【法规名称】
【法规编号】 82407 什么是编号？
【正 文】
第2页 CAP 571X SECURITIES AND FUTURES (DISCLOSURE OF INTERESTS-SECURITIES BORROWING AND LENDING) RULES
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[接上页] (2) Subsection (1) applies where- (a) the shares are transferred or delivered by the person to an approved lending agent on condition that the shares- (i) are held by the approved lending agent, as agent for the person, for lending only and for no other purpose; and (ii) may only be lent under a relevant agreement;(b) qualified shares are lent by an approved lending agent to a borrower under a relevant agreement; (c) qualified shares lent by an approved lending agent are returned to the person by the approved lending agent; or (d) qualified shares lent by an approved lending agent are returned to the approved lending agent by a borrower under a relevant agreement.(3) If the shares referred to in subsection (1) are used by the approved lending agent in circumstances other than those specified in subsection (2), there shall be taken, for the purposes of Divisions 2 to 5 of Part XV of the Ordinance, to have been a change in the nature of the person's interest in the shares that were so used at the relevant time. Cap 571X s 4 Notification by an approved lending agent Where a person authorizes an approved lending agent to lend shares, only under a relevant agreement, as agent and- (a) the approved lending agent lends qualified shares to a borrower under the terms of a relevant agreement; or (b) qualified shares are returned to the approved lending agent by the borrower,the person shall not be required to secure under section 321 of the Ordinance that the approved lending agent notifies him of the lending or return of the qualified shares. Cap 571X s 5 Exclusion for an approved lending agent and a person controlling an approved lending agent (1) Subject to subsection (5), an approved lending agent who would otherwise come under a duty of disclosure under section 310 of the Ordinance in the circumstances specified in section 313(1) of the Ordinance is not under such a duty in the circumstances specified in subsection (3). (2) Subject to subsection (5), a person taken under section 316(2) of the Ordinance to be interested in shares in which an approved lending agent is interested who would otherwise come under a duty of disclosure under section 310 of the Ordinance in the circumstances specified in section 313(1) of the Ordinance is not under such a duty in the circumstances specified in subsection (3). (3) The circumstances referred to in subsections (1) and (2), in which the approved lending agent or person (as the case may be) is not under a duty of disclosure, are those where- (a) qualified shares are transferred or delivered by the person to the approved lending agent; (b) shares held by, or on behalf of, the approved lending agent become qualified shares when the person referred to in paragraph (a) authorizes the approved lending agent to lend the shares; (c) qualified shares are lent by the approved lending agent to a borrower under a relevant agreement; (d) qualified shares lent by the approved lending agent are returned to the approved lending agent by a borrower under a relevant agreement; (e) qualified shares held by, or on behalf of, the approved lending agent cease to be qualified shares; or (f) qualified shares are returned to the person referred to in paragraph (a) by the approved lending agent.(4) (a) In the circumstances specified in- (i) subsection (3)(a) or (b), the approved lending agent and the person referred to in subsection (2)(if any) are taken, for the purposes of Divisions 2 to 5 of Part XV of the Ordinance, to have acquired an interest in the shares at the relevant time; or (ii) subsection (3)(e) or (f), the approved lending agent and the person referred to in subsection (2)(if any) are taken, for the purposes of Divisions 2 to 5 of Part XV of the Ordinance, to have ceased to have an interest in the shares at the relevant time; and (b) in the circumstances where the approved lending agent ceases to have a subsisting right, under the relevant agreement under which qualified shares were lent, to require the return of the shares, the approved lending agent and the person referred to in subsection (2)(if any) are taken, for the purposes of Divisions 2 to 5 of Part XV of the Ordinance, to have ceased to have an interest in the shares at the relevant time,the approved lending agent and the person referred to in subsection (2)(if any) shall, where a duty of disclosure arises under section 310 of the Ordinance in such circumstances, come under a duty of disclosure. (5) If an approved lending agent fails to comply with any requirement imposed under section 9, the approved lending agent and the person referred to in subsection (2)(if any) are taken, for the purposes of Divisions 2 to 5 of Part XV of the Ordinance, to have acquired an interest in all qualified shares in which the approved lending agent was interested under the terms of a relevant agreement- (a) in the case of a failure to comply with section 9(1), on the last day of the period within which the approved lending agent is required to make the record; |
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