1964_SECURITIES_(DISCLOSURE_OF_INTERESTS)_ORDINANCE — Page 34

1988 Ed.]

Securities (Disclosure of Interests)

[CAP. 396

33

(i) any member of the listed company or other corporation which is the subject of the report;

(ii) any person whose conduct is referred to in the report;

(iii) the auditors of that listed company or corporation;

(iv) the applicants for the investigation;

(v) any other person whose financial interests appear to the Financial Secretary to be affected by the matters dealt with in the report, whether as a creditor of the listed company or corporation, or otherwise; and

(c) cause any such report to be printed and published.

Expenses of investigation of the affairs of a company

[cf. U.K. 1985 c. 6, s. 437]

40. (1) The expenses of and incidental to an investigation by an inspector appointed by the Financial Secretary under section 33 or 34 shall be defrayed in the first instance out of general revenue, but the following persons shall, to the extent mentioned, be liable to repay such expenses to the Government---

(a) any person who is convicted by a court or magistrate on a prosecution instituted as a result of the investigation shall be liable to such extent (if any) as may be ordered by such court or magistrate;

(b) the listed company dealt with by the investigation shall be liable to such extent (if any) as the Financial Secretary may direct;

(c) the director and chief executive of the listed company dealt with by the investigation shall be liable to such extent (if any) as the Financial Secretary may direct;

(d) any person who has an interest notifiable under Part II in relevant share capital of the listed company dealt with by the investigation shall be liable to such extent (if any) as the Financial Secretary may direct; and

(e) the applicants for the investigation, where the inspector was appointed under section 33(3), shall be liable to such extent (if any) as the Financial Secretary may direct.

(2) The report of an inspector appointed under section 33(3) may, if he thinks fit, and shall if the Financial Secretary so directs, include a recommendation as to the directions, if any, he thinks appropriate, in the light of his investigation, to be given under subsection (1)(b), (c), (d) or (e).

(3) Any liability to repay the Government imposed by paragraph (a) of subsection (1), shall, subject to the satisfaction of the right of the Government to repayment, be a liability also to indemnify all persons against liability under paragraphs (b), (c), (d) and (e) thereof, and any person liable under the said paragraphs (a), (b), (c), (d) and (e) shall be entitled to contribution from any other person liable under the same paragraph, according to the amount of their respective liabilities thereunder.