1964_SECURITIES_ORDINANCE — Page 69

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CAP. 333]

Securities

[1989 Ed.

(b) sent or attempted to send, or conspired to send, out of Hong Kong any such book, account, record, or document or any property mentioned in paragraph (b) of that subsection, the onus of proving that in so doing he did not act with intent to prevent, delay, or obstruct the carrying out of an examination and audit under this Part shall lie on him.

(3) Any person who, with intent to prevent, delay, or obstruct the carrying out of an examination and audit under this Part, leaves, or attempts to leave, Hong Kong shall be guilty of an offence and shall be liable on conviction to a fine of $50,000 and to imprisonment for 2 years.

97. Right of committee to impose obligations, etc., on members of Exchange Company not affected by this Part

Nothing in this Part shall prevent the committee of the Exchange Company from imposing on members of the Exchange Company any further obligations or requirements which the committee thinks necessary with respect to-

(a) the audit of accounts;

(b) the information to be given in reports by auditors; or

(c) the keeping of accounts, books, and records.

PART X

COMPENSATION FUND

(Amended 58 of 1985 s. 60)

98. Interpretation

(1) In this Part, unless the context otherwise requires-

"Committee" means the Securities Compensation Fund Committee established under section 100(1); (Amended 10 of 1989 s. 65)

"compensation fund" means the fund established under section 99;

"default", in relation to the failure of a stockbroker to perform a legal obligation, means a default arising from-

(a) the bankruptcy, winding up or insolvency of the stockbroker;

(b) any breach of trust committed by the stockbroker; or

(c) any defalcation, fraud or misfeasance committed by the stockbroker or partner, being a partner in a dealing partnership, or by the servant of the stockbroker or of a dealing partnership in which he is a partner; (Replaced 58 of 1985 s. 61)

"legal obligation" includes an obligation arising under a contract or quasi-contract or under a trust (including a constructive trust);