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CONFICI.
163. (1) The Exchange Company, Clearing House, Guarantee Cor- poration and a dealer shall-
(d) produce any books, accounts and records kept by it or him in connexion with or for the purposes of its or his business or in respect of any trading în comunodity futures contracts; and
(b) provide any other information relating to its or his business
or any trading in commodity futures contracts,
as the Commission may require,
(2) If the Exchange Company, Clearing House, Guarantee Corpora- tion or any dealer, without reasonable excuse, fails to comply with any requirement under subsection (!), the Exchange Company, Clearing House, Guarantee Corporation or dealer, as the case may be, shall be guilty of an offence and shall be liable on conviction to a fine of $50,000.
104. An operator of a godowa registered under the rules of the Ex- change Company shall make such reports and keep such records, and permit inspection of such records and the godown," as the Commission may require.
105. The Commission may in writing direct the Exchange Company to amend the rules of the Exchange Company or the rules of a com modity market, as the case may be, if, after making the appropriate request to the Exchange Company to effect the required amendments on its own behalf, the Commision determines that the amendments have not been effected.
10% (1) No person at any time more than six months after the com. mencement of this section, other than the Exchange Company in respect of the Commodity Exchange, shall-
(a) take or use the Bic "commodity exchange" or "Hong Kong
Commodity Exchange Limited"; of
(6) take or use, or have attached to or exhibited at any place, any tillc which resembles either title specified in paragraph (a) or so closely resembles either such title as to be calculated to deceive.
(2) A person who is not a deater shall not
(a) take or use the lille or description "commodity dealer"; or
(b) take or use, or have attached to or exhibited at any place, any litle or description that resembles the title specified in para- graph (0) or so closely resembles such title as to be calculated To deceive.
(3) Any person who contravenes this section shall be guilty of an offence and shall be liable on conviction to a fine of $50,000 and, in the case of a continuing offence, to a further fine of $5,000 for each day during which the offence contimes.
107, (1) No commodity trading adviser shall coler into a commodity trading advisory contract with any person (in this section referred to as bis client), or extend or renew any such contract, or in any way perform any such commodity trading advisory contract entered into, extended or renewed after the commencement of this section, if the contract—–
(a) provides for remuneration to be paid by the client to the com- modity trading adviser on the basis of a share of capital gains of the funds or any part of the funds of the client;
(b) does not include a provision to the effect that an Assignment of the contract by the commodity trading adviser shall be made only with the consent of the client; or
(c) does not include a provision to the effect that the commodity
trading adviser-
(i) if a corporation, will notify the client of any change in the directors of the corporation; or
(0) 1 a firm, will notify the client of any change in the partners of the firm,
within a reasonable time after the change,
(2) Subsection (1)(a) does not prohibit a commodity trading advisory contract which provides for remuneration based on the total value of à fund averaged over a definite period, or on definite dates, or taken on a definite date.
(3) For the purposes of this section, "commodity trading advisory contract" means à contract or agreement whereby a person agrees lo act as a commodity trading adviser or to manage any commodity trading or trading account of a client, not being a company carrying on business as a commodity trading company and registered as such under the Com- (Cap. 32) panies Ordinance.
(4) Any commodity trading adviser who knowingly enters into any contract in contravention of subsection (1) shall be guilty of an offence and shall be liable on conviction to a die of $10,000.
(5) Any commodity trading advisory contract catered into in con- travention of subsection (1) shall, notwithstanding anything in the con- tract, be voidable at the option of the client.
108. Any person who-
(a) obstructs the Commissioner or any other public officer or any person in the exercise or performance of any power, authority, duty or function under this Ordinance; or
(b) without reasonable excuse, fails to produce any books, accounts. records or documents that the Commissioner of a person author- ized by the Commissioner bas, pursuant to any provision of this Ordinance, required that person to produce for inspection by the Commissioner or the person so authorized,
shall be guilty of an offence and shall be liable on conviction to a fine of $20,000 and to imprisonment for 6 months.
Oburkaloo.
109, (1) The Governor in Council may, after consultation with the embedd, Commission, make regulations for the better carrying out of the pur- poses and provisions of this Ordinance, and in particular and without prejudice to the generality of the foregoing, for all or any of the follow- ing matters
(a) the applications for registration, or renewal of registration, of dealers, commodity trading advisers, dealers' representatives and commodity trading advisers' representatives, and matters incidental to such registration or renewal of registration;
(6) prescribing the fees to be paid for registration, or renewal of
registration, of dealers, commodity trading advisers, dealers' re presentatives and commodity trading advisers' representatives;
(c) prescribing the appropriate standards with respect to the qualifi
cations experience and training of applicants for registration