98
CAP. 3331
Securities
[1989 Ed.
(i) the investment record of an appropriate index of securities;
or
(ii) such other measure of investment performance as the Commission may specify in writing on the application of either party to a contract or intended contract.
(3) For the purposes of subsection (1)(b) and (c), “investment advisory contract" means a contract or agreement whereby a person agrees to act as investment adviser or to manage any investment or trading account of a client not being a unit trust or mutual fund corporation authorized by the Commission for the purposes of this Ordinance, or a company carrying on business as an investment company and registered under the Companies Ordinance (Cap. 32).
(4) Any investment adviser who knowingly enters into any contract in contravention of any of the provisions of subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine of $2,000.
(5) Any contract entered into in contravention of any of the provisions of subsection (1) shall, notwithstanding anything in the contract, be voidable at the option of the client.
144. Court may make certain orders
(1) Where, on the application of the Commission, it appears to the Court that a person has contravened this Ordinance or any conditions of registration thereunder, or is about to do an act with respect to dealing in securities that, if done, would be such a contravention, the Court may, without prejudice to any orders it would be entitled to make otherwise than pursuant to this section, make one or more of the following orders (Amended 10 of 1989 s.65)
(a) an order restraining a person from acquiring, disposing of, or otherwise dealing with any securities specified in the order;
(b) in relation to a registered dealer or registered dealing partnership, an order appointing a person to administer the property of the dealer or the partnership; (Amended 58 of 1985 s. 27)
(c) an order declaring a contract relating to securities to be void or voidable;
(d) for the purpose of securing compliance with any other order under this section, an order directing a person to do or refrain from doing a specified act; or
(e) any ancillary order which it considers necessary in consequence of the making of an order under paragraphs (a) to (d).
(2) The Court shall, before making an order under subsection (1), satisfy itself, so far as it can reasonably do so, that the order would not unfairly prejudice any person.
98
CAP. 3331
Securities
[1989 Ed.
(i) the investment record of an appropriate index of securities;
or
(ii) such other measure of investment performance as the Commission may specify in writing on the application of either party to a contract or intended contract.
(3) For the purposes of subsection (1)(b) and (c), “investment advisory contract" means a contract or agreement whereby a person agrees to act as investment adviser or to manage any investment or trading account of a client not being a unit trust or mutual fund corporation authorized by the Commission for the purposes of this Ordinance, or a company carrying on business as an investment company and registered under the Companies Ordinance (Cap. 32).
(4) Any investment adviser who knowingly enters into any contract in contravention of any of the provisions of subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine of $2,000.
(5) Any contract entered into in contravention of any of the provisions of subsection (1) shall, notwithstanding anything in the contract, be voidable at the option of the client.
144. Court may make certain orders
(1) Where, on the application of the Commission, it appears to the Court that a person has contravened this Ordinance or any conditions of registration thereunder, or is about to do an act with respect to dealing in securities that, if done, would be such a contravention, the Court may, without prejudice to any orders it would be entitled to make otherwise than pursuant to this section, make one or more of the following orders (Amended 10 of 1989 $.65)
(a) an order restraining a person from acquiring, disposing of, or
otherwise dealing with any securities specified in the order; (b) in relation to a registered dealer or registered dealing partnership, an order appointing a person to administer the property of the dealer or the partnership; (Amended 58 of 1985 s. 27)
(c) an order declaring a contract relating to securities to be void or
voidable;
(d) for the purpose of securing compliance with any other order under this section, an order directing a person to do or refrain from doing a specified act; or
(e) any ancillary order which it considers necessary in consequence
of the making of an order under paragraphs (a) to (d).
(2) The Court shall, before making an order under subsection (1), satisfy itself, so far as it can reasonably do so, that the order would not unfairly prejudice any person.
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