1964_SECURITIES_AND_FUTURES_COMMISSION_ORDINANCE — Page 22

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CAP. 24]

Securities and Futures Commission

[1989 Ed.

(4) Where any person or committee purports to act pursuant to a delegation or sub-delegation under this section, he or it shall be presumed, until the contrary is shown, to be acting in accordance with the terms of the delegation or sub-delegation.

(5) The Legislative Council may by resolution amend the Schedule.

10. Advisory Committee

(1) There shall be an Advisory Committee to advise the Commission which shall consist of the chairman and not more than 2 executive directors of the Commission, who shall be appointed by the Commission, and not less than 8 or more than 12 other members appointed by the Governor after consultation with the Commission.

(2) The Advisory Committee shall meet at least once every 3 months.

(3) A meeting of the Advisory Committee may be convened by-

(a) the chairman of the Commission; or

(b) any other 3 members of the Advisory Committee.

(4) At a meeting of the Advisory Committee-

(a) the chairman of the Commission shall preside; or

(b) if the chairman of the Commission is not present, the members present shall choose one of their number to preside.

(5) The Commission may request the Advisory Committee to advise it on any matter of policy regarding the performance of any of its functions.

(6) Where a member of the Advisory Committee appointed by the Commission ceases to be an executive director of the Commission, he shall thereupon cease to be a member of the Advisory Committee.

(7) The Governor may by notice in writing remove a person from membership of the Advisory Committee.

11. Directions to Commission

(1) The Governor may give to the Commission such directions in writing as regards the performance of any of its functions as he considers appropriate.

(2) The Commission shall in performing its functions comply with any direction under this section.

12. Annual report of Commission

The Commission shall, as soon as practicable after the end of each financial year, prepare a report on its activities during that financial year and send a copy of the report to the Financial Secretary who shall cause a copy thereof to be laid on the table of the Legislative Council.