1974-HKRS28-16-22_Part01 — Page 48

(Cap. 136.)

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(iv) it appears to the Commissioner that, by reason of the applicant, or any person employed by or associated with the applicant for the purposes of his business, having been convicted, whether in Hong Kong or elsewhere, of an offence his conviction for which necessarily involved a finding that he acted fraudulently or dishonestly, or having been convicted of an offence against this Ordinance, or having committed a breach of any regulations made under this Ordinance relating to dealers, investment advisers, or representatives, the applicant is not a fit and proper person to be registered under this Part;

(v) it appears to the Commissioner that, by reason of any other circumstances whatsoever which either are likely to lead to improper conduct of business by, or reffect discredit on the method of conducting business of the applicant or any person employed by or associated with him, the applicant is not a fit and proper person to be registered under this Part; or

(vi) the applicant is under 21 years of age; or (b) in the case of an applicant that is a corporation, on the

grounds that

(i) the applicant has not provided the Commissioner with such information relating to it or any person employed by or associated with it, and to any circum- stances likely to affect its method of conducting business as may be prescribed by or under this Ordinance:

(ii) any director of the applicant is detained under the Mental Health Ordinance in a mental hospital or is a patient as defined in section 2 of that Ordinance; (i) any director of the applicant is an undischarged bankrupt;

(iv) it appears to the Commissioner that, by reason of the applicant, or any director or secretary of the applicant or any officer concerned in the management of the applicant's business or any employee of the applicant, having been convicted, whether in Hong Kong or elsewhere, of an offence its or his conviction for which necessarily involved a finding that it or he acted fraudulently or dishonestly, or having been convicted of an offence against this Ordinance, or having com- mitted a breach of any regulations made under this Ordinance relating to dealers, investment advisers, or

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representatives, the applicant is not a fit and proper person to be registered under this Part; or

(v) it appears to the Commissioner that, by reason of any other circumstances whatsoever which either are likely to lead to improper conduct of business by, or reffect discredit on the method of conducting business of, the applicant or any director or secretary of the applicant, or any officer concerned in the management of the applicant's business, or any employee of the applicant, the applicant is not a fit and proper person to be registered under this Part.

(2) The Commissioner shall not refuse an application for registration without first giving the applicant an opportunity of being heard.

(3) Where the Commissioner refuses an application for regis- tration, he shall notify the applicant in writing of that fact and sball include in the notice a statement of the reasons for the refusal.

+

54. (1) An application for renewal of registration under this Renewal of registration, Part shall-

(a) be made to the Commissioner in the manner prescribed

by regulations;

(b) be accompanied by the fee prescribed by regulations;

and

(c) be made not later than one month before the day on which the certificate of registration, if not renewed, would expire.

(2) The Commissioner may require an applicant under this section to supply him with any further information that he considers necessary to deal with the application.

(3) The Commissioner may not refuse an application under this section except-

(a) on a ground that would entitle him to revoke the regis- tration of a person under section 55 or section 56; or

(b) by reason of the failure of the applicant to comply with subsection (1) or with any requirement of the Commis- sioner under subsection (2).

(4) An application under this section may be granted subject to such reasonable conditions as the Commissioner thinks oeces-

sary.