Section
22
24(4)
25
26, 27, 28
and 29
20
Amendment
(b) take or use, of have attached to or exhibited at any place, any title which resembles any of the ütles referred to in paragraph (4) of which so closely resembles any of such filles as to be calculated to deceive.".
By deleting "stock_market of a stock ckchange" and sub- stituting “Unified Exchange".
By deleting "exchange" and substituting "market”.
By repealing the section.
By repealing and replacing the sections by the following-
"Sospension
of dealings
tor misconduct, RLE
(55 KČ 19EKNI
26. (1) The Commission may-
(a) on any of the grounds specified in seo- tion 36 of the Stock Exchanges Unifica- tion Ordinance 1960; and
(D) instead of withdrawing its recognition of the Exchange Company pursuant to that section,
direct that the premises of the Unified Exchange be closed forthwith for the transaction of dealings În securities and remain closed until the Commis- sjon revokes the direction.
(2) Without prejudice to the exercise of its powers under subsection (1), the Commission may, where it has received a recommendation from the Disciplinary Committee pursuant to section 39(2Xo) in respect of the Exchange Company, which the Committee has found guilty of misconduct under that section, direct that the premises of the Unified Exchange be closed for the transaction of dealinga in securities and remain closed until the Commnis- sion revokes the direction,
(3) The Commission shall give to the Ex- change Company not less than 14 days' notice in writing of its intention to issue a direction under subsection (1) or (2) and the notice shall specify the grounds therefor.
(4) While a direction under subsection (1) or (2) remains in force, the recognition of the Exchange Company given under section 3 of the Stock Exchanges Unification Ordinance 1980 shall, for the purposes of the application of sections 20, 21 and 22. be deemed to have been withdrawn,
(5) Where any direction under subsection (1) or (2) is in force, any authorized officer may take such steps as may be necessary to ensure that the premises to which the direction relates are tocked and secured.
(6) Any person who eaters or attempts to enter any premises in respect of which a direction under subsection (1) or (2) is in force without the authority of an authorized officer shall be guilty of an offence and shall be liable on conviction to a fine of $50,000.
Section
Cobridomet
kay order cloure of United Excite in covergroções,
CHE
Publication of direction or order in the GAIN.
Appeal apzin direction, etc.
21
Amendment
(7) Where any direction is issued under sub- section (1) or (2), that direction shall take effect immediately, notwithstanding that an appeal has been made or may be madă under section 29.
(8) In this section "authorized officer" mcang the Commissioner or any police officer,
27. (1) Without prejudice to the powers of the Commission under section 26, the Commis sioner may, after consultation with the Exchange Company, order that the Unified Exchange be closed for the transaction of dealings in securities for a period not exceeding 5 bank trading days.
(2) The Commissioner may muke an order under subsection (1) on the ground that, in his opinion, the orderly transaction of business on the Unifled Exchange is being or is likely to be prevented because
(a) an emergency or natural disaster has
occurred in Hong Kong; or
(b) there exists an economic or financial crisis, wheiber in Hong Kong or clse- where, or any other circumstance, which ia likely to prevent orderly trading on the Unifled Exchange.
(3) An order made under subsection (1) may
be renewed by a further order for a further period
of not more than 10 bank trading days.
(4) Any dealer who deals in securities listed on the Unified Exchange while an order made under subsection (1) or (3) is in force (being an order which has been notified to the committee of the Exchange Company) shall be guilty of an offence, and shall be liable on conviction to a fine of $50,000.
(5) Where an order under subsection (1) or () has been made, the Commissioner may lake such steps as are necessary to secure compliance with the order and may, in particular, cause the premises of the Unified Exchange to be locked and secured.
(6) Any person who, without the authority of the Commissioner, cuters or attempts to enter the premises of the Unified Exchange which have been locked and secured under subsection (5) shall be guilty of an offence and shall be liable on conviction to a fine of $20,000.
28. Where the Commission issues any direc tion under section 26(1) or (2), or the Commis aioner makes any order under section 27(1) or (3), notice of the direction or order, as the case may be, shall be published in the Gazette.
29. (1) Where
(a) the Commission has issued a direction
under section 26(1) or (2) or