【法规名称】
【法规编号】 82437 什么是编号？
【正 文】
第3页 CAP 571I SECURITIES AND FUTURES (CLIENT MONEY) RULES
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[接上页] (b) is given to the licensed corporation or an associated entity of the licensed corporation by the client of the licensed corporation- (i) from whom or on whose behalf that amount of client money was received; or (ii) on whose behalf that amount of client money is being held;(c) directs the licensed corporation or associated entity to pay that amount of client money in a particular manner; and (d) ceases to have effect after the client money to which it relates has been paid by the licensed corporation or associated entity in the manner directed. Cap 571I s 8 Requirements in respect of a client's standing authority (1) For the purposes of section 4(4)(d) or 5(1)(c), a standing authority is a written notice that- (a) is given to a licensed corporation or an associated entity of a licensed corporation by a client of the licensed corporation; (b) authorizes the licensed corporation or associated entity to deal with client money from time to time- (i) received from or on behalf of; or (ii) held on behalf of, the client, in one or more specified ways;(c) subject to subsection (2), specifies a period not exceeding 12 months during which it is valid; and (d) specifies the manner in which it may be revoked.(2) Subsection (1)(c) shall not apply to a standing authority which is given to a licensed corporation or an associated entity of a licensed corporation by a client of the licensed corporation who is a professional investor. (3) A standing authority which is not revoked prior to its expiry- (a) may be renewed for one or more further periods- (i) not exceeding 12 months, if the client of the licensed corporation who gave it is not a professional investor; or (ii) of any duration, if the client of the licensed corporation who gave it is a professional investor, at any one time, with the written consent of the client of the licensed corporation who gave it; or(b) shall be deemed to have been renewed if- (i) at least 14 days prior to the expiry of the standing authority, the licensed corporation or associated entity to which it was given, gives a written notice to the client of the licensed corporation who gave the standing authority, reminding the client of its impending expiry, and informing the client that unless the client objects, it will be renewed upon expiry upon the same terms and conditions as specified in the standing authority and for- (A) an equivalent period to that specified in the standing authority; (B) any period not exceeding 12 months specified by the licensed corporation or associated entity, if the client of the licensed corporation is not a professional investor; or (C) a period of any duration specified by the licensed corporation or associated entity, if the client of the licensed corporation is a professional investor; and(ii) the client does not object to the renewal of the standing authority before its expiry.(4) Where a standing authority is deemed to have been renewed in accordance with subsection (3)(b), the licensed corporation or associated entity (as the case may be) shall give a written confirmation of the renewal of the standing authority to the client of the licensed corporation within one week after the date of expiry. Cap 571I s 9 Receipt of cheques for client money For the purposes of section 4(3)(a) and (4), a licensed corporation or an associated entity of a licensed corporation that receives a cheque for an amount of client money is regarded as having received such amount only upon receipt by it of the proceeds of that cheque. Cap 571I s 10 Requirement to pay money other than client money out of segregated accounts A licensed corporation or an associated entity of a licensed corporation which becomes aware that it is holding an amount of money in a segregated account that is not client money of the licensed corporation shall, within one business day of becoming so aware, pay that amount of money out of the segregated account. Cap 571I s 11 Reporting of non-compliance with certain provisions of these Rules If a licensed corporation or an associated entity of a licensed corporation to which section 4(1) or (4) or 5(1) applies becomes aware that it does not comply with such section, it shall, within one business day thereafter, give written notice of that fact to the Commission. Cap 571I s 12 Penalties (1) A licensed corporation, or an associated entity of a licensed corporation, which, without reasonable excuse, contravenes section 4 or 5 commits an offence and is liable- (a) on conviction on indictment to a fine of $200000 and to imprisonment for 2 years; or (b) on summary conviction to a fine at level 6 and to imprisonment for 6 months.(2) A licensed corporation, or an associated entity of a licensed corporation, which, with intent to defraud, contravenes section 4 or 5 commits an offence and is liable- (a) on conviction on indictment to a fine of $1000000 and to imprisonment for 7 years; or (b) on summary conviction to a fine of $500000 and to imprisonment for 1 year.(3) A licensed corporation, or an associated entity of a licensed corporation, which, without reasonable excuse, contravenes section 6, 8(4), 10 or 11 commits an offence and is liable on conviction to a fine at level 3. (4) A licensed corporation, or an associated entity of a licensed corporation, which, with intent to defraud, contravenes section 6, 8(4), 10 or 11 commits an offence and is liable on conviction to a fine at level 6. (5) In deciding whether or not a payment of client money under section 4(5)(a) or 5(2)(a) would be unconscionable, the court shall have regard to the factors specified in section 6 of the Unconscionable Contracts Ordinance (Cap 458), as if the standing authority in question were a contract under that Ordinance. |
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