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SUNDAY, OCTOBER 20, 1985
NO CORPORATION MAY BE REGISTERED AS A DEALER UNLESS IT IS A REGISTERED COMPANY OR AN OVERSEAS COMPANY TO WHICH PART XI OF THE COMPANIES ORDINANCE (CHAPTER 32) APPLIES AND WHICH HAS COMPLIED WITH THE PROVISIONS OF THAT PART RELATING TO THE REGISTRATION OF DOCUMENTS.
ALL ITS DIRECTORS PARTICIPATING IN THE ACTIVITIES OF SECURITIES DEALING MUST BE REGISTERED AS DEALERS AND ARE
PERMITTED TO CARRY ON SUCH BUSINESS ONLY ON BEHALF OF THE CORPORATION IN RESPECT OF WHICH HE IS REGISTERED. ON THE COMMENCEMENT OF OPERATION OF THE UNIFIED EXCHANGE, IT MUST COMPLY WITH THE FINANCIAL REQUIREMENTS.
A PARTNERSHIP WHICH CARRIES ON A BUSINESS OF DEALING IN SECURITIES MUST REGISTER AS A DEALING PARTNERSHIP. EVERY PARTNER IN A PARTNERSHIP WITHIN THE MEANING OF THE PARTNERSHIP ORDINANCE (CHAPTER 38), AND EVERY GENERAL PARTNER IN A LIMITED PARTNERSHIP FORMED UNDER THE LIMITED PARTNERSHIP ORDINANCE (CHAPTER 37) IS REQUIRED TO BE A REGISTERED DEALER AND CAN ONLY DEAL IN SECURITIES ON BEHALF OF THE PARTNERSHIP.
LIMITED PARTNERS ARE NOT REQUIRED TO REGISTER AS DEALERS THOUGH DETAILS OF THE PARTNERSHIP ARRANGEMENTS ARE REQUIRED TO BE DISCLOSED IN THE APPLICATION FOR REGISTRATION. THE
DEALING PARTNERSHIP MUST ALSO COMPLY WITH THE FINANCIAL REQUIREMENTS.
THE ORDINANCE ALSO REQUIRES BUSINESS ENTITIES CARRYING ON A BUSINESS OF GIVING INVESTMENT ADVICE IN PARTNERSHIP TO REGISTER AS INVESTMENT ADVISERS' PARTNERSHIPS.
BOARD TO STUDY BUILDING PROBLEMS
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A MONTH-LONG SURVEY WILL START TOMORROW (MONDAY) TO STUDY ENVIRONMENTAL AND MANAGEMENT PROBLEMS IN PRIVATE MULTI-STOREY BUILDINGS IN SHAM SHUI PO.
ABOUT 80 TRAINED INTERVIEWERS, MAINLY VOLUNTEERS FROM LOCAL POST-SECONDARY INSTITUTIONS, WILL CARRY OUT DOOR-TO-DOOR VISITS AND INTERVIEW REPRESENTATIVES OF MANAGEMENT OFFICES, RESIDENTS' ASSOCIATIONS, OWNERS' INCORPORATIONS AND MUTUAL AID COMMITTEES.
THE SURVEY WAS COMMISSIONED BY THE SHAM SHUI PO DISTRICT BOARD AND CARRIED OUT JOINTLY WITH THE HONG KONG HOUSING AFFAIRS ASSOCIATION.
CHAIRMAN OF THE SURVEY WORKING GROUP, MR RAYMOND CHOY, SAID THE EXERCISE AIMS AT IDENTIFYING ACCURATELY, THE MAGNITUDE, HISTORY, CAUSES AND IMPACT OF EXISTING PROBLEMS, AS WELL AS GATHERING RESIDENTS' VIEWS AND ANALYSING THE PREVALENT ATTITUDES ON THE SUBJECT.
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