1964_SECURITIES_ORDINANCE — Page 38

1989 Ed.]

Securities

[CAP. 333

37

registration of such a director, secretary, or other person has been revoked or suspended.

(2A) The Commission may-

(a) revoke the registration of a registered dealer or a registered dealing partnership; or

(b) suspend the registration of a registered dealer or registered dealing partnership for such time, or until the happening of such event, as it may determine,

if such dealer or partnership fails to comply with section 65B. (Added 58 of 1985 s. 49)

(3) The Commission may revoke a certificate of registration at the request of its holder.

(4) The Commission may at any time remove the suspension of the registration of a registered person if it appears to it desirable to do so.

(5) Every decision of the Commission revoking or suspending the registration of a registered person shall be notified to that person in writing and shall include a statement of the reasons on which it is based and take effect from the date on which it is notified to that person or such later date as is specified in the notice. (Replaced 62 of 1976 s. 16)

56. Powers of Commission in relation to misconduct

(Amended 10 of 1989 s. 65)

(1) The Commission may at any time make inquiry concerning any of the following matters-

(a) whether a registered person, being an individual, corporation or partnership-

(i) has provided the Commission, whether before or after becoming registered under this Ordinance or the Securities and Futures Commission Ordinance (Cap. 24), with such information relating to him, and to any circumstances likely to affect his method of conducting business, as may be required by or under either of those Ordinances;

(ii) is or has been guilty of any misconduct in relation to the conduct of his business; or

(iii) is a fit and proper person to be registered by reason of any other circumstances; or

(b) whether, in the case of a registered person that is a corporation,

any director, secretary or person concerned in the management of the corporation-

(i) is or has been guilty of any misconduct; or

(ii) is a fit and proper person to be a director, secretary or person concerned in the management of the corporation.