Edeal of
revocaulon or
of registration.
Appeal to
the Disciplinary
Committee
apalost
peful o
mulla Borka.
RIG.
20
(5) For the purposes of this section "misconduct" means—- (a) any failure to comply with the requirements of this Ordinance or of any regulations made under this Ordinance with respect to dealers, commodity trading advisers, dealers' representatives or commodity trading advisers representatives, as the case may bet (b) any failure to observe the terms and conditions of a certificate of
registration;
(c) any act or omission relating to the conduct of business of a dealer, commodity trading adviser, dealer's representative of com- modity trading adviser's representative, as the case may be, which is or is likely to be prejudicial to the public interest.
37. (1) A person whose registration is revoked under section 35 or revoked or suspended under section 36 shall, for the purposes of section 25, 27, 28 of 29, as the case may be, be deemed not to be registered.
(2) A revocation or suspension of the registration of a person does cor operate so na lo...m
(a) avoid or affect any agreement, transaction or arrangement relating to the trading in commodity futures contracts entered into by such person, whether the agreement, transaction or arrangement was Entered into before or after the revocation or suspension of the registration; or
(b) affect any right, obligation or liability arising under any such
agreement, transaction or arrangement
(3) A person whose registration is revoked under section 35 (other than paragraph (@)(iii) or (iv), paragraph (b)(0) s¢ (v) or paragraph (cMin or (v) of subsection (2) of that section) or 36 may not apply to be registered under this Pact, whether as a dealer, commodity trading adviser, denier's representative or commodity trading adviser's representative, until the ex- piration of at least 12 months from the date of revocation.
38. (1) Where--
(a) the Commissioner refuses to register an applicant under section 31
or 32:
(b) a deposit is transferred or forfeited by the Commissioner under
section 33:
(e) the Commissioner refuses to renew the registration of a registered
person under section 34;
(d) a certificate of registration is issued by the Commissioner under
section 30(2) or 34(4) subject to conditions;
()the registration of a registered person is revoked by the Commis-
stoner under section 35; or
( the registration of a registered person is revoked or suspended, or a registered person is reprimanded, by the Commissioner under section 36,
any person who is aggrieved by the decision of the Commissioner may, within 1 month after he is notified of the decision, appeal to the Disciplinary Committee in accordance with any rules made under section 74.
(2) After considering any representations submitted and evidence produced by or on behalf of the appellant and the Commissioner, the Disciplinary Commilice may confirm, reverse or vary the decision of the Commissioner which is the subject matter of the appeal.
21
Iroom decltlong
39. (1) An appeal shall lie to the High Court against any decision Appeal to of the Disciplinary Committee in an appeal ünder section 38 by any person the coun who is aggrieved by the decision of the Disciplinary Committee; and the of the High Court may confirm, reverse or vary the decision of the Disciplinary Diclodnary Committee and give such other directions as it thinks just and equitable. Committed.
(2) The decision of the High Court on an appeal under subsec tion (1) shall be final.
bind
40. (1) Any person who for the purpose of obtaining registration or File renewal of registration under this Part, whether for himself or for any representados other person, makes any representation, whether in writing, orally of otherwise, which he knows to be false or misleading as to a material particular shall be guilty of an offence, and shall be liable on conviction upon indictment to a fine of $20,000 and to imprisonment for 2 years.
(2) For the purposes of subsection (1), "representation" means a representation or statement-
(a) of a matter of fact, either present or past: (b) about a future event; or
(c) about an existing intention, opinion, belief, knowledge or other
state of mind,
(0) Proceedings in respect of an offence under this section may be brought at any time within 6 months of the discovery of the offence.
4. (1) Every dealer, commodity trading adviser, dealer's representa- Informallad tive and commodity trading adviser's representative shall forthwith notify be the Commissioner in the prescribed form of sny change which, while his provided by certificate of registration is in force, may occur~
(a) in the address in Hong Kong at which he carries on the business as a dealer, commodity trading adviser, dealer's representative or commodity trading adviser's representative;
(8) in the business name or the name of the corporation or firm: or (c) in any information supplied in or in connexion with his applica.
tion for registration or renewal of registration,
as the case may be
(2) Every dealer, commodity trading adviser, dealer's representative and commodity trading adviser's representative shall forthwith, on ceasing to carry on business in Hong Kong as a dealer, commodity trading adviser, dealer's representative or commodity trading adviser's representative, as the case may be, notify the Commissioner in the prescribed form of that fact
(3) If, at any time while a corporation or firm is registered as a dealer or commodity trading adviser, any director, partner or employee of tho corporation or firm becomes or ceases to be accredited to the corporation or firm, as the case may by, the corporation or firm shall within 7 days after that event notify the Commissioner in the prescribed form of the name and address of that director, partner or employee and such other particulars as may be specified in the form.
(4) If a dealer's representative or commodity trading adviser's repre- sentative becomes or ceases to be the representative of the dealer or commodity trading adviser in respect of whom he was registered, that representative and the dealer or commodity trading adviser, as the casa may be, shall within 7 days after that event notify the Commissioner in the prescribed form of the fact
registered
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