A358
Ord. No. 63/88
Duty of director and chief executive to disclose
interests in own listed company or associated corporation
[cf. 1985 c. 6, s. 324]
SECURITIES (DISCLOSURE OF INTERESTS)
(2) Any such member or other person may require a copy of any such register or report, or any part of it, on payment of $1 or such less sum as the company may prescribe by regulation, for every 100 words or fractional part of 100 words required to be copied; and the company shall cause any copy so required by a person to be sent to him before the expiration of the period of 10 days beginning with the day next following that on which the requirement is received by the company.
(3) If an inspection required under this section is refused or a copy so required is not sent within the proper period, the company and every officer of it who is in default commits an offence and is liable to a fine of $2,000 and, in the case of a continuing offence, to a further fine of $200 for each day during which the offence continues.
(4) In the case of a refusal of an inspection required under this section of any register or report, the High Court may by order compel an immediate inspection of it; and in the case of failure to send a copy required under this section, the High Court may by order direct that the copy required shall be sent to the person requiring it.
(5) The regulations may substitute a sum specified in the regulations for the sum for the time being mentioned in subsection (2).
PART III
DISCLOSURE OF INTERESTS OF DIRECTORS, CHIEF EXECUTIVES AND THEIR FAMILIES
28. (1) A person who-
(a)
at the commencement of this Ordinance is a director or chief executive of a listed company and is then interested in shares in, or debentures of, the listed company or any associated corporation;
or
(b) becomes a director or chief executive of a listed company and at the time when he does so is interested in shares in, or debentures of, the listed company or any associated corporation,
is under a duty to notify the company in writing-
(i) of the subsistence of his interests at that time; and
(ii) of the number of shares of each class in, and the amount of deben- tures of each class of, the listed company or associated corporation in which each interest of his subsists at that time.
(2) A director or chief executive of a listed company is under a duty to notify the company in writing of the occurrence, while he is a director or chief executive, of any of the following events—
(a) any event in consequence of whose occurrence he becomes, or ceases to be, interested in shares in, or debentures of, the listed company or any associated corporation;
(b) the entering into by him of a contract to sell any such shares or
debentures;
(c) the assignment by him of a right granted to him by the listed com-
pany to subscribe for shares in, or debentures of, the company;
A
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