1964_SECURITIES_ORDINANCE — Page 29

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CAP. 333]

Securities

[1989 Ed.

(1A) No registered dealer or registered investment adviser and no corporation or partnership may be registered as a dealer's representative or an investment representative under this Part. (Added 58 of 1985 s. 6)

(1B) A dealer's representative or investment representative shall be registered as the representative of a registered dealer or, as the case may be, registered investment adviser specified in the register. (Added 58 of 1985 s. 6)

(1C) A dealer's representative or investment representative shall not act as a dealer's representative or, as the case may be, investment representative on behalf of any person other than the person specified in the register in accordance with subsection (1B). (Added 58 of 1985 s. 6)

(2) Any person who knowingly acts in contravention of subsection (1) or (1C) shall be guilty of an offence and shall be liable on conviction to a fine of $10,000 and, in the case of a continuing offence, to a further fine of $100 for each day during which the offence continues. (Amended 58 of 1985 s. 6)

50A. Partnerships which may be registered as dealing partnerships or investment advisers' partnerships

(1) No partnership may be registered or continue to be registered as a dealing partnership unless it is-

(a) a general partnership and all the partners are registered dealers;

or

(b) a limited partnership and all the general partners are registered dealers.

(2) No partnership may be registered or continue to be registered as an investment advisers' partnership unless it is-

(a) a general partnership and all the partners are registered investment advisers; or

(b) a limited partnership and all the general partners are registered investment advisers.

(Added 58 of 1985 s. 7)

51. Grant of certificates of registration

(1) Subject to any provision to the contrary in this Part or Part VIA and to subsection (5), the Commission shall, on application by any person in the prescribed manner and on payment of the prescribed fee, issue to that person- (Amended 62 of 1976 s. 11; 58 of 1985 s. 8; L.N. 294 of 1988; 10 of 1989 s. 65)

(a) a certificate of registration authorizing him to carry on business as a dealer in securities;

(b) a certificate of registration authorizing him to deal in securities as a representative of a registered dealer;