1964_COMMODITIES_TRADING_ORDINANCE — Page 49

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CAP. 250

Commodities Trading

[1989 Ed.

(3) Where the Exchange Company makes a determination under subsection (1) or (2), it shall forthwith serve notice in writing of its determination on the claimant or on his solicitor and deliver a copy of the notice to the Commission.

(4) If the Exchange Company disallows, or allows partially, a claim under subsection (2), the determination of the Exchange Company shall specify the reasons for the disallowance or partial allowance, as the case may be.

(5) If, in the case of any particular claim, after taking into account all ascertained and contingent liabilities of the compensation fund, the Exchange Company considers that the assets of the fund so permit, it may, with the prior approval of the Commission, allow in respect of the claim such sum in excess of the amount specified in section 87(3) as the Exchange Company thinks fit. (Replaced 61 of 1985 s. 40)

(6) Without prejudice to section 92, a person aggrieved by a deter- mination of the Exchange Company under this section or section 91(2) may, within 1 month after the determination, appeal to an Appeals Committee in accordance with any rules made under section 74 and the provisions of Part VII, except sections 67 and 69, shall apply to any such appeal. (Added 61 of 1985 s. 40)

(7) The receipt of a copy-

(a) of a notice under subsection (3) notifying the allowance or partial

allowance of a claim; or

(b) of a decision allowing an appeal under subsection (6) and

conforming with section 75(1),

shall be sufficient authority for the Commission to pay the claimant the amount allowed by the Exchange Company or on appeal, as the case may be, but before making a payment the Commission may require the Exchange Company to provide such further particulars of the claim, the claimant and the determination or appeal as the Commission thinks fit. (Added 61 of 1985 s. 40. Amended L.N. 313 of 1985)

91. Exchange Company may require

production of documents, etc.

(1) The Exchange Company may require any person to produce any futures contracts, documents or statements of evidence necessary-

(a) in order to substantiate any claim for compensation under this

Part;

(b) for the purpose of exercising its rights against any shareholder or

against any other person; or

(c) for the purpose of enabling criminal proceedings to be brought against any person in respect of a default, being a default which is or involves the commission of a criminal offence.

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