1976-HKRS28-16-24_Part04 — Page 28

Amendment of section 121.

Amcatment of Bedon 124.

Ancodator of section 127.

Ametllment of Section 130,

Aocodacht of pection 146,

Aonsent of

First And

Second Schedal

10

member in relation to any money, securities or other property an- trusted to or received by the stockbroker, member firm or corporate member or any person employed by the stockbroker, member firm or corporate member, that person shall be entitled, subject to this part, to claim compensation from the compensation fund in respect of any pecuniary loss suffered by him,“

30. Section 123(1) of the principal Ordinance is amended by- (a) deleting or sold" in both places where it occure and substituting

the following-

sold or otherwise disposed of; and

(b) deleting "or sale" in both places where it occurs and substituting

the following-

+

sale or other disposition".

31. Section 124 of the principal Ordinance is amended by deleting "guilty of fraud” and subslílýting the following-

"guilty of a breach of trust, defalcation, fraud, or misfeasance".

32. Section 127 of the principal Ordinance is amended by deleting subsection (1) and substituting the following

"(1) Where it appears to the Commission that it is desirable for the protection of the public or of the holders of securities to appoint an inspector to investigate-

(a) any alleged breach of trust, defalcation, fraud, or misfeas-

ance) or

(b) any matter concerning dealing in securities or the giving of

investment advice,

the Commission may, by instrument in writing, appoint a person aS an inspector to investigate the allegation or matter and to report on it in such manger as the Commission directs.”.

33. Section 13008) of the principal Ordinance is amended by deleting "fraud, misfeasance, or other misconduct" and substituting the following-

"a breach of trust, defalcation, fraud, or misfeasance".

34 Section 146(1) of the principal Ordinance is amended by- (a) deleting paragraph (m) and substituting the following-

"(m) prescribing the particulars to be recorded in relation to the profit and loss account and balance sheet and the information to be contained in the auditor's report re- quired to be lodged under section 88;"; and

(b) deleting paragraph (4).

35. The First Schedule and the Second Schedule to the principal Ordinance are amended, respectively, in paragraph 1 thereof-

(0) by deleting sub-paragraph (6) and substituting the following—

"(5) specify the last recorded price paid in respect of the securities at a stock exchange where they are listed, or,

in the case of a foreign stock exchange, listed or quoted, on the latest practicable date during the period of 1 months immediately preceding the date of the offer;"; and

1976.

11

(b) io sub-paragraph (c) by deleting "before the public announce ment, or, if the securities wore not dealt in on that day, on the last trading day on which they were dealt in" and substituting the following-

"doring the period of 3 months immediately preceding the public announcement, or, if the securities were not dealt in during that period, this should be stated”.

Passed by the Hong Kong Legislative Council this 4th day of August,

A

Clerk to the Legislative Cornell,

This printed impression has been carefully compared by me with the bill, and is found by me to be a true and correctly printed copy of the said bill.

कि

Clerk to the Legislative Council,