Chicace by comparationePK,
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as dealers, commodily trading advisers, dealers' representatives and commodity trading advisers' representatives;
(d) providing for the examination of applicants for registration as dealers, Commodity trading advisers, dealers' representatives and commodity trading advisers' representatives, and for the fees to be paid for such examinations;
(<) providing for the exemption of such applicants from taking ex- aminations subject to such terms and conditions as may be prescribed;
( prescribing the particulars to be recorded in registers kept under
This Ordinance and the inspection of such registers;
(*) empowering the Commissioner to correct any errors in Boy
register kepi under this Ordinance;
(h) empowering the Commissioner, on payment of the prescribed fee (if any), to issue duplicate certificates of registration in the event of loss or destruction of the original certificates of registra- tion or duplicate certificates of registration;
(0 requiring dealers and commodity trading advisers to exhibit their
certificates or registration at their places of business;
( providing for the application of deposits made by or in respect
of dealers;
() prescribing the particulars to be recorded in, or in respect of,
accounts kept by dealers under this Ordinance;
( prescribing the particulars to be recorded in the profit and loss accounts and balance sheets and the information to be contained in auditor's reports required to be lodged under this Ordinance on the annual accounts of dealers;
(*) providing for the remuneration of an auditor appointed under this Ordinance, and for the costs of an audit carried out under this Ordinance;
(M) prescribing any forms for the purposes of this Ordinance:
(o) prescribing anything which is to be or may be prescribed by
regulations.
(2) Regulations made under this section may provide that a com- travention of specified provisions thereof shall be an offence and may provide penalties therefor not cxceeding a fine of $2,000 and imprison- ment for 3 months.
(3) Except as otherwise provided in this Ordinance, regulations made under this section may be of general or special application.
110. (1) Where an offence under this Ordinance committed by a cor- poration is proved to have been committed with the consent or conpiy- ance of, or to be attributable to any neglect on the part of, any director or employee of the corporation, or any person who was purporting to act in any such capacity, he, as well as the corporation, shall be guilty of the offence and shall be liable to be proceeded against and punished accordingly.
(2) Subject to subsection (3), for the purposes of this section, a per- son is deemed to be a director of a corporation if be occupies the position of a director by whatever name he may be called or is a person in ac cordance with whose directions or instructions the directors of the cor- poration or any of them act.
43
(3) A person shall not, by reason only that the directors of a cor- poration act on advice given by him in a professional capacity, be taken to be a person in accordance with whose directions or instructions those directors "act,
operadag
111. Where any corporation operates or undertakes the operation of Lublin of the Clearing House, all duties and obligations imposed by this Ordinance Worporado upon, and all penalties that apply under this Ordinance to, the Clearing Cleating House, are imposed upon and apply to the corporation and for this Howe, purpose references in this Ordinance to the Clearing House shall be deemed to be references to the corporalion,
112. For the purposes of this Ordinance an act, omission or failure uably of of any employee, agent or other person acting for or on behalf of any procipul individual, corporation or firm within the scope of his office or employ- for wel of ment shall be deemed to be the act, omission or failure of such individual, corporation er Arm, as well as of such employee, agent or other person.
ESCAL
syndicated
113 (1) Subject to subsection (4), any dealer or dealer's representa Provision tive who makes or offers to make a futures contract, whether on his own PATRİFUSE behalf or otherwise, with two or more individuals, or with a single wading individual knowing or having reason to believe that the individualis acting on behalf or for the benefit of two or more individuals, shall be guilty of an offence and shall be liable on conviction to a fine of $25,000 and to imprisonment for 1 year.
(2) Subject to subsection (4), any person who invites or offers to arrange for
(a) any individual to participate in a futures contract in which two or more other individuals also participate or are likely to parti- cipate; or
(b) any individual to make a futures contract knowing or having reasonable cause to believe that the individual will do so or behalf or for the benefit of two or more other individuals, shall be guilty of an offence and shall be liable on conviction to a fine of $23,000 and to imprisonment for 1 year.
For the purposes of subsections (1) and (2)-
(a) an individual who makes a futures contract acts for the benefit of every individual who shares in the profit or loss on the contract; and
(b) an individual participates in a futures contract if he shares in
the profit or loss on the contract.
(4) The Commission may by order published in the Gazerte exempt any person or contract or class or description of person or contract from subsections (1) and (2).
114. Without prejudice to the provisions of any other enactment rolat Prosecadan of ing to the prosecution of criminal offences and without prejudice to the offences, powers of the Attorney General in relation to the prosecution of such offences, the Commissioner may institute proceedings in respect of any offence against this Ordinance that is punishable on summary conviction.
115, The Governor in Council may, by order published in the Gazette, Amendoscos of amend-
(a) the First Schedule and the Second Schedule; and
(b) any sum specified in section 31(1), 82(1) or 85(2),
Schedule and sta opeckled in sections 31, 82 and 13. (Cap. (2.)