24
CAP. 250]
Commodities Trading
[1989 Ed.
(3) The Commission may revoke the registration of a registered person at the request of such person.
(4) The Commission shall not revoke the registration of a registered person under subsection (2) without first giving such person an opportunity of being heard.
(5) Where the Commission revokes the registration of a registered person under subsection (2) it shall notify such person in writing to that effect stating the reasons for the revocation and specifying the date on which the revocation shall take effect.
(Amended 10 of 1989 s. 65)
36. Powers of the Commission in relation to misconduct
(1) The Commission may at any time make inquiry concerning any of the following matters-
(a) whether a registered person-
(i) has provided the Commission, whether before or after becoming registered under this Ordinance or the Securities and Futures Commission Ordinance (Cap. 24), with such information relating to him, and to any circumstances likely to affect his method of conducting business, as may be required by or under either of those Ordinances;
(ii) is or has been guilty of any misconduct; or
(iii) is a fit and proper person to continue to remain registered by reason of any other circumstances;
(b) whether, in the case of a registered person that is a corporation or firm, any director, partner or person concerned in the management of the corporation or firm--
(i) is or has been guilty of any misconduct; or
(ii) is a fit and proper person to be a director, partner or person concerned in the management of the corporation or firm.
(2) After making such inquiry in respect of a registered person, the Commission may if it thinks fit-
(a) revoke the registration of the person;
(b) suspend the registration of the person for such time, or until the happening of such event, as it may determine; or
(c) reprimand him or, in the case of a registered person that is a corporation or firm, reprimand any director, partner or person concerned in its management.
(3) The Commission shall not impose any penalty under subsection (2) without first giving the registered person and, in the case of a registered person that is a corporation or firm, any director, partner or person concerned in its management, an opportunity of being heard.
Page 25
Page 26
1989 Ed.]
24
CAP. 250]
Commodities Trading
[1989 Ed.
(3) The Commission may revoke the registration of a registered person at the request of such person.
(4) The Commission shall not revoke the registration of a registered person under subsection (2) without first giving such person an opportunity of being heard.
(5) Where the Commission revokes the registration of a registered person under subsection (2) it shall notify such person in writing to that effect stating the reasons for the revocation and specifying the date on which the revocation shall take effect.
(Amended 10 of 1989 s. 65)
36. Powers of the Commission in relation to misconduct
(1) The Commission may at any time make inquiry concerning any of the following matters-
(a) whether a registered person-
(i) has provided the Commission, whether before or after becoming registered under this Ordinance or the Securities and Futures Commission Ordinance (Cap. 24), with such information relating to him, and to any circumstances likely to affect his method of conducting business, as may be required by or under either of those Ordinances;
(ii) is or has been guilty of any misconduct; or
(iii) is a fit and proper person to continue to remain registered by
reason of any other circumstances;
(b) whether, in the case of a registered person that is a corporation or firm, any director, partner or person concerned in the management of the corporation or firm--
(i) is or has been guilty of any misconduct; or
(ii) is a fit and proper person to be a director, partner or person concerned in the management of the corporation or firm. (2) After making such inquiry in respect of a registered person, the Commission may if it thinks fit-
(a) revoke the registration of the person;
(b) suspend the registration of the person for such time, or until the
happening of such event, as it may determine; or
(c) reprimand him or, in the case of a registered person that is a corporation or firm, reprimand any director, partner or person concerned in its management.
(3) The Commission shall not impose any penalty under subsection (2) without first giving the registered person and, in the case of a registered person that is a corporation or firm, any director, partner or person concerned in its management, an opportunity of being heard.
Page 25Page 26
1989 Ed.]
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