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28
(2) If, in a prosecution for an offence under subsection (1), it is proved that the person charged-
(a) destroyed, concealed or altered any book, account or record men-
tioned in paragraph (4) of that subsection; er
(b) sent or conspired to send out of Hong Kong any such book, account or record, or any property mentioned in paragraph (b) of that subsection,
the onus of proving that fa so doing he did not act with intent to prevent, delay or obstruct the carrying out of an examination and audit under this Part shall lie on him.
(3) Any person who, with intent to prevent, delay or obstruct the carrying out of an examination and audif under this Part leaves Hong Kong shall be guilty of an offence and shall be liable on conviction upon indictment to a fine of $50,000 and to imprisonment for 2 years.
57. Except as may be necessary for the carrying into effect of the provisions of this Ordinance or so far as may be required for the purposes of any legal proceedings, whether civil or criminal, an auditor appointed under section 52 or 53 or any employer of such auditor shall not divulge Any information which may come to his knowledge in the course of performing his duljed as such auditor or employee, as the case may be, to any person other than-
(a) the Commission;
(8) the Commissioner;
(c) the Financial Secretary or any person approved or designated by
the Financial Secretary; and
(c) in the case of an employee, the auditar by whom he is employed.
58. Nothing in this Part shall prevent the Exchange Company or Commissioner from imposing on dealers any further obligations or requiro- ments which it or he thinka necessary with respect to-
(2) the audit of accounts;
(b) the information to be given in reports by auditors; or
(c) the keeping of accounts, books and records.
PART VI
TRADING PRACTICES
59. (1) The Commission may, by rule, establish and fix limits on the amount of trading which may be done, or positions which may be held. by any person under futures contracts in respect of a specified commodity on, or subject to the rules of, the relevant commodity market,
(2) Nothing in subsection (1) shall be construed as prohibiting the Commission from fixing different trading or position limita for different specified commodities, commodity markets or delivery months or from excmpling certain transactions specified in the rule.
60. Where under section 39 the Commission has established any limits, no person shall-
(a) directly or indirectly, buy or sell or agree to buy or sell, under futures contracts for such specified commodity on, or subject to the rules of, the commodity market to which the rule applies,
any amount of such specified commodity, during any one business day in excess of any trading limit fixed for one business day or other stated period by the Commission; or
(6) directly or indirectly hold or control a net long or net short position in such specified commodity for future delivery on, or subject to the rules of, the relevant commodity market in excess of any position limit fixed by the Commission for or with respect to such specified commodity.
DOMA
61. No person shall transact on or through any commodity market, Deados iz or bold himself out as being prepared to transact on or through any com- probleted. modity market, any dealing which confers on any person an option to purchase or sell any commodity, except as provided in the rules of the commodity market.
62. (D) No person shall intentionally create or cause to be created, Fabe radiog or do saything with the intention of creating a false or misleading apptar- ance of active trading in any commodity on any commodity market.
(2) No person shall circulate or disseminate, or authorize or be con- cerned in the circulation, or dissemination of, any statement or information to the effect that the price of any futures contract will or is likely to rise or fall because of the market operations of one or more persons which, to his knowledge, are conducted in contravention of subsection (1)
63. No person shall, directly or indirectly, in connexion with any Employment transaction with any other person involving the purchase or sale of a futures contract-
(a) employ any device, scheme or artifice to defraud that other
person; or
(6) engage in any act, practice or course of business which operates as a fraud or deception, or is likely to operate as a fraud or deception, of that other person.
of traudu or destadve devices etc.
64. No person shall, directly or indirectly, for the purposes of inducing False or the purchase or sale of a futures contract, make......
(a) any statement which is, at the time and in the light of the cir- cumstances in which it is made, false or misleading with respect to any material fact and which he knows or has reasonable grounds for believing is false or misleading; or
(8) any statement which is, by reason of the omission of a material fact, rendered false or misleading and which he knows or has reasonable grounds for believing is rendered false or misleading by reason of the omission of that fact.
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65. (1) Any person who cooktavence section 60 or 61 shall be guilty Odence.
of an offence and shall be liable on conviction upon indictment to a finc
of $10,000 and to imprisonment for 6 months.
(2) Any person who contravenes section 62, 63 or 64 shall be guily of an offence and shall be liable on conviction upon indictment to a fine of $100,000 and to imprisonment for 3 years,
PART VII
COMMODITIEs Trading Commission DISCIPLINARY COMMITTES
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66. (1) Where the appointment of a Disciplinary Committee is Appoin.co hecessary for the purpose of considering any appeal under this Ordinance, of the the Commission shail, and where it appears to the Commission, to be commance. desirable that any allegation should be "inquired into by a Disciplinary Committee, the Commission may, appoint a Disciplinary Committee of the Commission for that purpose.