1980-HKRS28-16-28_Part04 — Page 17

(Cap. 333.)

(Cap. 38.1

(Cap. 373

(Cmp. 333.)

"associate member" means—

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(a) in relation to the Exchange Company, a shareholder of the Exchange Company defined as an associate member by the articles of association; and

(b) in relation to an existing exchange, a member of an existing exchange expressed or deemed by or under the constitution of the existing exchange to be an associate or overseas member (by whatever name called);

"Commission” means the Securities Commission established under Fart II

of the Securities Ordinance;

"Commissioner" means the Commissioner for Securities appointed under

section 6 of the Securities Ordinance;

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"Committee” means the Committee elected under section 9 and any succeeding committee, by whatever name called, for the management and control of the Exchange Company;

"constitution", in relation to the Exchange Company or an existing exchange means the memorandum and "articles of association of the Exchange Company or existing exchango, as the case may bet

"corporation" means any company or other body corporate formed or

incorporated either in Hong Kong or elsewhere;

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"Council" means the Council of the Hong Kong Federation of Stock Exchanges, established under section 32 of the Securities Ordinance;

"Court" means the High Court;

"dealer" has the same meaning as in section 2 of the Securities Ordinance;

*dealing in securities" has the same meaning as in section 2 of the Securities

Ordinance;

"document" has the same meaning as in section 2 of the Securities

Ordinance;

"Exchange Company" means the company recognized as the Exchange

Company under section 3;

"existing exchanges" means the Far East Exchange Limited, the Hong Kong Stock Exchange Limited, the Kam Ngan Stock Exchange Limited and the Kowloon Stock Exchange Limited, and “existing exchange" means any one of them;

"firm" means an unincorporate body of 2 or more persons-

(a) who have entered into partnership with one another within the

meaning of section 3 of the Partnership Ordinance; or

(b) who have formed a limited partnership under the Limited Partner- ships Ordinance and registered it as such under that Ordinance. and a reference to a partnership shall be construed as a reference to such a partnership or limited partnership:

"Hong Kong Federation of Stock Exchanges" means the Hong Kong Federation of Stock Exchanges established under section 31 of the Securities Ordinance;

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"investment adviser" has the same meaning as in section 2 of the Securities

Ordinance;

"listing" has the same meaning as in section 2 of the Securities Ordinance;

"member" means—

(a) in relation to the Exchange Company, a shareholder of the

Exchange Company other than an associate member; and

(b) in relation to an existing exchange, a member of the existing

exchange other than an associate member:

*memorandum" means the memorandum of association of the Exchange

Company;

"securities" has the same meaning as in section 2 of the Securities Ordin-

ance,

"stock market" has the same meaning as in section 2 of the Securitics

Ordinance;

"transitional committee" means the transitional committee of the Exchange

Compacy established under section 5;

"Unified Exchange" means the stock market established, operated and

maintained under section 27.

(2) For the purposes of any provision of this Ordinance relating to membership or associate membership of the Exchange Company or an existing exchange, cach-

(4) share in the Exchange Company; and

(b) seat on an existing exchange,

shall be deemed to constitute a separate membership or associate member- ship of the Exchange Company or existing exchange, as the case may be.

PART II

THE EXCHANGE COMPANY

3 0) Subject to this section, the Commission may, by certificate in Reonition of writing under its seal, recognize as the Exchange Company for the purposes par of this Ordinance a company formed and registered under the Companies Compen Ordinance.

(2) The Commission shall not recognize a company pursuant to sub- section (1) unless it is satisfied that the company complies with the requirements of subsection (3).

(3) The requirements referred to in subsection (2) are that—

(a) the objects contained in the company's memorandum of associa

tion Include-

(i) the establishment and operation of a stock market; and

The Excha