(00 130
Apuseni men inst withdrawal of rocution.
Chebeim Hoax 1
Commissioner Sky" poden escurbe.
Extension of time,
Repulsion
15
(3) Any withdrawal of recognition by the Commission under this pection shall take effect immediately, notwithstanding that an appeal has been made or may be made under section 37.
(4) Nothing in this section shall derogate from any power given to the Commission or to the Commissioner under the Securities Ordinance in respect of the closure of the Unified Exchange.
37. (1) Where the Commission withdraws its recognition under sec- tion 36, the Exchange Company may, within 14 days after the publication in the Gazette of the notice of withdrawal, appeal to the Gevemor in Council against the withdrawal.
(2) After considering any appeal under subsection (1), the Governor in Council may confirm, reverse or vary the decision of the Commission; and the decision of the Governor in Council shall be final.
38. (1) The Commission may establish standing or special com- mittees for the purposes of his Ordinance.
(2) The Commission may delegate any of its powers, functions and Julies (other than the powers conferred by this section) lo—
(o) any committee established under subsection (1) or
(6) the Commissioner.
(0) The Commission may appoint as a member of any committee established under subsection (1) any person who, in its opinion, appear! to be qualified to be a member of the committee, whether that person is a member of the Commission or not.
(4) A delegation under subsection (2) and an appointment under subsection (3) may be revoked by the Commission at any time, and no such delegation shall prevent the exercise or performance of any power, function or duty by the Commission.
(5) A committee established under subsection (1) may elect any of its members to be chairman and may, subject to any direction of the Commission, regulate ita procedure in such manner as it thinks fit.
(6) Where any committee established under subsection (1) purports to act pursuant to any delegation made under subsection (2), it shall be presumed, until the contrary is proved, to be acting in accordance with the terms of the delegation.
39. Without prejudice to the provisions of any other enactment relating to the prosecution of criminal offences, and without prejudice to the powers of the Attorney General in relation to the prosecution of such offences, the Commissioner may institute proceedings in respect of any offence against this Ordinance,
40. (1) The Governor in Council may by order extend the perfod prescribed under section 17(1), 18(1) ar 27(2)
(2) The Financial Secretary may, on the advice of the Commission and either generally or in a particular case, extend the time prescribed or allowed for the doing of any set or thing under section 9, 19(1) or (3), 2001). 23(1), 24(00), 26(2), 28(2), 90 or 35(3).
41. (1) The Governor in Council may, after consultation with the Commission, make regulations for the better carrying out of the purposes and provisions of this Ordinance.
(2) Regulations made under this section may provide that a con- travention of any provision thereof shall be an offence, and may provide penalties therefor not exceeding a fine of $20,000 and imprisonment for 3 months
17
of uestion!
42. (1) Section 20 of the Securities Ordinance shall not apply to any Application act done pursuant to this Ordinance in furtherance of the establishment of 50 and 21 of the Unified Exchange.
the decarities Onfinance.
(2) Nothing in section 21 of the Securities Ordinance shall prevent (Op. 331) the taking or use, or the attaching to or exhibition at any place of the title "stock exchange" or "exchange" or "Unified Exchange, or any title resembling any of such titles, for the purposes of any provision of this Ordinance in force.
43. (1) This section shall come into operation on the appointed day. Consequential
edmety
provision. (Cap. 193 Flest Schedule.
(2) The sections of the Securities Ordinance specified in the first and transicional column of the First Schedule are amended to the extent and in the manner set out in the second column of that Schedule.
(3) The provisions of the Secood Schedule shall, notwithstanding any Second amendment effected by subsection (2), have effect with respect to the Schedule. matters contained in that Schedule,
(4) Unless the context otherwise requires, a reference in any Ordin- ance to a recognized stock exchange or to a stock exchange approved or deemed to have been approved under the Securities Ordinance, shall be construed as a reference to the Unified Exchange.
FIRST SCHEDULE
AMENDMENTs to the SecURITIBA ORDINANCE
B. 43(20).]
(Cap. 313.)
Section
Amendment
Long title
1.
By deleting "and a federation of stock exchanger'.
2.
By deseling "exchanger" and substituting "markets".
200
1.
By deleting the definition of "committer" and substitut- ing the following-
(55 of 19600)
'"committee", in relation to the Exchange Com- pany, means the Committee of the Exchange Company elected under section 9 of the Stock Exchanges Unification Ordinance 1980, and any succeeding commilles, by whatever name called, for the management and control of the Exchange Company:".
2. In the definition of "corporale member', by deleting “a stock exchange" and substituting "the Exchange Company”, 3. By deleting the definition of "Council"".
4.
By inserting, after the definition of "document", the following
(55 of 1980.)
5.
"Exchange Company" means the company recognized as the Exchange Company under section 3 of the Stock Exchanges Unification Ordinance 1980:**
By deleting the definition of “Federation".
6. In the definition of "individual member", by deleting stock oxchange" and substituting "the Exchange CompanyTM,
7. In the definition of "listing", by deleting "s stock exchange" and substituting "the Unified Exchange",
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