TNAG-1943-FCO40-2769-Stock-market-and-exchange-rate-in-Hong-Kong-1989 — Page 61

percentage of the consideration for such purchase and sale; and

different rates may be specified under this subsection in respect of

different classes of securities.

(2) In the case of every leviable transaction in each market of

the Futures Exchange Company, the purchaser and the seller shall each

of them be liable to pay to the Commission a levy of such amount as

may be specified by order of the Governor in Council; and different

amounts may be specified under this subsection in respect of

different leviable transactions.

(3) The Stock Exchange Company shall collect, account for and

pay to the Commission the levy referred to in subsection (1).

(4)

The Futures Exchange Company shall collect, account for and

pay to the Commission the levy referred to in subsection (2).

(5) The Governor in Council may by order amend the rate or

amount of levy payable under subsection (1) or (2).

(6) If at any time in any financial year the reserves of the

Commission, after deducting depreciation and all provisions, are more

than an amount equivalent to twice the estimated operating expenses

of the Commission for that financial year, submitted and approved in

accordance with section 13(2), and the Commission then has no

outstanding borrowings, the Commission shall consult the Financial

Secretary with a view to recommending to the Governor in Council that

the rate or amount of a levy payable under this section or fees or