1974-HKRS28-16-22_Part01 — Page 42

Chairman and deputy chairman of the Council.

Deputies of members.

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it may declare his office as a member of the Council to be vacant.

(10) The powers of the Council shall not be affected by any vacancy in its membership, or any irregularity in the appointment of any member of the Council.

(1) If any stock exchange for any reason ceases to be a member of the Federation, the membership of the Council of any person appointed by the committee of that exchange shall thereupon cease.

(12) If any stock exchange fails to appoint members of the Council as required by this section, the Commission may, after giving the exchange 14 days' notice in writing of its intention to do so, appoint persons to fill the vacancies.

33. (1) The Council shall, at its first meeting and in each year thereafter at the first meeting after the anniversary of the date on which it was constituted, elect one of its members to be chairman of the Council, and the person so elected shall hold office during its pleasure until the election of another chairman.

(2) When a member of the Council ceases to hold office as chairman of the Council, neither he, nor any other member of the Council who is a member of the stock exchange of which he is a member, shall be eligible for election as chairman of the Council until the expiry of at least 4 years from the date on which the first-mentioned member of the Council was elected to be the chairman.

(3) If the office of chairman is vacant for more than one month, the Commission may appoint such person as it thinks fit (including a person who is not a member of the Council) to be chairman for a period not exceeding 12 months,

(4) The Council may, at its first meeting and in each year thereafter after the anniversary of the date on which it was con- stituted, elect any other of its members to be deputy chairman, and the person so elected shall hold office as such during its pleasure until the election of another deputy chairman.

(5) If the office of chairman is vacant, or the chairman is absent from any meeting of the Council or is incapacitated by illness or other cause from performing the duties of his office, the deputy chairman shall have and may exercise all the functions and powers of the chairman.

34. (1) If any member does not attend a meeting of the Council, the committee of the stock exchange which appointed

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him may appoint one of the other members of the exchange to attend the meeting as his deputy.

(2) While a person is attending any meeting as a deputy under this section, he shall be deemed for all purposes to be a Diember of the Council.

(3) No appointment of deputy and no act done by him as such, and no act done by the Council while any deputy is acting as such, shall in any proceedings be questioned on the ground that the occasion for his appointment has not arisen or bad ceased.

35. (1) Meetings of the Council shall be held not less often Meetings of than once in every month at such times and places as the Council the Council, or its chairman may appoint.

(2) At all meetings of the Council 4 members shall form a quorum

(3) At any meeting of the Council the chairman shall have a deliberative vote, and, in the case of an equality of voles, shall also have a casting vote.

(4) All questions before the Council shall be decided by a majority of the members present and voting thereon.

(5) A decision taken at a meeting of the Council shall be binding on each of the members of the Federation, whether the representatives of the member were present at the meeting or

Dot.

(6) Subject to subsections (I) to (5) the procedure at meetings of the Council shall be determined by the Council.

of the

36. The Federation shall have the following functions Functions (4) to communicate the views of its members to the Com- Federation,

mission, and to communicate the decisions of the Com- mission to its members;

(b) to encourage or provide facilities for the training of

persons desirous of becoming stockbrokers;

(c) to provide or promote facilities for the obtaining by stockbrokers, and persons desirous of becoming stock- brokers, of professional qualifications by means of examinations;

(d) to provide means for the amicable settlement of dis-

pules between-

(i) members of the Federation;