52
$3
(Cap. 29.)
Exempt investment advisers.
Offence to
make a false
representa-
tion for the purpose of obtaining a certificate of registration under this Part.
(b) any trustee company registered under Part VIII of the
Trustee Ordinance; or
(c) any person belonging to class of persons, or carrying on a type of business, prescribed in regulations for the purposes of this paragraph,
to be an exempt dealer for the purposes of this Ordinance.
(5) The Commissioner may at any time revoke a declara- tion made under subsection (4).
(6) The Commissioner shall cause to be published in the Gazette at least once in every year the names and addresses of all persons who are exempt dealers.
61. (1) The Commissioner may declare any person to be an exempt investment adviser for the purposes of this Ordinance if he is satisfied that the business of that person complies with the following requirements, that is to say-
(a) the lovestment advice is given only to a person whose business involves the acquisition and disposal or the holding of securities; or
(b) the investment advice is given only to persons residing
outside Hong Kong.
(2) The Commissioner may at any time revoke a declara- tion under subsection (1).
62. (1) Any person who for the purpose of obtaining a certificate of registration under this Part, whether for himself or for any other person, makes any representation, whether in writing, orally or otherwise, which he knows to be false or mis- leading as to a material particular shall be guilty of an offence, and shall be liable on conviction on indictment, to imprisonment for 5 years.
(2) For the purposes of subsection (1), "representation" means a representation-
(a) of a matter of fact, either present or past; or
(b) about a future event; or
(c) about an existing intention, opinion, belief, knowledge,
or other state of mind,
(3) Proceedings in respect of an offence against this section may be brought at any time within 6 months of the discovery of the offence.
63. (1) Every dealer and investment adviser shall forthwith Informa- notify the Commissioner in writing of any change which, while his tion to be
provided by certificate of registration is in force, may occur
dealers, etc.
(a) in the address in Hong Kong at which he carries on the business of dealing in securities or of investment adviser, as the case may be, or
(b) in any information supplied in or in connexion with his application for registration or renewal of registra- tion, being information prescribed by regulations. (2) Every dealer and investment adviser shall forthwith, on ceasing to carry on business in Hong Kong as a dealer or an jovestment adviser, notify the Commissioner in writing of that face.
(3) If, at any time while a corporation is registered as a dealer or investment adviser, any person becomes or ceases to be director of the corporation, the corporation shall within 7 days after that event notify the Commissioner in writing of the name and address of that person and also his nationality or the fact that he has no nationality.
(4) If, at any time while a person is registered as a dealer's representative or investment representative, that person leaves or enters the service of, or becomes or ceases to be an agent of, any dealer or investment adviser, that person shall within 7 days after that event notify the Commissioner in writing of the fact and of the name and address of the dealer or investment adviser.
(5) Any person who, without reasonable excuse, contravenes any of the provisions of this section shall be guilty of an offence and shall be liable on conviction to a fine of $2,000.
(a) a register of dealers in which shall be entered the name of every registered dealer and such other particulars as may be prescribed by regulations in relation to registered dealers:
64. (1) The Commissioner shall establish and maintain at Commis- his office-
sioner to keep a register of dealers, etc.
(b) a register of investment advisers in which shall be entered the name of every registered investment adviser and such other particulars as may be prescribed by regulations in relation to registered investment adviser: (c) a register of dealers' representatives in which shall be entered the name of every registered dealer's representa-