Commis-
sion may establish committee.
Power of Governor Lo give directions to Com- missioner and Com- mmission.
18
(2) An authorization under subsection (1)(c) may be granted subject to such conditions as the Commission considers fair and reasonable.
16. (1) The Commission may establish standing or special committees and may refer to any such committee any matters for consideration, inquiry or management.
(2) Subject to sections 38 and 100, the Commission may delegate any of its powers, functions, and duties (other than the powers conferred by this section and the power to make rules conferred by section 14) to any committee established under subsection (1).
(3) The Commission may appoint as a member of any com- mittec established under subsection (1) any person (including a stockbroker) who, in its opinion, appears to be qualified to be a member of the committee, whether that person is a member of the Commission or not.
(4) Every delegation under subsection (2) and every appoint- ment under subsection (3) may be revoked by the Commission at any time, and no such delegation shall prevent the exercise or performance of any power or function or duty by the Commis- sion.
(5) Where any committee established under subsection (1) purports to act pursuant to any delegation made under subsection (2), it shall be presumed, until the contrary is proved, to be acting in accordance with the terms of the delegation.
(6) A committee established under subsection (1) may elect any of its members to be chairman and may, subject to any direc- tion of the Commission, regulate its procedure in such manner as it thinks fit.
Miscellaneous Matters relating to Commissioner und Commission
17. (1) The Governor may give such directions as he thinks fit (either generally or in any particular case) with respect to the exercise or performance by the Commissioner or the Commisssion of the powers, duties, and functions of the Commissioner or the Commission under this Ordinance.
(2) The Commissioner and the Commission shall, in the exercise or performance of any powers, duties, or functions under
19
this Ordinance, comply with any directions given by the Governor under subsection (1).
(3) The Commission shall, when required by the Financial Secretary, furnish to him reports with respect to the policy that it is pursuing or proposes to pursue in the exercise or perform- ance of any of its powers, duties, and functions under this Ordin- anite.
18. (1) All expenses incurred by the Commissioner or the Expendi- Commission or any other person in the administration of this Ordinance shall be met out of mancy provided by the Legisla tive Council.
tore and income of Commis- sioner and Commis-
(2) All money (including fines and fees) received by virtue sion. of this Ordinance by the Commissioner or the Commission (including the Disciplinary Committee) in the exercise or per- formance of any of their powers, duties, or functions under this Ordinance shall be paid into the general revenue.
19. (1) Except in the performance of bis duties under this Unlawful Ordinance, every person who has been appointed under or who use of is or has been employed in carrying out or in assisting any tion.
informa- persons to carry out the provisions of this Ordinance shall pre- serve and aid in preserving secrecy with regard to all matters coming to his knowledge in the performance of his duties under this Ordinance, and shall not communicate any such matter to any person nor suffer or permit any person to have access to any records in the possession, custody, or control of the Commissioner.
(2) Nothing in subsection (1) shall preclude a person from producing any document to any court in criminal proceedings or from disclosing to any court in criminal proceedings any matter or thing coming to his notice in the performance of his official duties referred to in that subsection.
(3) Regulations made under this Ordinance may prescribe a public office for the purposes of this section, and it shall not be a contravention of subsection (1) to disclose to the bolder of that public office information connected with the duties of that office.
(4) Subject to subsection (5), a member of the Commission and a person employed in the administration of this Ordinance shall not directly or indirectly effect or cause to be effected on bis own account or for the benefit of any other person any transaction in securities which he knows to be, or to be of a class which is, subject to investigation or proceedings under this