SECURITIES (DISCLOSURE OF INTERESTS)
Ord. No. 63/88
A359
(d) the grant to him by another corporation, being an associated corporation, of a right to subscribe for shares in, or debentures of, that associated corporation, the exercise of such a right granted to him and the assignment by him of such a right so granted; and (e) any event in consequence of which a corporation becomes an associated corporation where he is immediately after the event interested in shares in, or debentures of, the corporation,
and notification to the listed company must state the number or amount, and class, of shares or debentures involved.
(3) The Schedule has effect in connection with subsections (1) and (2) Schedule above; and of the Schedule-
(a) Part I contains rules for the interpretation of, and otherwise in relation to, subsections (1) and (2) and applies in determining, for purposes of those subsections, whether a person has an interest in shares or debentures;
(b) Part II applies with respect to the periods within which duties.
imposed by subsections (1) and (2) must be performed; and
(c) Part III specifies certain circumstances in which duties arising
from subsection (2) are deemed not to be performed.
(4) Subsections (1) and (2) are subject to any exceptions for which provision may be made by regulations.
(5) Subsection (2) does not require the notification by a person of the occurrence of an event whose occurrence comes to his knowledge after he has ceased to be a director or chief executive.
(6) A duty imposed by this section is deemed not to be performed unless the notice by means of which it purports to be performed is expressed to be given in performance of that duty.
(7) This section applies to shadow directors as to directors; but nothing in it operates so as to impose a duty with respect to shares in a corporation which is the wholly-owned subsidiary of another corporation for the purposes of section 124 of the Companies Ordinance.
(8) A person who-
(a) fails to perform, within the proper period, a duty to which he ist
subject under subsection (1) or (2); or
(b) in purported performance of a duty to which he is so subject, makes to the listed company a statement which he knows to be false, or recklessly makes to it a statement which is false,
commits an offence and is liable on summary conviction to a fine of $10,000 and to imprisonment for 6 months and on conviction upon indictment to a fine of $100,000 and to imprisonment for 2 years.
(Cap. 32)
29. (1) Every listed company shall keep in Hong Kong a register for Register of the purposes of section 28.
(2) Whenever a listed company receives information from a director or chief executive given in performance of a duty imposed on him by section 28, it is under a duty to enter in the register, against the director's or, as the case may be, the chief executive's name, the information received and the date of the entry.
directors' interests
notified under section 28 1985 c. 6, s. 325
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