1964_STOCK_EXCHANGES_UNIFICATION_ORDINANCE — Page 15

CAP. 361]

Stock Exchanges Unification

[1989 Ed.

SCHEDULE 1

PART I

[s. 44]

1. Such provisions as are necessary for the better implementation of Part II of this Ordinance as amended by the Stock Exchanges Unification (Amendment) Ordinance 1985 (59 of 1985) and, without derogation from the generality of the foregoing-

2. (a) to enable any individual who was a member immediately prior to the commencement of section 7 of that Ordinance, to resign his membership without penalty and to assign his shares in the Exchange Company to a body corporate which is, after such commencement, approved by the Exchange Company for admission to membership subject to such assignment;

(b) to enable persons who were associate members prior to such commencement and who, upon such commencement, are eligible to be members, to become members.

A provision requiring any member who is a partner in a dealing partnership which applies for registration under Part VI of the Securities Ordinance (Cap. 333) to notify the Exchange Company of such application at the time when application is made under that Part.

3. A provision enabling the Exchange Company to prohibit a member of the Exchange Company from being a partner in a limited partnership, notwithstanding that this is registered as a dealing partnership under Part VI of the Securities Ordinance (Cap. 333), where any partner who is not a registered dealer under that Part is not a person approved of by the Exchange Company.

4. PART II

Section 35 shall apply to the alteration and the Commission shall withhold its approval under section 35(1) if the alteration does not, in their opinion, give proper effect to section 44 and this Schedule. Until such approval is obtained the Exchange Company shall be deemed not to have complied with section 44(1) or any direction under section 44(3),

5. For the purpose of determining the validity of the alteration, all the provisions of the Stock Exchanges Unification (Amendment) Ordinance 1985 (59 of 1985) shall be deemed to have had effect upon the enactment thereof, but the alteration shall have no effect, notwithstanding the approval of the Commission under section 35(1), prior to the commencement of section 7 of the Stock Exchanges Unification (Amendment) Ordinance 1985 (59 of 1985).

6. In this Schedule "alteration" means the alteration to the constitution of the Exchange Company required by section 44(1).

(Replaced 59 of 1985 s. 15)

SCHEDULE 2

TRANSITIONAL ARRANGEMENTS

1. For the purposes of this Schedule-

2. [s. 43(3)]

(a) any term or expression not defined in this Ordinance shall have the same meaning as it had, immediately prior to the appointed day, in the Securities Ordinance (Cap. 333); and

(b) a reference to any provision in the Securities Ordinance (Cap. 333) shall be a reference to that provision in force immediately prior to the appointed day.

(1) All property of whatever kind and whether movable or immovable vested in or belonging to the Hong Kong Federation of Stock Exchanges immediately prior to the appointed day is as from such date transferred to and vested in the same interest in the Exchange Company

2.

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