Commodities Trading
[1989 Ed.
(c) in the case of an applicant that is a firm, on the grounds that-
(i) the applicant has not provided the Commission with such information relating to it or any person employed by or associated with it for the purposes of its business, and to any circumstances likely to affect its methods of conducting business, as may be prescribed by or under this Ordinance; (ii) any partner or employee of the applicant who applies to be registered as a dealer in his capacity as such partner or employee, as the case may be, would be refused registration under paragraph (a)(ii);
(iii) the applicant has at any time prior to the application entered into any composition or scheme of arrangement with its creditors;
(iv) the applicant does not have the financial resources, in respect of the business for which it applies for registration, specified in any rules made under section 28 of the Securities and Futures Commission Ordinance (Cap. 24) which are then in force and which would be applicable to it if its application for registration were granted; or (Replaced 10 of 1989 s. 65) (v) the applicant has not for the purposes of section 27 of the Securities and Futures Commission Ordinance (Cap. 24) notified the location of business premises at which every record or other document relating to the business in respect of which it applies to be registered is to be kept, such location not being, in the opinion of the Commission, unsuitable having regard to the purposes of section 30 of that Ordinance. (Replaced 10 of 1989 s. 65)
(2) The Commission shall not refuse to register an applicant under sub-section (1) without first giving the applicant an opportunity of being heard.
(3) Where the Commission refuses to register an applicant under sub-section (1), it shall notify the applicant in writing to that effect stating the reasons for the refusal.
(Amended 10 of 1989 s. 65)
33. Disposal and accounts of deposits paid under section 31
(1) Subject to subsection (14), if-
(a) an individual who is a dealer becomes bankrupt, the Commission shall transfer the deposit paid by or in respect of such individual under section 31 to his trustee in bankruptcy;
(b) a corporation or firm that is a dealer is ordered to be wound up or dissolved by or under the supervision of a court, the Commission shall transfer the deposit paid by or in respect of
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Commodities Trading
[1989 Ed.
(c) in the case of an applicant that is a firm, on the grounds that-
(i) the applicant has not provided the Commission with such information relating to it or any person employed by or associated with it for the purposes of its business, and to any circumstances likely to affect its methods of conducting business, as may be prescribed by or under this Ordinance; (ii) any partner or employee of the applicant who applies to be registered as a dealer in his capacity as such partner or employee, as the case may be, would be refused registration under paragraph (a)(ii);
(iii) the applicant has at any time prior to the application entered into any composition or scheme of arrangement with its creditors;
(iv) the applicant does not have the financial resources, in respect of the business for which it applies for registration, specified in any rules made under section 28 of the Securities and Futures Commission Ordinance (Cap. 24) which are then in force and which would be applicable to it if its application for registration were granted; or (Replaced 10 of 1989 s. 65) (v) the applicant has not for the purposes of section 27 of the Securities and Futures Commission Ordinance (Cap. 24) notified the location of business premises at which every record or other document relating to the business in respect of which it applies to be registered is to be kept, such location not being, in the opinion of the Commission, unsuitable having regard to the purposes of section 30 of that Ordinance. (Replaced 10 of 1989 s. 65)
(2) The Commission shall not refuse to register an applicant under sub- section (1) without first giving the applicant an opportunity of being heard.
(3) Where the Commission refuses to register an applicant under sub- section (1), it shall notify the applicant in writing to that effect stating the reasons for the refusal.
(Amended 10 of 1989 s. 65)
33. Disposal and accounts of deposits paid under section 31
(1) Subject to subsection (14), if-
(a) an individual who is a dealer becomes bankrupt, the Commission shall transfer the deposit paid by or in respect of such individual under section 31 to his trustee in bankruptcy;
(b) a corporation or firm that is a dealer is ordered to be wound up or dissolved by or under the supervision of a court, the Commission shall transfer the deposit paid by or in respect of
1
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