Statement
of effect of sections 10, 11 and 11A to be made in prospectus. (Cap. 32.)
15
11B. A licensee shall ensure that a
clear statement of the effect of sections
10, 11 and 11A is made in any prospectus
within the meaning of the Companies Ordinance
which may be issued at any time in respect
of the company.".
Repeal and replacement of section
13.
8. Section 13 of the principal Ordinance is repealed
and replaced by the following
"Renewal of licence.
13. (1) Not less than, 12 months before
the date of renewal of a licence the Board
shall submit recommendations to the Governor
in Council concerning the renewal of the
licence and the terms and conditions subject
to which it may be renewed.
(2) Having considered the recommend-
ations submitted under subsection (1), the
Governor in Council may -
(a)
renew a licence subject to such
terms and conditions as he may
specify; or
(b)
renew a licence by means of
granting a new licence in
substitution therefor, and in
doing so, may -
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