1980-HKRS28-16-28_Part04 — Page 30

Section

141A

142(4)

First

Schedule-

28

Amendment

By deleting subsection (1) and substituting the following--

"(1) This Part applies to the securities of a corpora- tion only if they are listed on the Unified Exchange or have been listed on the United Exchange or on an approved stock exchange at any time within 5 years immediately preceding any dealing in relation to those securities within the meaning of section 1418(1),

(1A) For the purposes of subsection (1), "approved stock exchange" means a company which was, immediately before the repeal of section 25, approved or deemed to have been approved as a stock exchange under that section.".

By deleting "stock exchange outside Hong Kong" and sub- stituting "foreign stock exchange”.

paragraph 1 1. By deleting "a stock exchange (including a foreign stock

exchauge)" and substituting the Unified "Exchange or foreign stock exchange".

a

2. In sub-paragraph (5), by deleting at a stock exchange where they are listed" and substituting "on the Unified Exchange".

paragraph 2 By deleting "a stock exchange (including a foreign stock exchange)" and substituting the Unified Exchange or a foreign stock exchange",

Second Schedule-

paragraph 1 1. By deleting "a stock exchange (including a foreign stock exchange)" and substituting "the Unifled Exchange or a foreign stock exchange".

2. In sub-paragmph (8), by deleting at a stock exchange where they are listed" and substituting 'on the Unified Exchange".

paragraph 3 by deleting a stock exchange (including a foreign stock exchange)" and substituting "the Unified Exchange or Я foreign stock exchange".

paragraph 5(d)

paragraph

Securities

(Stock

Exchanges

Compensa tion Fund) (Maximum Payments) Notice 1980. (L.N.

101/80.)

By deleting "a stock exchange" and substituting "the Unified Exchange or a foreign stock” exchange”.

1. By deleting “a stock exchange (including a foreign stock. exchange)" and substituting "the Unified Exchange or a foreign stock exchange".

น By deleting the stock exchange" and substituting "the exchange".

By cancelling the Notice.

29

SECOND SCHEDULE

TRANSITIONAL ARRANGEMENTS

1. For the purposes of this Schedule-

[6. 4300).]

(a) any lerth or expression not defined in this Ordinance shall have the same meaning as it had, immediately prior to the appointed day, in the Securities Ordinance; and

(b) a reference to any provision in the Securities Ordinance shall be a reference to that provision in force immediately prior to the appointed day,

2. (1) All property of whatever kind and whether movable or immovable vested in or belonging to the Hong Kong Federation of Stock Exchanges immediately prior to the appointed day is as from such date transferred to and vested in the same intcrest in the Exchange Company without any further assurance; and the Exchange Company shall have all powers necessary to take possession of, recover and obtain the benefit of such property.

(2) Subject to paragraph 4, all obligations and liabilities of the Federation immediately prior to the appointed day are from such date the obligations and liabilities of the Exchange Company; and the Exchange Company may be sued in respect of and shall have all necessary powers to discharge the same.

Сад 131.7

3. The Securities Commission Disciplinary Committee as constituted immediately prior to the appointed day shall continue in existence for tha purposes of completing any inquiry under section 39 of the Securities (Cap. 133.) Ordinance, or hearing any appeal under section 38 of that Ordinance, commenced prior to that date but not at that date completed or disposed of, and for the purposes of this paragraph-

(a) any such inquiry or appeal may be continued and completed or

disposed of; and

(b) any order or decision of the Disciplinary Committee so con- stiluted may be made or given and shall have the same force and effect,

14 if section 43 of this Ordinance had not been enacted.

4. (1) The provisions of Part X of the Securities Ordinance in force (Cap. 333) immediately prior to the appointed day, other than sections 112 and 121 shall, subject to this paragraph, continue to apply for the purposes of this paragraph as if references therein to the Federation and to the Council of the Federation were references, în either case, to the Commissioner, and in particular and without prejudice to the generality of the foregoing- (a) the Stock Exchanges Compensation Fund established and main- tained under section 99 of the Securities Ordinance shall continue in existence and shall be maintained by the Commission until such time as it is paid out under this paragraph, and

(b) the Securitics Commission Compensation Fund Committes established by section 100 of the Securities Ordinance shall continue in existence for the purposes of that section with such members as were immediately prior to the appointed day appointed thereto or as are appointed from time to time thereafter under That section.

(2) Except as provided in this paragraph, no claim may be made for compensation" from the compensation fund.