1989 Ed.]
Stock Exchanges Unification
{CAP. 361
13
41. Regulations
(1) The Governor in Council may, after consultation with the Commission, make regulations for the better carrying out of the purposes and provisions of this Ordinance.
(2) Regulations made under this section may provide that a contravention of any provision thereof shall be an offence, and may provide penalties therefor not exceeding a fine of $20,000 and imprisonment for 3 months.
42. Application of sections 20 and 21 of the Securities Ordinance
(1) Section 20 of the Securities Ordinance (Cap. 333) shall not apply to any act done pursuant to this Ordinance in furtherance of the establishment of the Unified Exchange.
(2) Nothing in section 21 of the Securities Ordinance (Cap. 333) shall prevent the taking or use, or the attaching to or exhibition at any place of the title "stock exchange" or "exchange" or "Unified Exchange", or any title resembling any of such titles, for the purposes of any provision of this Ordinance in force.
43. Consequential amendments and transitional provisions
(1) This section shall come into operation on the appointed day.
(2) (Repealed 59 of 1985 s. 13)
(3) The provisions of Schedule 2 shall have effect with respect to the matters contained in that Schedule. (Amended 59 of 1985 s. 13)
(4) Unless the context otherwise requires, a reference in any Ordinance to a recognized stock exchange or to a stock exchange approved or deemed to have been approved under the Securities Ordinance (Cap. 333), shall be construed as a reference to the Unified Exchange.
44. Exchange Company to amend its articles of association
(1) The Exchange Company shall alter its constitution to provide for the matters specified in Part I of Schedule 1.
(2) The provisions of Part II of Schedule 1 shall apply to the alteration referred to in subsection (1).
(3) Where the Commission is of the opinion that the Exchange Company has failed to comply with subsection (1) or is unreasonably delaying compliance, it may in writing direct it so to comply within such time as may be specified in the direction, and the Commission may, prior to the time so specified, extend such time by a further direction in writing.
(Added 59 of 1985 s. 14)