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(2) a corporation or firm that is a dealer is ordered to be wound up or dissolved by or under the supervision of a court, the Commnis- sioner shall transfer the deposit paid by or in respect of much corporation or firm under section 31 to the liquidator of the cor- poration or firm; or
(c) the Commissioner has reason to believe that any person has sustained pecuniary loss because of a default commilled in the course of or in connexion with the commodity futures trading business of a dealer, by the dealer or any director, partner or employee, as the case may be, accredited to the dealer, the Coo- missioner may forfeit all or any part of the deposit paid by or in respect of the dealer under section 31.
(2) Where a deposit is transferred to a trustee in bankruptcy under subsection (Ke), or "liquidator under subsection (IM8), such deposit shall be applied by the trustee or liquidator, as the case may be, in accordance with regulations made under this Ordinance for the purposes of this sub- section.
(3) In the event of a deposit or any part of a deposit being forfeited under subsection (IXC), the deposit or part thereof so forfeiled shall be applied by the Commisalaner in accordance with regulations made under this Ordinance for the purposes of this subsection.
(4) Where any deposit is transferred or forfeited under subsection (1) the Commissioner shall notify in writing the person who paid the deposit of such transfer or forfeiture.
(5) Except as provided in this section or under regulations made under this Ordinance, no person may withdraw or transfor any deposit paid under section 31.
(6) The Commissioner shall open one or more accounts at a licensed bank into which he shall pay all deposits paid under section 31, and shal) then ascertain what proportion of such deposits ought, in his opinion, to be retained in the account or accounts to enable liábilities ünder dub- section (1), or such other liabilities as may be prescribed by regulations, 10 be satisfied.
(7) After ascertaining the amount of a deposit required to be retained under subsection (6), the Commissioner shall cause the balance of the deposit to be invested in such manner as the Financial Secretary may direct.
(8) Where the Flasocial Secretary bas given a direction under sub- section (7), be shall, as soon as practicable after the end of each financial year, by notice in the Gazette--
{x}) declare a rate of interest to be paid for that Boancial year in
respect of each deposit paid under section 31;
(b) specify the manner and time of payment of that interest; and (c) specify an amount to be charged for management expenses ja- curred by the Commissioner in administering the deposit under this Ordinance
(9) A■ soon as practicable after the publication of a notice under subsection (8), the Commissioner shall, after deducting an appropriate amount chargeable in respect of management expenses, pay to each person who has paid the deposit under section 31, or to that person's duly authorized agent or personal representative, the appropriate amount of interest due in respect of that deposit for the financial year in question.
(10) A document evidencing the investment of money under sub- section (7) may be kept in the office of the Commissioner or deposited for safe keeping with a licensed bank.
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(1) If any person who has paid a deposit under section 31, or io caspect of whom such deposit was paid, ceases to be registered as a dealer and the deposit has not been or is not required to be disposed of under subsection (1), the person who paid the deposit, or bis duly authorized agent or personal representative, may apply to the Commissioner for the deposit to be released to him.
(12) Oo making an application under subsection (11), the applicant
hall-
(d)
satisfy the Commissioner by a statutory declaration-
(i) that he knows of no other person who has made or is catitled to make a claim în respect of the deposit;
(ii) if he is not the person who paid the deposit, that he is entitled to give a good discharge for the deposit and state the circumstances in which he is so cutitled; and
(6) provide the Commissioner with much information as will satisfy him that an advertisement in a form approved by him has been published once in an English language newspaper, and once in a Chinese language ocwspaper, circulating in Hong Kong.
(13) The Commissioner, on being so satisfied, shall cause the deposit to be released to the applicant.
(14) Subsection (1) shall not apply where the bankruptcy, winding up or dissolution, or default, as the case may be, occurs prior to the com- mencement of this section.
(15) The Commissioner shall keep proper accounts of all sums deposited under section 31, and shall in respect of the financial year beginning before and ending after the day on which this section commences, and In respect of each subsequent financial year, prepare a revenue and ex- penditure account, and a balance sheet made up to the last day of that
year.
(16) The Commissioner shall appoint an auditor who shall annually audit the accounts kept under subsection (15) and shall audit and prepare an auditor's report in respect of each balance sheet and revenue and ex- penditure account prepared under subsection (15) and shall submit the report to the Commissioner.
(17) Not later than 4 months after the end of each financial year the Commissioner shall cause a copy of the audited balance sheet, revenue and expenditure account, and the auditor's report to be sent to the Financial Secretary.
34 (1) Subject to subsection (3). The Commissioner shall on applica- Renewal of tion made to him by a registered person in the prescribed manner not later ado, than 1 month before the day on which his registration, it not renewed, would expire and on payment of the prescribed fee, renew the registration of that person.
(3) The Commissioner may require an applicant under subsection (1) to supply him with any further information that be considers accessary to deal with the application.
(3) The Commissioner may refuse to renew the registration of a registered person under subsection (1)—–
(4) on any ground on which the Commissioner may refuse to register
under section 32;
(b) on any ground on which the Commissioner may revoke the
registration of such person under section 35 or 36; or
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