1989 Ed.]
Protection of Investors
[CAP. 335
9
(i) the paid-up share capital of that subsidiary is not less than the sum specified in Part V; or
(ii) the issue of that instrument is guaranteed by that parent corporation, and the paid-up share capital of that parent corporation is not less than the sum specified in Part V. (Added 44 of 1989 s. 3)
(7) For the purposes of subsection (2)(g), the Commission may in authorizing the issue of any advertisement, invitation, or document impose such conditions as it thinks fit.
(8) For the purposes of subsection (3)(a)(i), the shares of a mutual fund corporation or the units of a unit trust, being a mutual fund corporation or unit trust which has not been authorized by the Commission pursuant to the Securities Ordinance (Cap. 333), together with any prospectus in relation thereto, shall not be treated as securities referred to therein. (Added 44 of 1989 s. 3)
[cf. 1958 c. 45 s. 14(1)–(6) U.K.]
5. Offence to issue advertisement relating to an investment management business unless registered
(1) A person shall not-
(a) issue, or have in his possession for the purposes of issue, any advertisement in which to his knowledge a person other than an investment adviser registered under the Securities Ordinance (Cap. 333) holds himself out as being prepared-
(i) to give investment advice in return for remuneration; or
(ii) to undertake for remuneration the management of investors' portfolios of securities; or
(b) issue or have in his possession for the purposes of issue any document which to his knowledge contains such an advertisement.
(2) Any person who contravenes subsection (1) shall be guilty of an offence, and shall be liable on conviction to a fine of $10,000.
(3) A person shall not be taken to contravene this section by reason only that he
(a) issues, or has in his possession for the purposes of issue, to purchasers copies of any newspaper, journal, magazine, or other periodical publication of general and regular circulation, which contain an advertisement to which this section relates; or
(b) issues advertisements which are or contain, or issues or has in his possession for the purposes of issue documents which contain, invitations to which this section relates to persons who are dealers or investment advisers registered under the Securities Ordinance (Cap. 333).
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Page 11
1989 Ed.]
Protection of Investors
[CAP. 335
9
(i) the paid-up share capital of that subsidiary is not less than
the sum specified in Part V; or
(ii) the issue of that instrument is guaranteed by that parent corporation, and the paid-up share capital of that parent corporation is not less than the sum specified in Part V. (Added 44 of 1989 s. 3)
(7) For the purposes of subsection (2)(g), the Commission may in authorizing the issue of any advertisement, invitation, or document impose such conditions as it thinks fit.
(8) For the purposes of subsection (3)(a)(i), the shares of a mutual fund corporation or the units of a unit trust, being a mutual fund corporation or unit trust which has not been authorized by the Commission pursuant to the Securities Ordinance (Cap. 333), together with any prospectus in relation thereto, shall not be treated as securities referred to therein. (Added 44 of 1989 5.3)
[cf. 1958 c. 45 s. 14(1)–(6) U.K.]
5. Offence to issue advertisement relating to an investment
management business unless registered
(1) A person shall not-
(a) issue, or have in his possession for the purposes of issue, any advertisement in which to his knowledge a person other than an investment adviser registered under the Securities Ordinance (Cap. 333) holds himself out as being prepared-
(i) to give investment advice in return for remuneration; or (ii) to undertake for remuneration the management of investors'
portfolios of securities; or
(b) issue or have in his possession for the purposes of issue any document which to his knowledge contains such an adver- tisement.
(2) Any person who contravenes subsection (1) shall be guilty of an offence, and shall be liable on conviction to a fine of $10,000.
(3) A person shall not be taken to contravene this section by reason only that he
(a) issues, or has in his possession for the purposes of issue, to purchasers copies of any newspaper, journal, magazine, or other periodical publication of general and regular circulation, which contain an advertisement to which this section relates; or (b) issues advertisements which are or contain, or issues or has in his possession for the purposes of issue documents which contain, invitations to which this section relates to persons who are dealers or investment advisers registered under the Securities
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