TNAG-1656-FCO40-2304-Hong-Kong-legislation-on-trade-1987 — Page 8

A BILL

To

Enclosure No. 4

Amend the Commodities Trading Ordinance.

Enacted by the Governor of Hong Kong, with the advice and consent

of the Legislative Council thereof.

1. This Ordinance may be cited as the Commodities Trading Short title (Amendment) Ordinance 1987.

2. Section 11(1) of the principal Ordinance is amended—

(a) in paragraph (b) by deleting “and”;

Amendment of section 11.

(Cap. 250.)

(b) by inserting, after paragraph (b), the following-

3.

“(ba) shall not, with a view to gain for himself or another or with intent to avoid loss to himself or another, make use of any such matter; and".

Section 12(1) of the principal Ordinance is amended by deleting Amendment of "person who has been appointed under or" and substituting the following

section 12.

"public officer".

Explanatory Memorandum

This Bill has two purposes.

2. Clause 2 amends section 11 of the principal Ordinance, which imposes certain obligations on persons appointed under, or employed in carrying out or in assisting any person to carry out, the principal Ordinance.

2

The amendment provides that such a person shall not, with a view to gain for himself or another or with intent to avoid loss to himself or another, use any matter coming to his knowledge in the exercise or performance of any duty or function under that Ordinance.

3. Clause 3 amends section 12 of the principal Ordinance, which prohibits persons appointed under, or employed in carrying out or in assisting any person to carry out, the principal Ordinance from trading in commodity futures contracts. By virtue of this amendment, the prohibition no longer applies to persons appointed under the Ordinance and is limited to public officers who are employed in carrying out or in assisting any person to carry out the principal Ordinance.

4. The Bill has no Public Service staffing or public expenditure implications.

2.

1987年商品交易(修訂)條例草案

本條例草案目的有二。

摘要說明

草案第2條修訂原有條例第11條;該第11條條文規定下述人士須承擔 若干項責任,該等人士即:根據原有條例規定而獲委任的人士,以及受僱執行或協 助任何人士執行原有條例的人士。這項修訂規定:上述人士不得為了謀求個人利 益,或為他人謀取利益,或企圖為避免個人遭受損失,或為協助他人避免損失等緣 故,而利用他們在執行或履行原有條例所規定的任務或職責時所獲知的任何事情。

3.

草案第3條修訂原有條例第12條;該第12條條文禁止下述人士從事商 品期貨合約的交易事宜——即:根據原有條例規定而獲委任的人士或受僱執行或協 助任何人士執行原有條例的人士。由於這項修訂,上述禁制規定對那些根據原有條 例規定而獲委任的人士已不再適用,而祇適用於那些受僱執行或協助任何人士執行 原有條例的公職人員。

4. 本草案對政府開支和人手需求方面都没有影響。

Enclosure No. 3

DIEU

Legal Supplement No. 1

TO THE

HONG KONG

GOVERNMENT GAZETTE

Published by Authority

FRIDAY, 3 JULY, 1987

SUP. TO GAZETTE No. 27 VOL. CXXIX