1964_SECURITIES_ORDINANCE — Page 28

1989 Ed.]

Securities

[CAP. 333

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(a) that corporation;

(b) a registered dealing partnership, in which that corporation is a partner; or

(c) another corporation of which he is a dealing director and which is also a registered dealer.

(2) Any person who knowingly acts in contravention of subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine of $50,000 and, in the case of a continuing offence, to a further fine of $500 for each day during which the offence continues.

49D. Supervisory directors of corporations which are registered investment advisers only to carry on the business of an investment adviser for such corporations

(Added 58 of 1985 s. 5)

(1) No director of a corporation which is a registered investment adviser and who-

(a) actively participates in, or is directly responsible for the supervision of, the corporation's business as an investment adviser; and

(b) is registered as an investment adviser,

shall carry on in Hong Kong business as an investment adviser except on behalf of-

(i) that corporation;

(ii) a registered investment advisers' partnership in which that corporation is a partner; or

(iii) another corporation which is a registered investment adviser and of which he is a director, being a director who actively participates in, or is directly responsible for the supervision of, that other corporation's business as an investment adviser.

(2) Any person who knowingly acts in contravention of subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine of $20,000 and, in the case of a continuing offence, to a further fine of $200 for each day during which the offence continues.

50. Registration as a representative

(1) No person shall-

(Added 58 of 1985 s. 5)

(a) act as a dealer's representative in Hong Kong unless he is registered as such under this Part; or

(b) act as an investment representative in Hong Kong unless he is registered as such under this Part.

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