SUNDAY, NOVEMBER 28, 1976
REGISTRATION OF DEALERS UNDER COMMODITIES TRADING ORDINANCE ******
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A SPOKESMAN FOR THE OFFICE OF THE COMMISSIONER FOR SECURITIES TODAY REMINDED THAT THOSE WHO WISH TO BE REGISTERED AS COMMODITY DEALERS UNDER PART IV OF THE COMMODITIES TRADING ORDINANCE 1976 SHOULD SEND IN THEIR APPLICATIONS AS SOON AS POSSIBLE.
THE PART IV OF THE ORDINANCE, WHICH WILL COME INTO OPERATION ON JANUARY 1, NEXT YEAR AS ANNOUNCED IN THE GAZETTE LAST FRIDAY, ALSO DEALS WITH COMMODITY TRADING ADVISERS AND REPRESENTATIVES.
UNDER THE ORDINANCE, IT WILL BE AN OFFENCE FOR A PERSON TO CARRY ON THE BUSINESS OF A COMMODITY DEALER, COMMODITY TRADING ADVISER OR A REPRESENTATIVE ON JANUARY 1, 1977, AND THEREAFTER IF HE IS NOT DULY REGISTERED AS SUCH.
ONE OF THE PRE-CONDITIONS FOR REGISTRATION OF A COMMODITY DEALER IS THAT THE APPLICANT, OR THE CORPORATION OR FIRM TO WHICH HE IS ACCREDITED, MUST BE A SHAREHOLDER OF THE HONG KONG COMMODITY EXCHANGE OR A MEMBER, OR WHOLLY OWNED BY SUCH A MEMBER OF AN OVERSEAS EXCHANGE LISTED IN THE SECOND SCHEDULE TO THE COMMODITES TRADING ORDINANCE, 1976.
ALSO, A COMMODITY DEALER WHO IS NOT A SHAREHOLDER OF THE HONG KONG EXCHANGE COMPANY HAS TO DEPOSIT WITH THE COMMISSIONER $100,000 ON REGISTRATION.
A GUIDANCE PAMPHLET FOR APPLICANTS TOGETHER WITH APPLICATION FORMS ARE OBTAINABLE FREE OF CHARGE FROM THE OFFICE OF THE COMMISSIONER FOR COMMODITIES TRADING AT ROOM 2404, CONNAUGHT CENTRE, CONNAUGHT ROAD, CENTRAL, HONG KONG.
APPLICANTS ARE REQUESTED TO SEND IN THEIR COMPLETED FORMS
AS SOON AS POSSIBLE TO ALLOW SUFFICIENT TIME FOR THE OFFICE OF THE COMMISSIONER FOR COMMODITIES TRADING TO PROCESS THE APPLICATIONS.
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