1964_COMMODITIES_TRADING_ORDINANCE — Page 48

HK Historical Laws 香港歷史法例 All AI Reviewed

1989 Ed.]

Commodities Trading

[CAP. 250

(b) acted honestly and reasonably in the matter,

it may direct that the appellant shall be subrogated to the extent of any payment made by him to all the rights and remedies against the compensation fund of the person to whom he has paid the compensation.

89. Notice calling for claims against

the compensation fund

(1) Where the Exchange Company has reason to believe that a shareholder has committed a default which might give rise to a claim for compensation under this Part, the Exchange Company shall cause to be published in 1 or more English language newspapers and 1 or more Chinese language newspapers, published daily and circulating generally in Hong Kong, a notice specifying a date, not being earlier than 3 months after publication of the notice, on or before which claims for compensation from the compensation fund may be made in relation to the shareholder specified in the notice. (Amended 61 of 1985 s. 39)

(2) Where any person wishes to claim compensation under this Part, he shall lodge a claim in writing either with the Exchange Company or with the Commission (Amended 61 of 1985 s. 39)

(a) if a notice under subsection (1) has been published, on or before

the date specified in the notice; or

(b) if no such notice has been published, within 3 months after the claimant became aware of the default giving rise to the claim.

(3) Any claim which is not lodged within the time limited by subsection (2) shall, unless the Exchange Company otherwise determines, be barred.

(4) An action for damages shall not lie against the Exchange Company or against any member of the management committee by reason of any notice published for the purposes of this section in good faith and without malice.

90. Power of the Exchange Company in respect of claims

(1) Where the Exchange Company is satisfied that a claim for compensation under this Part is a proper claim, it shall, subject to this Part, make a determination allowing the claim.

(2) If the Exchange Company is not satisfied as to the propriety of a claim for compensation under this Part, it shall make a determination disallowing the claim or, if it is satisfied as to the propriety of a part of such a claim, it shall make a determination allowing the claim as to that part.

(2A) A determination under subsection (1) or (2) shall be made by the Exchange Company within 6 months of the date on which the claim was lodged with the Exchange Company or the Commission or within such longer period as the Commissioner may authorize in any particular case. (Added 61 of 1985 s. 40)

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1989 Ed.] Commodities Trading [CAP. 250 47 (b) acted honestly and reasonably in the matter, it may direct that the appellant shall be subrogated to the extent of any payment made by him to all the rights and remedies against the compensation fund of the person to whom he has paid the compensation. 89. Notice calling for claims against the compensation fund (1) Where the Exchange Company has reason to believe that a shareholder has committed a default which might give rise to a claim for compensation under this Part, the Exchange Company shall cause to be published in 1 or more English language newspapers and 1 or more Chinese language newspapers, published daily and circulating generally in Hong Kong, a notice specifying a date, not being earlier than 3 months after publication of the notice, on or before which claims for compensation from the compensation fund may be made in relation to the shareholder specified in the notice. (Amended 61 of 1985 s. 39) (2) Where any person wishes to claim compensation under this Part, he shall lodge a claim in writing either with the Exchange Company or with the Commission (Amended 61 of 1985 s. 39) (a) if a notice under subsection (1) has been published, on or before the date specified in the notice; or (b) if no such notice has been published, within 3 months after the claimant became aware of the default giving rise to the claim. (3) Any claim which is not lodged within the time limited by subsection (2) shall, unless the Exchange Company otherwise determines, be barred. (4) An action for damages shall not lie against the Exchange Company or against any member of the management committee by reason of any notice published for the purposes of this section in good faith and without malice. 90. Power of the Exchange Company in respect of claims (1) Where the Exchange Company is satisfied that a claim for compensation under this Part is a proper claim, it shall, subject to this Part, make a determination allowing the claim. (2) If the Exchange Company is not satisfied as to the propriety of a claim for compensation under this Part, it shall make a determination disallowing the claim or, if it is satisfied as to the propriety of a part of such a claim, it shall make a determination allowing the claim as to that part. (2A) A determination under subsection (1) or (2) shall be made by the Exchange Company within 6 months of the date on which the claim was lodged with the Exchange Company or the Commission or within such longer period as the Commissioner may authorize in any particular case. (Added 61 of 1985 s. 40)

Baseline (Original)

1989 Ed.] Commodities Trading [CAP. 250 47 (b) acted honestly and reasonably in the matter, it may direct that the appellant shall be subrogated to the extent of any payment made by him to all the rights and remedies against the compensation fund of the person to whom he has paid the compensation. 89. Notice calling for claims against the compensation fund (1) Where the Exchange Company has reason to believe that a shareholder has committed a default which might give rise to a claim for compensation under this Part, the Exchange Company shall cause to be published in 1 or more English language newspapers and 1 or more Chinese language newspapers, published daily and circulating generally in Hong Kong, a notice specifying a date, not being earlier than 3 months after publication of the notice, on or before which claims for compensation from the compensation fund may be made in relation to the shareholder specified in the notice. (Amended 61 of 1985 s. 39) (2) Where any person wishes to claim compensation under this Part, he shall lodge a claim in writing either with the Exchange Company or with the Commission (Amended 61 of 1985 s. 39) (a) if a notice under subsection (1) has been published, on or before the date specified in the notice; or (b) if no such notice has been published, within 3 months after the claimant became aware of the default giving rise to the claim. (3) Any claim which is not lodged within the time limited by subsection (2) shall, unless the Exchange Company otherwise determines, be barred. (4) An action for damages shall not lie against the Exchange Company or against any member of the management committee by reason of any notice published for the purposes of this section in good faith and without malice. 90. Power of the Exchange Company in respect of claims (1) Where the Exchange Company is satisfied that a claim for compensation under this part is a proper claim, it shall, subject to this Part, make a determination allowing the claim. (2) If the Exchange Company is not satisfied as to the propriety of a claim for compensation under this Part, it shall make a determination disallowing the claim or, if it is satisfied as to the propriety of a part of such a claim, it shall make a determination allowing the claim as to that part. (2A) A determination under subsection (1) or (2) shall be made by the Exchange Company within 6 months of the date on which the claim was lodged with the Exchange Company or the Commission or within such longer period as the Commissioner may authorize in any particular case. (Added 61 of 1985 s. 40)

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