1964_SECURITIES_(DISCLOSURE_OF_INTERESTS)_ORDINANCE — Page 26

1988 Ed.]

Securities (Disclosure of Interests)

[CAP. 396

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(5) The regulations may substitute a sum specified in the regulations for the sum for the time being mentioned in subsection (2).

[cf. U.K. 1985 c. 6, s. 219]

PART III

DISCLOSURE OF INTERESTS OF DIRECTORS, CHIEF EXECUTIVES AND THEIR FAMILIES

Duty of director and chief executive to disclose interests

in own listed company or associated corporation

28. (1) A person who-

(a) at the commencement of this Ordinance is a director or chief executive of a listed company and is then interested in shares in, or debentures of, the listed company or any associated corporation; or

(b) becomes a director or chief executive of a listed company and at the time when he does so is interested in shares in, or debentures of, the listed company or any associated corporation,

is under a duty to notify the company in writing-

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(i) of the subsistence of his interests at that time; and

and the Exchange

Company

45/90511

(ii) of the number of shares of each class in, and the amount of debentures

of each class of, the listed company or associated corporation in which as 11

each interest of his subsists at that time.

(2) A director or chief executive of a listed company is under a duty to notify the company in writing of the occurrence, while he is a director or chief executive, of any of the following events-

(a) any event in consequence of whose occurrence he becomes, or ceases to be, interested in shares in, or debentures of, the listed company or any associated corporation;

(b) the entering into by him of a contract to sell any such shares or

debentures;

(c)

the assignment by him of a right granted to him by the listed company to subscribe for shares in, or debentures of, the company;

(d) the grant to him by another corporation, being an associated corporation, of a right to subscribe for shares in, or debentures of, that associated corporation, the exercise of such a right granted to him and the assignment by him of such a right so granted; and

(e) any event in consequence of which a corporation becomes an associated corporation where he is immediately after the event interested in shares in, or debentures of, the corporation,

and notification to the listed company must state the number or amount, and class, of shares or debentures involved.

(3) The Schedule has effect in connection with subsections (1) and (2) above; and of the Schedule--

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