (Cap. 333);
(b) it is incorporated in Hong Kong;
(c) the only business carried on by it is that of dealing in securities and those activities which are normally ancillary to a stock-broking business; and
(d) it is of good financial standing and integrity.
(Replaced 59 of 1985 s. 7)
14. Certain persons not to be ineligible to be members of the Exchange Company
Any provision in the constitution of the Exchange Company having the effect that any of the following persons shall not be eligible to be members of the Exchange Company shall be void—
(a) a director or employee of a bank licensed under the Banking Ordinance (Cap. 155) to carry on business in Hong Kong,
(b) a director or employee of a deposit-taking company, registered or licensed under the Banking Ordinance (Cap. 155); or
(c) a solicitor, professional accountant (within the meaning of the Professional Accountants Ordinance (Cap. 50)) or a barrister; or