1976-HKRS28-16-24_Part04 — Page 4

Denonrisabener

to krep Tedalde of registered DATORS

Publication

nama of

dealers, eld.

Interpretation.

22

(5) Any person who without reasonable excuse contravenes this section shall be guilty of an offence and shall be liable on conviction to a time of $2.000.

42. (1) The Commissioner shall establish and maintain at his office- (a) a register of dealers in which shall be entered the name of every dealer and such other particulars as may be prescribed by regula- tions in relation to dealera;

(6) a register of commodity trading advisers in which shall be entered the heme of every commodity trading adviser and such other particulars as may be prescribed by regulation, in relation to commodity trading advisers;

(c) a register of dealers' representatives in which shall be entered the name of every dealer's representative and such other particulars as may be prescribed by regulations in relation to dealers' repre- sentatives; and

(4) a register of commodity trading advisers' representatives in which shall be entered the name of every commodity trading adviser's representative and such other particulars as may be prescribed by regulations in relation to commodity trading advisers' representa- tives.

(2) The registers kept under this section and all applications made by registered persons for registration or renewal of registration shall, during sucb hours as may be prescribed and on payment of any prescribed fee, be open to inspection by members of the public.

(3) A copy of any extract of or entry in any register kept under this section. purporting to be certified by the Commissioner, shall be admissible as evidence in any legal proceedings, whether under this Ordinance or otherwise.

43. () The Commissioner shall cause to be published in the Gazerie, in such manner as he thinks fit, the games and addresses of all registered

persons.

(2) The information required to be published under subsection (1) sball be published at least once in each year.

(3) If the Commissioner at any time amenda any registor kept by him under this Part by adding or removing the name of any person, he sball cause particulars of the amendment to be published in the Gazette within one month after making the amendment.

PART V

ACCOUNTS AND AUDIT

44. In this Part, unless the context otherwise requires

"clicar" means a person on whose account a dealer carries on any trading

in commodity futures contracts as an agent;

"dealer" does not include a director, partner or employer of a corporation or firm, as the case may be, who is accredited to the corporation or firm as a deler.

45. (1) A dealer shall

Accquow to be kept by

(a) cause to be kept such accounting and other records as will suffi- dealent.

ciently explain the transactions, and reflect the financial position, of the business of bading in commodity futures contracts carried on by him, and will enable true and fair profit and loss ACCOUNTE and balance sheets to be prepared from time to time; and

(b) cause those records to be kept in such a manner as will enable

them to be conveniently and properly audited.

(2) The records referred to in subsection (1) shall be kept-

(4) in writing in the English language; or

(6) in such a manner as to enable them to be readily accessible and readily converted into written form in the English language.

(3) Without prejudice to the generality of subsection (1), a dealer shall cause records to be kept-

(a) in sufficient detail to show particulars of--

(1) all amounts received and paid by the dealer, including amounts paid to and disbursed from a segregated account;

(ii) all purchases and sales of futures contracts made by the dealer, and the charges and credits arising from them; and

(5) in sufficient detail to show separately particulars of all transac-

tions by the dealer with, or for the account of-

(i) the clients of the dealer; and

(i))) the dealer himself.

(4) A dealer shall retain-

(a) for a period of not less than 7 years, the records kept in accord-

ance with this section; and

(b) for a period of not less than 2 years--

() a copy of each futures contract made out by bima as agent of a client, and

(i) each futures contract received by him or made out to himself as principal

(5) Records required to be kept by a dealer by this section may be kept either by making entries in a bound book or by recording or storing the relevant matters in any other manner, and anything so entered, recorded or stored shall be deemed to have been affected by, or with the authority of, the dealer.

(6) Where a record required to be kept by this section is not kept by making entries in a bound book but by some other means, the dealer shall take reasonable precautions for guarding against falsification and for facilitating discovery of say falsification.

(7) Notwithstanding any other provision of this section, a dealer shall not be deemed to have failed to keep a record in accordance with this section by reason only that the record is kept as a part of, or in cam junction with, the records relating to any business, other than the business of trading in commodity futures contracts, that is carried on by him.

(8) Any dealer who, wihout reasonable excuse, contravenes this section shall be guilty of an offence and shall be liable on conviction upon indictment to a Ene of $10,000 and to imprisonment for 6 months.