Addition of
new wechon 45% and 43B.
(b)
2
(iv) by adding after paragraph (5) the following---
"(c) to a person who lades in commodity futures contracts on a cornumodity exchange which was in operation on 20 June 1973 as a member of such commodity exchange.";
in subsection (5) by deleting “knowingly"; and (e) by inserting after subsection (6) the following-
3.
"(7) In this section "futures contract" includes a contract cxecuted or represented as being for execution on any com- modity exchange, to buy or sell a specified commodity or any other commodity prescribed by the Commission for the purposes of this definition, for delivery, whether immediately or in the future.".
11 |
The principal Ordinance is amended by úfserting after section 45 the following...
"Leppe of
PONDAKCI Doles.
P
45A. (1) A dealer shall, in respect of every contract for the purchase, sale or exchange of a futures contract entered into by him in Hong Kong whether as principal or agent, make out a contract note which complies with sub- section (2) not later than the end of the next trading day after the date of execution, and-
(a) where the transaction was entered into as agent, deliver the contract note to the client not later than 3 days after such date;
זיה
(b) where the transaction was entered into as principal,
relain the contract acte for himself.
(2) A contract note made out by a dealer under sub- section (1) shall include-
(a) the name of the client under subsection (IX(a) to whom the dealer is required to give the contract note:
(8) the name or style under which the dealer carries on bis business as a dealer and the address of the principal place at which be so carries on business; (c) where the dealer is acting as principal, a statement
that be is so acting;
(d) the name of the commodity exchange on which the
contract has been executed;
(e) if the contract has been executed by an agent, the
name of the agent;
(f) the date of execution of the contract and the date
upon which the contract note is made out
(g) whether the contract is a new contract or a contract
for settlement:
(b) whether the contract is by way of
(i) purchase;
(D) sale: or
(iii) exchange
(0 the name of the commodity being bought, sold or
exchanged:
() the trading unit of the commodity:
(*) except in the case of a contract by way of exchange,
the price por trading unit;
Exeater Do
providin cerra|M čraducation Mixed,
elc. to client
3
() the number of trading units;
(r) the delivery date of the commodity;
(n) the rate or amount of commission payable in respect
of the contract.
(3) Any dealer who contravenes this section shall be guilty of an offence and shall be liable on conviction to a fine of $10,000 and to imprisonment for 6 months
45B. (1) Subject to subsection (2), every dealer sball, on being requested to do so by a client-
(a) provide the client with a copy of any contract note relating to the dealing, and a copy of the client's account with the dealer; and
(b) if the Comunissioner on the application of the clent so directs, make available for inspection by the client, at all reasonable times during the dealer's ordinary hours of business, the dealer's copy of the contract note and the client's account with the dealer.
(2) Subsection (1) does not require a dealer to-
(a) provide, or keep available for inspection, a copy of any contract note which relates to a dealing transacted more than 2 years before the date of the request; or
(b) provide a copy of, or keep available for inspection, any account which relates to a dealing transacted more than 7 years before the date of the request
(3) Any dealer who contravenes this section shall be guilty of an offence and shall be liable on conviction to a fine of $10,000 and to imprisonment for 6 months,”.
www
4. The principal Ordinance is amended by adding after section 60 Addition of the following
“Hawking
of fucces CONTACT.
60A. (1) Subject to subsections (2) and (3), a person shall not, whether on his own behalf or otherwise and whether by appointment or otherwise, call from place to placo
(a)
making or offering to make with any person-
(1) an agreement for or with a view to having that other person purchase or sell a futures con- tract; or
(7) zu agreement the purpose of pretended purpose of which is to secure a profit to that other person from a futures contract; or
(6) inducing or attempting to induce any other person to enter into any agreement referred to in para- graph (a),
whether or not in calling from place to place he does any other act or thing
(2) Subsection (1) does not apply to-
(a) a person in so far as-
(i) be calls at the place of another person who is a banker, solicitor, professional accountant,
new westion GOA.