32
CAP. 333]
Securities
[1989 Ed.
52A. Accounts of sums deposited under section 52
(1) The Commission shall keep proper accounts of all sums deposited under section 52, and shall in respect of the financial year beginning before and ending after the day on which this section commences, and in respect of each subsequent financial year, prepare a revenue and expenditure account, and a balance sheet made up to the last day of that year.
(2) The Commission shall appoint an auditor who shall audit the accounts kept under subsection (1) and shall audit and prepare an auditor's report in respect of each balance sheet and revenue and expenditure account prepared under subsection (1) and shall submit the report to the Commission.
(3) (Repealed 10 of 1989 s. 65)
53. Refusal of registration
(Added 62 of 1976 s. 14. Amended 10 of 1989 s. 65)
(1) The Commission may refuse to register an applicant for registration under this Part-
(a) in the case of an applicant who is an individual, on the grounds that-
(i) the applicant has not provided the Commission with such information relating to him or any person employed by or associated with him, and to any circumstances likely to affect his method of conducting business, as may be prescribed by or under this Ordinance;
(ii) the applicant is detained under the Mental Health Ordinance (Cap. 136) in a mental hospital or is a person suffering or appearing to suffer from mental disorder within the meaning of that Ordinance; (Amended 46 of 1988 s. 33)
(iii) the applicant is an undischarged bankrupt or has committed such an act of bankruptcy as is described in section 3(1) of the Bankruptcy Ordinance (Cap. 6) or has entered into any compromise or scheme of arrangement with his creditors; (Amended 58 of 1985 s. 10)
(iv) the applicant does not have the financial resources, in respect of the business for which he applies for registration, specified in any rules made under section 28 of the Securities and Futures Commission Ordinance (Cap. 24) which are then in force and which would be applicable to him if his application for registration were granted; or (Replaced 10 of 1989 s. 65)
(v) the applicant has not for the purposes of section 27 of the Securities and Futures Commission Ordinance (Cap. 24) notified the location of business premises at which every
32
CAP. 333]
Securities
[1989 Ed.
52A. Accounts of sums deposited under section 52
(1) The Commission shall keep proper accounts of all sums deposited under section 52, and shall in respect of the financial year beginning before and ending after the day on which this section commences, and in respect of each subsequent financial year, prepare a revenue and expenditure account, and a balance sheet made up to the last day of that year.
(2) The Commission shall appoint an auditor who shall audit the accounts kept under subsection (1) and shall audit and prepare an auditor's report in respect of each balance sheet and revenue and expenditure account prepared under subsection (1) and shall submit the report to the Commission.
(3) (Repealed 10 of 1989 s. 65)
53. Refusal of registration
(Added 62 of 1976 s. 14. Amended 10 of 1989 s. 65)
(1) The Commission may refuse to register an applicant for registration under this Part-
(a) in the case of an applicant who is an individual, on the grounds
that-
(i) the applicant has not provided the Commission with such information relating to him or any person employed by or associated with him, and to any circumstances likely to affect his method of conducting business, as may be prescribed by or under this Ordinance;
(ii) the applicant is detained under the Mental Health Ordinance (Cap. 136) in a mental hospital or is a person suffering or appearing to suffer from mental disorder within the meaning of that Ordinance; (Amended 46 of 1988 s. 33) (iii) the applicant is an undischarged bankrupt or has committed such an act of bankruptcy as is described in section 3(1) of the Bankruptcy Ordinance (Cap. 6) or has entered into any compromise or scheme of arrangement with his creditors; (Amended 58 of 1985 s. 10)
(iv) the applicant does not have the financial resources, in respect of the business for which he applies for registration, specified in any rules made under section 28 of the Secrurities and Futures Commission Ordinance (Cap. 24) which are then in force and which would be applicable to him if his application for registration were granted; or (Replaced 10 of 1989 s. 65)
(v) the applicant has not for the purposes of section 27 of the Securities and Futures Commission Ordinance (Cap. 24) notified the location of business premises at which every
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