A 2
CAP. 351]
Exchanges (Special Levy) Rules
[1987 Ed.
[Subsidiary]
L.N. 421/87.
EXCHANGES (SPECIAL LEVY) RULES
(Cap. 351, section 8)
Citation.
[24 December 1987.]
1. These rules may be cited as the Exchanges (Special Levy) Rules.
Remission of Commodity Exchange special levy.
Remission of Stock Exchange special levy.
Remission of levies collected before commencement.
Returns.
Late remission charge.
Records.
REMISSION OF LEVIES
2. (1) On the 1st trading day of each month the Futures Exchange Company shall remit all special levies imposed under section 3 of the Ordinance from the 15th day of the previous month to the last day of that month.
(2) On the 1st trading day after the 14th day of each month the Futures Exchange Company shall remit all special levies imposed under section 3 of the Ordinance from the 1st day of that month to the 14th day of that month.
3. On or before the 7th trading day of each month the Stock Exchange Company shall remit all special levies imposed under section 4 of the Ordinance for the previous month.
4. The Exchange Companies shall include in their first remission following the commencement of these rules, all special levies previously imposed under the Ordinance but not previously remitted.
5. (1) The special levies shall be remitted as directed by the trustee and shall be accompanied by a return, signed by an authorized director of each Exchange Company, containing information required by the trustee.
(2) A return and the amount of money remitted in respect of a return may be adjusted to reflect an error in a previous return, in a manner approved by the trustee.
6. If an Exchange Company fails to remit a special levy as and when required under these rules, it is liable to pay on demand by the trustee a late remission charge of 2 per cent above the best lending rate of The Hongkong and Shanghai Banking Corporation calculated on a daily basis during the period of default on the amount of the late remission at the date of default.
7.
EXCHANGE COMPANIES EXAMINATION AND AUDIT
The Exchange Companies shall maintain proper books and records relating to the special levies imposed under the Ordinance.
1
A 2
CAP. 351]
Exchanges (Special Levy) Rules
[1987 Ed.
[Subsidiary]
L.N. 421/87.
EXCHANGES (SPECIAL LEVY) RULES
(Cap. 351, section 8)
Citation.
[24 December 1987.]
1. These rules may be cited as the Exchanges (Special Levy)
Rules.
Remission of
Commodity Exchange special levy.
Remission of Stock Exchange special levy.
Remission of levies collected before
commencement.
Returns.
Late remission charge.
Records.
REMISSION OF LEVIES
2. (1) On the 1st trading day of each month the Futures Exchange Company shall remit all special levies imposed under section 3 of the Ordinance from the 15th day of the previous month to the last day of that month.
(2) On the 1st trading day after the 14th day of each month the Futures Exchange Company shall remit all special levies imposed under section 3 of the Ordinance from the 1st day of that month to the 14th day of that month.
3. On or before the 7th trading day of each month the Stock Exchange Company shall remit all special levies imposed under section 4 of the Ordinance for the previous month.
4. The Exchange Companies shall include in their first remis- sion following the commencement of these rules, all special levies previously imposed under the Ordinance but not previously re- mitted.
5. (1) The special levies shall be remitted as directed by the trustee and shall be accompanied by a return, signed by an author- ized director of each Exchange Company, containing information required by the trustee.
(2) A return and the amount of money remitted in respect of a return may be adjusted to reflect an error in a previous return, in a manner approved by the trustee.
6. If an Exchange Company fails to remit a special levy as and when required under these rules, it is liable to pay on demand by the trustee a late remission charge of 2 per cent above the best lending rate of The Hongkong and Shanghai Banking Corporation calculated on a daily basis during the period of default on the amount of the late remission at the date of default.
7.
EXCHANGE COMPANIES EXAMINATION AND AUDIT
The Exchange Companies shall maintain proper books and records relating to the special levies imposed under the Ordinance.
1
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