1989 Ed.]
Commodities Trading
[CAP. 250
51
between the claimants in such manner as the Exchange Company or, as the case may be, the court thinks equitable; and any such claim shall, so far as it remains unpaid, be charged against further receipts of the compensation fund and paid out of the compensation fund when there is again money available in the compensation fund.
(2) Where the aggregate of all claims for compensation which have been allowed, or in respect of which court orders have been made, under this Part in respect of the default giving rise to the claims exceeds the total amount which may be paid under this Part in respect of any shareholder concerned in the default, that total amount shall be apportioned between the claimants in such manner as the Exchange Company or, as the case may be, the court thinks equitable; and, on payment out of the compensation fund of that total amount in accordance with that apportionment-
(a) all such claims and any order of the court relating to them; and (b) all other claims for compensation which may subsequently arise
or be made in connection with the default,
shall be absolutely discharged.
98. Power of Commission to return deposits on winding up of the Exchange Company
In the event of the Exchange Company being wound up under the Companies Ordinance (Cap.32), the Commission may, in its absolute discretion, after the satisfaction of all outstanding liabilities against the compensation fund, pay to the liquidator of the Exchange Company the whole or any part of the amounts deposited in cash by the Exchange Company under this Part, together with any income accrued in respect thereof; and on any such payment being made those amounts shall form part of the assets of the Exchange Company and be available to the liquidator for distribution in accordance with the Companies Ordinance (Cap.32).
PART IX
MISCELLANEOUS PROVISIONS
99. Procedure on appeal
An appeal to the High Court under this Ordinance shall be made within such time and in such manner, and shall be heard in accordance with such procedure, as may be prescribed by rules of court made under the Supreme Court Ordinance (Cap.4).
1989 Ed.]
Commodities Trading
[CAP. 250
51
between the claimants in such manner as the Exchange Company or, as the case may be, the court thinks equitable; and any such claim shall, so far as it remains unpaid, be charged against further receipts of the compensation fund and paid out of the compensation fund when there is again money available in the compensation fund.
(2) Where the aggregate of all claims for compensation which have been allowed, or in respect of which court orders have been made, under this Part in respect of the default giving rise to the claims exceeds the total amount which may be paid under this Part in respect of any shareholder concerned in the default, that total amount shall be apportioned between the claimants in such manner as the Exchange Company or, as the case may be, the court thinks equitable; and, on payment out of the compensation fund of that total amount in accordance with that apportionment-
(a) all such claims and any order of the court relating to them; and (b) all other claims for compensation which may subsequently arise
or be made in connection with the default,
shall be absolutely discharged.
98. Power of Commission to return deposits on winding up of the Exchange Company
In the event of the Exchange Company being wound up under the Companies Ordinance (Cap. 32), the Commission may, in its absolute discretion, after the satisfaction of all outstanding liabilities against the compensation fund, pay to the liquidator of the Exchange Company the whole or any part of the amounts deposited in cash by the Exchange Company under this Part, together with any income accrued in respect thereof; and on any such payment being made those amounts shall form part of the assets of the Exchange Company and be available to the liquidator for distribution in accordance with the Companies Ordinance (Cap. 32).
PART IX
MISCELLANEOUS PROVISIONS
99. Procedure on appeal
An appeal to the High Court under this Ordinance shall be made within such time and in such manner, and shall be heard in accordance with such procedure, as may be prescribed by rules of court made under the Supreme Court Ordinance (Cap. 4).
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