A person commits an offense if he persuade a person to not appear before the Tribunal, misbehaves in the sitting of the Tribunal and fails to comply with an order, prohibition or requirement of the Tribunal.

A licensed corporation shall carry on a regulated activity for which it is licensed when, Executive director of the corporation must be approved by the Commission as a responsible officer to carry on a regulated activity and At least 2 individuals including executive director of the corporation must be approved by the Commission as responsible officers to carry on a regulated activity.

A person can receive or hold in Hong Kong client assets of an intermediary if that person is the intermediary, is an associated entity of the intermediary and is an excluded person.

The Commission shall not request that a transfer order be made in respect of the making of financial resources rules unless the proposed designated exchange controller has first supplied the Commission with a draft of the financial resources rules which it proposes to make, and the Commission is satisfied that the rules, if made, will afford the investing public an adequate level of protection.

Notwithstanding any enactment or rule of law, no person appointed as a member of the board of directors of the HKEC may be removed from that office by a resolution of the other directors of the board or a special resolution of the HKEC.

After receiving an application Monetary Authority shall consider the application and shall consult and advise the commission that the applicant is worthy for registration.

Other functions include to maintain and promote confidence in the securities and futures industry in such manner as it considers appropriate, including by the exercise of its discretion to disclose to the public any matter relating or incidental to the performance of any of its functions.

The SFC will evaluate the educational and other qualifications or experience on the basis of nature of functions which will be assigned to that person.

Paragraph 4.1 of the Code of Conduct further provides that a licensed or registered person should ensure that any person it employs or appoints to conduct business is fit and proper and otherwise qualified to act in the capacity so employed or appointed (including having relevant professional training or experience).

Recognized clearing house must prefer public interest in all cases. Any failure by a recognized clearing house to comply with its rules in relation to a matter does not prevent the matter from being treated for the purposes of this Ordinance as done in accordance with the rules so long as the failure does not substantially affect the rights of a person entitled to require compliance with the rules.

The Commission shall, not later than 6 weeks after the receipt of a submission from a recognized clearing house, by notice in writing served on the clearing house, give its approval or refuse to give its approval (together with its reasons for the refusal) to the rules or amendment of the rules (as the case may be) or any part thereof, the subject of the submission.

Section 59 of the Bankruptcy Ordinance (Cap. 6) and section 268 of the Companies Ordinance (Cap. 32) do not apply to, a contract not effected by a recognized clearing house for the purpose of realizing property provided as market collateral.

The matters of financial status or solvency, educational or other qualifications or experience having regard to the nature of the functions to be performed, ability to carry on the regulated activity competently, honestly and fairly, reputation, character, reliability and financial integrity must be considered in respect of the person (if an individual), the corporation and any of its officers (if a corporation) or the institution, its directors, chief executive, managers, and executive officers (if an authorized financial institution).

The SFO empowers the SFC to take disciplinary actions, pursuant to the section of disciplinary action in respect of licensed persons or section of disciplinary action in respect of registered institutions of the SFO, against a regulated person1 of a licensed person or registered institution respectively if the person is, or was at any time, guilty of misconduct or the SFC is of the opinion that the person is not a fit and proper person to be or to remain the same type of regulated person.

The Commission shall, as soon as reasonably practicable after the end of each financial year of the Commission, prepare a report on its activities during the financial year and send a copy of the report to the Financial Secretary who shall cause a copy thereof to be laid on the table of the Legislative Council.

The Commission shall refuse to grant a license to carry on a regulated activity unless the applicant satisfies the Commission that it carries on a business principally outside Hong Kong in an activity which, if carried on in Hong Kong, would constitute the regulated activity, that it seeks to be licensed for the regulated activity solely for carrying on in Hong Kong such business in the activity, that the granting of the license would not result in its being granted licenses for respective license periods that in total exceed 6 months in any period of 24 months, that it is a fit and proper person to be so licensed for the regulated activity, that it has nominated at least one individual for approval by the Commission for the purposes to carry on regulated activity and that an application has been lodged for approval of premises to be used by the applicant for keeping records or documents required under this Ordinance.

The Commission may make rules for the purposes that in relation to any dispute between the licensed corporation and a client regarding or touching upon
any matter concerning the carrying on of that regulated activity, the licensed corporation is obliged, if the client so requires, to have the dispute settled by arbitration in accordance with rules made under the SFO that provide for the establishment and functions of an arbitration panel and
relevant matters, the appointment by the Financial Secretary of members of the arbitration panel, including a chairman and one or more than one deputy chairman, the appointment from the arbitration panel of a tribunal to hear a dispute between a licensed corporation and its client and the constitution and composition of the tribunal, the liability or entitlement to costs of a party to a dispute and the recovery of costs, the practice and procedure in the hearing of a dispute, the Commission to use the findings of a tribunal for performing its functions under any of the relevant provisions and the exercise of any discretion by a person under the rules.

A corporation licensed for carrying on regulated activities shall not carry on any regulated activity for which it is licensed unless every executive director of the licensed corporation who is an individual is approved by the Commission as a responsible officer of the corporation in relation to the regulated activity and not less than 2 individuals, at least one of whom shall be an executive director of the licensed corporation, are approved by the Commission as the responsible officers of the corporation in relation to the regulated activity.

The financial year of the Commission commences on 1 April each year, the Commission shall, not later than 31 December in each financial year the Commission has to submit approval to the Chief Executive for estimates of its income and expenditure for the next financial year. The Financial Secretary shall cause the estimates as approved by the Chief Executive to be laid on the table of the Legislative Council.

Basic information, in relation to an individual, means, in so far as applicable, the following particulars of the individual the title and the full personal name and surname in Chinese and English, the date and place of birth, gender, the Chinese commercial code and the number on his identity card issued under the Registration of Persons Ordinance (Cap. 177), and, if he is not the holder of a permanent identity card, the number, the name of the issuing agency and the date of expiry, of his passport, travel or other document issued by a competent government agency providing proof of identity nationality, the business, residential and correspondence addresses, and the contact telephone and facsimile numbers and electronic mail address.