1964_SECURITIES_AND_FUTURES_COMMISSION_ORDINANCE — Page 56

56

CAP. 24]

Securities and Futures Commission

[1989 Ed.

being required to do so under that section, the Commission may certify the failure to the High Court and the High Court may thereupon inquire into the case and--

(a)

(b)

order such person to comply with the requirement within such period as may be fixed by the High Court; or

if the High Court is satisfied that such person has failed without reasonable excuse to comply with such requirement, punish him in the same manner as if he had been guilty of contempt of court.

(2) A person shall not be punished under subsection (1) and section 30 or 31 in respect of the same failure.

33. Investigations

(1) Where the Commission has reason to believe that-

(a) an offence under any of the relevant Ordinances may have been committed; or

(b) a person may have committed a defalcation or other breach of trust, fraud or misfeasance-

(i) in dealing in securities or trading in futures contracts;

(ii) in the management of investment in securities or in futures contracts;

(iii) in making property investment arrangements; or

(iv) in giving advice as regards the acquisition, disposal, purchase or sale, or otherwise investing in, any security or futures contract or as regards any property investment arrangements; or

(c) insider dealing for the purposes of Part XIIA of the Securities Ordinance (Cap. 333) may have taken place; or

(d) the manner in which a person has engaged or is engaging in any of the following activities referred to in paragraph (b) namely, the dealing or trading mentioned in subparagraph (i) thereof, the management mentioned in subparagraph (ii) thereof, the making of property investment arrangements or the giving of advice described in subparagraph (iv) thereof is not in the interest of the investing public or the public interest,

the Commission may in writing direct one or more of its employees or, with the consent of the Financial Secretary, appoint one or more other persons to be an investigator ("the investigator" (MA)) to investigate any matter referred to in paragraphs (a) to (d) and report to the Commission thereon.

(2) Where any matter is investigated under subsection (1) in relation to any person, that person is, for the purposes of this section, referred to as "the person under investigation" (MIN).