1989 Ed.]
Securities
[CAP. 333
23
(5) Where any direction under subsection (1) is in force, any authorized officer may take such steps as may be necessary to ensure that the premises to which the direction relates are locked and secured.
(6) Any person who enters or attempts to enter any premises in respect of which a direction under subsection (1) is in force without the authority of an authorized officer shall be guilty of an offence and shall be liable on conviction to a fine of $50,000.
(7) Where any direction is issued under subsection (1), that direction shall take effect immediately, notwithstanding that an appeal has been made or may be made under section 29.
(8) In this section "authorized officer" means an authorized officer of the Commission or any police officer.
(Replaced 58 of 1986 s. 43. Amended 10 of 1989 s. 65)
27. Commission may order closure of Unified Exchange in emergencies, etc.
(1) Without prejudice to the powers of the Commission under section 26, the Commission may, after consultation with the Exchange Company, order that the Unified Exchange be closed for the transaction of dealings in securities for a period not exceeding 5 bank trading days.
(2) The Commission may make an order under subsection (1) on the ground that, in his opinion, the orderly transaction of business on the Unified Exchange is being or is likely to be prevented because-
(a) an emergency or natural disaster has occurred in Hong Kong; or
(b) there exists an economic or financial crisis, whether in Hong Kong or elsewhere, or any other circumstances, which is likely to prevent orderly trading on the Unified Exchange.
(3) An order made under subsection (1) may be renewed by a further order for a further period of not more than 10 bank trading days.
(4) Any dealer who deals in securities listed on the Unified Exchange while an order made under subsection (1) or (3) is in force (being an order which has been notified to the committee of the Exchange Company) shall be guilty of an offence and shall be liable on conviction to a fine of $50,000.
(5) Where an order under subsection (1) or (3) has been made, the Commission may take such steps as are necessary to secure compliance with the order and may, in particular, cause the premises of the Unified Exchange to be locked and secured.
(6) Any person who, without the authority of the Commission, enters or attempts to enter the premises of the Unified Exchange which have been locked and secured under subsection (5) shall be guilty of an offence and shall be liable on conviction to a fine of $20,000.
(Replaced 58 of 1986 s. 43. Amended 10 of 1989 s. 65)
1989 Ed.]
Securities
[CAP. 333
23
(5) Where any direction under subsection (1) is in force, any authorized officer may take such steps as may be necessary to ensure that the premises to which the direction relates are locked and secured.
(6) Any person who enters or attempts to enter any premises in respect of which a direction under subsection (1) is in force without the authority of an authorized officer shall be guilty of an offence and shall be liable on conviction to a fine of $50,000.
(7) Where any direction is issued under subsection (1), that direction shall take effect immediately, notwithstanding that an appeal has been made or may be made under section 29.
(8) In this section "authorized officer" means an authorized officer of the Commission or any police officer.
(Replaced 58 of 1986 s. 43. Amended 10 of 1989 s. 65)
27. Commission may order closure of Unified
Exchange in emergencies, etc.
(1) Without prejudice to the powers of the Commission under section 26, the Commission may, after consultation with the Exchange Company, order that the Unified Exchange be closed for the transaction of dealings in securities for a period not exceeding 5 bank trading days.
(2) The Commission may make an order under subsection (1) on the ground that, in his opinion, the orderly transaction of business on the Unified Exchange is being or is likely to be prevented because-
(a) an emergency or natural disaster has occurred in Hong Kong; or (b) there exists an economic or financial crisis, whether in Hong Kong or elsewhere, or any other circumstances, which is likely to prevent orderly trading on the Unified Exchange.
(3) An order made under subsection (1) may be renewed by a further order for a further period of not more than 10 bank trading days.
(4) Any dealer who deals in securities listed on the Unified Exchange while an order made under subsection (1) or (3) is in force (being an order which has been notified to the committee of the Exchange Company) shall be guilty of an offence and shall be liable on conviction to a fine of $50,000.
(5) Where an order under subsection (1) or (3) has been made, the Commission may take such steps as are necessary to secure compliance with the order and may, in particular, cause the premises of the Unified Exchange to be locked and secured.
(6) Any person who, without the authority of the Commission, enters or attempts to enter the premises of the Unified Exchange which have been locked and secured under subsection (5) shall be guilty of an offence and shall be liable on conviction to a fine of $20,000.
(Replaced 58 of 1986 s. 43. Amended 10 of 1989 s. 65)
No comments yet.
Private notes are available after approval.