1964_PROTECTION_OF_INVESTORS_ORDINANCE — Page 15

HK Historical Laws 香港歷史法例 All AI Reviewed

CAP. 335]

Protection of Investors

[1989 Ed.

(3) For the purposes of this section-

(a) where any statement, forecast, or promise to which this section relates was made by a company or other body corporate, every person who was a director of the company or body corporate at the time when the statement, forecast, or promise was made shall, in the absence of evidence to the contrary, be taken to have caused or authorized it to be made; and

(b) a person is deemed to be a director of a company or other body corporate if he occupies the position of director by whatever name he may be called, or is a person in accordance with whose directions or instructions the directors of the company or other body or any of them act; but a person shall not, by reason only that the directors of a company or other body corporate act on advice given by him in a professional capacity, be taken to be a person in accordance with whose directions or instructions those directors act.

(4) Nothing in this section limits or diminishes any liability which any person may incur under the common law.

(5) This section does not confer a right of action in any case to which section 40 of the Companies Ordinance (Cap. 32) applies.

(6) An action may be brought under this section whether or not a person has been charged with or convicted of an offence under this Ordinance.

Miscellaneous

Amendment of Schedule

(1) The Financial Secretary may, by notice in the Gazette, amend Part I of the Schedule.

(2) The Commission may, after consultation with the Financial Secretary, by notice in the Gazette, amend Parts II, III, IV and V of the Schedule.

SCHEDULE

(Added 44 of 1989 s. 5)

[ss. 2, 4(2) & 9]

PART I

MINIMUM DENOMINATION

The sum specified for the purposes of section 4(2)(b) and (c) is $1 million or its equivalent in any other currency.

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14 CAP. 335] Protection of Investors [1989 Ed. (3) For the purposes of this section- (a) where any statement, forecast, or promise to which this section relates was made by a company or other body corporate, every person who was a director of the company or body corporate at the time when the statement, forecast, or promise was made shall, in the absence of evidence to the contrary, be taken to have caused or authorized it to be made; and (b) a person is deemed to be a director of a company or other body corporate if he occupies the position of director by whatever name he may be called, or is a person in accordance with whose directions or instructions the directors of the company or other body or any of them act; but a person shall not, by reason only that the directors of a company or other body corporate act on advice given by him in a professional capacity, be taken to be a person in accordance with whose directions or instructions those directors act. (4) Nothing in this section limits or diminishes any liability which any person may incur under the common law. (5) This section does not confer a right of action in any case to which section 40 of the Companies Ordinance (Cap. 32) applies. (6) An action may be brought under this section whether or not a person has been charged with or convicted of an offence under this Ordinance. Miscellaneous 9. Amendment of Schedule (1) The Financial Secretary may, by notice in the Gazette, amend Part I of the Schedule. (2) The Commission may, after consultation with the Financial Secretary, by notice in the Gazette, amend Parts II, III, IV and V of the Schedule. SCHEDULE (Added 44 of 1989 s. 5) [ss. 2, 4(2) & 9] PART I MINIMUM DENOMINATION The sum specified for the purposes of section 4(2)(b) and (c) is $1 million or its equivalent in any other currency. Page 15 Page 16

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! 14 CAP. 335] Protection of Investors [1989 Ed. (3) For the purposes of this section- (a) where any statement, forecast, or promise to which this section relates was made by a company or other body corporate, every person who was a director of the company or body corporate at the time when the statement, forecast, or promise was made shall, in the absence of evidence to the contrary, be taken to have caused or authorized it to be made; and (b) a person is deemed to be a director of a company or other body corporate if he occupies the position of director by whatever name he may be called, or is a person in accordance with whose directions or instructions the directors of the company or other body or any of them act; but a person shall not, by reason only that the directors of a company or other body corporate act on advice given by him in a professional capacity, be taken to be a person in accordance with whose directions or instructions those directors act. (4) Nothing in this section limits or diminishes any liability which any person may incur under the common law. (5) This section does not confer a right of action in any case to which section 40 of the Companies Ordinance (Cap. 32) applies. (6) An action may be brought under this section whether or not a person has been charged with or convicted of an offence under this Ordinance. Miscellaneous 9. Amendment of Schedule (1) The Financial Secretary may, by notice in the Gazette, amend Part I of the Schedule. (2) The Commission may, after consultation with the Financial Secretary, by notice in the Gazette, amend Parts II, III, IV and V of the Schedule. SCHEDULE (Added 44 of 1989 s. 5) [ss. 2, 4(2) & 9] PART I MINIMUM DENOMINATION The sum specified for the purposes of section 4(2)(b) and (se) is $1 million or its equivalent in any other currency. f Page 15Page 16

2026-05-05 06:59:18 · Baseline

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