【法规名称】
【法规编号】 82455 什么是编号？
【正 文】
第12页 CAP 571 SECURITIES AND FUTURES ORDINANCE
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[接上页] (g) requiring a recognized exchange company when it expels any of its exchange participants, or suspends any of its exchange participants from trading on the recognized stock market or recognized futures market it operates or through its facilities, or requests any of its exchange participants to resign as an exchange participant, to notify the Commission of that fact within 3 business days after the expulsion, suspension or making of the request (as the case may be) and, in addition, to cause the expulsion, suspension or request to be notified to the public in such manner and within such period as may be prescribed in the rules; (h) any matter which is to be or may be prescribed by rules made under section 23.(2) Before making any rules in respect of any matter specified in subsection (1), the Commission shall consult- (a) the Financial Secretary; and (b) the recognized exchange company or all the recognized exchange companies (as the case may be) to which that matter relates.(3) Nothing in this section prevents a recognized exchange company from making rules under section 23 on any matter referred to in subsection (1), but any such rules shall have effect only to the extent that they are not repugnant to any rule made by the Commission under subsection (1). Cap 571 s 37 Recognition of clearing house Division 3-Clearing houses (1) Where the Commission is satisfied that it is appropriate to do so- (a) in the interest of the investing public or in the public interest; or (b) for the proper regulation of markets in securities or futures contracts,it may, after consultation with the Financial Secretary, by notice in writing served on a company, recognize the company as a clearing house- (i) subject to such conditions as it considers appropriate specified in the notice; and (ii) with effect from a date specified in the notice for the purpose.(2) Without limiting the generality of conditions which may be specified in a notice under subsection (1), the Commission may, by notice in writing served on a recognized clearing house, amend or revoke any condition specified in the first-mentioned notice or impose new conditions, where the Commission- (a) is satisfied that it is appropriate to do so on a ground specified in paragraph (a) or (b) of that subsection; and (b) has consulted the Financial Secretary.(3) Where the Commission amends or revokes any condition or imposes any new condition by a notice under subsection (2), the amendment, revocation or imposition takes effect at the time of service of the notice or at the time specified in the notice, whichever is the later. (4) Where a company becomes a recognized clearing house, the Commission shall cause notice of that fact to be published in the Gazette. (5) Where a company is seeking to be a recognized clearing house and the Commission is minded not to recognize the company under subsection (1), the Commission shall give the company a reasonable opportunity of being heard before making a decision not to recognize the company. (6) Where the Commission refuses to recognize a company as a clearing house under subsection (1), the Commission shall, by notice in writing served on the company, inform the company of the refusal and of the reasons for it. Cap 571 s 38 Duties of recognized clearing house (1) It shall be the duty of a recognized clearing house to ensure- (a) so far as reasonably practicable, that there are orderly, fair and expeditious clearing and settlement arrangements for any transactions in securities or futures contracts cleared or settled through its facilities; and (b) that risks associated with its business and operations are managed prudently.(2) In discharging its duty under subsection (1), a recognized clearing house shall- (a) act in the interest of the public, having particular regard to the interest of the investing public; and (b) ensure that the interest of the public prevails where it conflicts with the interest of the recognized clearing house.(3) A recognized clearing house shall operate its facilities in accordance with the rules made under section 40 and approved under section 41. (4) A recognized clearing house shall formulate and implement appropriate procedures for ensuring that its clearing participants comply with the rules of the clearing house. (5) A recognized clearing house shall at all times provide and maintain- (a) adequate and properly equipped premises; (b) competent personnel; and (c) automated systems with adequate capacity, facilities to meet contingencies or emergencies, security arrangements and technical support,for the conduct of its business. Cap 571 s 39 Immunity, etc. (1) Without limiting the generality of section 380(1), no civil liability, whether arising in contract, tort, defamation, equity or otherwise, shall be incurred by- (a) a recognized clearing house; or (b) any person acting on behalf of a recognized clearing house, including- (i) any member of the board of directors of the clearing house; or |
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