1987 Ed.]
Exchanges (Special Levy)
[CAP. 351
1
CHAPTER 351
EXCHANGES (SPECIAL LEVY)
To impose special levies on transactions on the Commodity Exchange and Unified Exchange.
Originally 63 of 1987.
[29 October 1987.]
1. This Ordinance may be cited as the Exchanges (Special Levy) Ordinance.
2. In this Ordinance, unless the context otherwise requires-
"facility letters" means the facility letters entered into in October 1987 under which money is agreed to be loaned to the Hong Kong Futures Guarantee Corporation Limited to finance the settlement of obligations of the Corporation to clearing members of the Hong Kong Futures Exchange and, if the facility letters are replaced by another agreement or agreements, means that agreement or those agreements;
"Futures Exchange Company" means the Exchange Company under the Commodities Trading Ordinance;
"leviable transaction" has the same meaning as in section 79A(4) of the Commodities Trading Ordinance;
"securities" has the same meaning as in the Securities Ordinance;
"special levy fund" means the fund composed of money paid to the trustee under sections 3 and 4 and includes money earned by the fund;
"Stock Exchange Company" means the Exchange Company under the Stock Exchanges Unification Ordinance;
"trustee" means the Director of Accounting Services;
"Unified Exchange" has the same meaning as in the Stock Exchanges Unification Ordinance.
(Cap. 250.)
(Cap. 250.)
(Cap. 333.)
(Cap. 361.)
(Cap. 361.)
3. The Futures Exchange Company shall pay to the trustee or his agent a special levy of $30 for each leviable transaction in the Stock Index Market of the Futures Exchange Company.
4. The Stock Exchange Company shall pay to the trustee or his agent a special levy of 0.03%, rounded to the nearest cent, of the amount of consideration for each purchase and each sale of securities recorded on the Unified Exchange.
5. The trustee or his agent shall pay money out of the special levy fund in accordance with the facility letters.
Short title.
Interpretation.
Commodity Exchange special levy.
Stock Exchange special levy.
Trustee.
1987 Ed.]
Exchanges (Special Levy)
[CAP. 351
1
CHAPTER 351
EXCHANGES (SPECIAL LEVY)
To impose special levies on transactions on the Commodity Exchange
and Unified Exchange.
Originally
63 of 1987.
[29 October 1987.]
1. This Ordinance may be cited as the Exchanges (Special Levy) Ordinance.
2. In this Ordinance, unless the context otherwise requires-
"facility letters" means the facility letters entered into in October 1987 under which money is agreed to be loaned to the Hong Kong Futures Guarantee Corporation Limited to finance the settlement of obligations of the Corporation to clearing mem- bers of the Hong Kong Futures Exchange and, if the facility letters are replaced by another agreement or agreements, means that agreement or those agreements;
"Futures Exchange Company" means the Exchange Company under
the Commodities Trading Ordinance;
"leviable transaction" has the same meaning as in section 79A(4) of
the Commodities Trading Ordinance;
“securities" has the same meaning as in the Securities Ordinance;
"special levy fund" means the fund composed of money paid to the trustee under sections 3 and 4 and includes money earned by the fund;
"Stock Exchange Company" means the Exchange Company under
the Stock Exchanges Unification Ordinance;
Short title.
Interpretation.
(Cap. 250.)
(Cap. 250.)
(Cap. 333.)
(Cap. 361.)
"trustee" means the Director of Accounting Services;
"Unified Exchange" has the same meaning as in the Stock Exchanges
Unification Ordinance.
(Cap. 361.)
3. The Futures Exchange Company shall pay to the trustee or his agent a special levy of $30 for each leviable transaction in the Stock Index Market of the Futures Exchange Company.
4. The Stock Exchange Company shall pay to the trustee or his agent a special levy of 0.03%, rounded to the nearest cent, of the amount of consideration for each purchase and each sale of securi- ties recorded on the Unified Exchange.
Commodity Exchange special levy.
Stock Exchange special levy.
5. The trustee or his agent shall pay money out of the special Trustee. levy fund in accordance with the facility letters.
J
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