1964_COMMODITIES_TRADING_ORDINANCE — Page 41

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CAP. 250]

Commodities Trading

[1989 Ed.

65. Offences

(1) Any person who contravenes section 60 or 61 shall be guilty of an offence and shall be liable on conviction upon indictment to a fine of $10,000 and to imprisonment for 6 months.

(2) Any person who contravenes section 62, 63 or 64 shall be guilty of an offence and shall be liable on conviction upon indictment to a fine of $1,000,000 and to imprisonment for 7 years. (Amended 35 of 1982 s. 7)

PART VII

66-75. (Repealed 10 of 1989 s. 65)

PART VIII

COMPENSATION FUND

76. Interpretation

(1) In this Part, unless the context otherwise requires-

"Committee" means the Futures Compensation Fund Committee established under section 78(1). (Amended 10 of 1989 s. 65)

(2) A reference in this Part to a claimant or person making a claim includes, in the event of his death, insolvency or other disability, a reference to his personal representative or any other person having authority to administer his estate.

77. Establishment of compensation fund

The Commission shall establish and maintain a compensation fund, to be known as the compensation fund, for the purposes set out in this Part.

78. Futures Compensation Fund Committee

(1) There shall be a committee, to be known as the Futures Compensation Fund Committee, which shall be responsible, subject to this section, for the administration of the compensation fund.

(2) The Committee shall consist of 5 members who shall be appointed by the Commission and of whom at least 2 shall be directors of the Commission and at least 2 others shall be individuals nominated by the Exchange Company.

(Amended 61 of 1985 s. 28)