Entire Section

  • Part V Miscellaneous

    • Waiver of requirements of Parts 2 and 3

      The Commission may, by notice to an applicant or an issuer and a recognized exchange company modify or waive, subject to such reasonable conditions as the Commission may think fit to impose, any requirement of Parts 2 and 3 where the Commission is of the opinion that —

      (a) the applicant or issuer, as the case may be, cannot comply with the requirement or it would be unreasonable or unduly burdensome for the applicant or issuer to do so;
      (b) the requirement has no relevance to the circumstances of the applicant or issuer, as the case may be; or
      (c) compliance with the requirement would be detrimental to the commercial interests of the applicant or issuer, as the case may be, or to the interests of the holders of its securities.

    • Suspensions, etc. by a recognized exchange company to be notified to the Commission

      (1) If a recognized exchange company intends to suspend dealings in any securities it shall, where reasonably practicable, inform the Commission of its intention prior to such suspension or, if not so practicable, inform the Commission of the suspension as soon as possible after the suspension.
      (2) If a recognized exchange company, after having suspended dealings in any securities, intends to permit dealings in the securities to recommence, it shall, where reasonably practicable, inform the Commission of its intention to permit dealings to recommence or, if not so practicable, inform the Commission as soon as possible after permitting dealings to recommence.
      (3) A recognized exchange company shall not cancel the listing of any securities unless it gives the Commission at least 48 hours' notice of its intention to do so.
      (4) This section applies only to the suspension of dealings in any securities or the cancellation of dealings in any securities by a recognized exchange company other than in accordance with a direction of the Commission under section 8 or 9.

    • Notices, etc. to be in writing

      Any notice or direction under these Rules shall be in writing.

    • Transitional

      (1) Where —
      (a) before the commencement of these Rules, any power could have been, but was not, exercised under rule 9 or 10 of the Securities (Stock Exchange Listing) Rules (Cap.333 sub. leg.) which has been repealed under section 406 of the Ordinance ("the repealed Rules"); or
      (b) before such commencement any power has been exercised under any provision referred to in paragraph (a), and the exercise of the power would, but for the commencement, continue to have force and effect on or after such commencement,

      then —
      (c)
      (i) where paragraph (a) applies, the power may be exercised; or
      (ii) where paragraph (b) applies, the exercise of the power shall continue to have force and effect,
      as if the repealed Rules had not been repealed; and
      (d) the provisions of the repealed Rules shall continue to apply to the exercise of the power and to any matters relating thereto (including any right to make representations in respect of the exercise of the power under rule 9) as if the repealed Rules had not been repealed.
      (2) Subject to subsection (3), where before the commencement of these Rules, an application is made under rule 3 of the repealed Rules and immediately before such commencement the application has not been approved, refused or withdrawn, the application shall upon such commencement be treated as an application under section 3 and the provisions of these Rules (except section 3) shall apply accordingly.
      (3) Section 5 shall apply only to any part of an application submitted on or after the commencement of these Rules.

      Andrew Len Tao SHENG
      Chairman,
      Securities and Futures Commission

      9 December 2002

      Explanatory Note

      These Rules are made by the Securities and Futures Commission under section 36(1) of the Securities and Futures Ordinance (Cap.571). The Rules —

      (a) prescribe certain requirements to be met before securities may be listed, including requirements for applications for the listing of securities and the employment of approved share registrars;
      (b) provide for the cancellation of the listing of securities if the requirements are not met;
      (c) prescribe the circumstances in which and the conditions subject to which a recognized exchange company shall suspend dealings in securities;
      (d) provide for the filing with the Commission of copies of applications for the listing of securities and information disclosed to the public by issuers and certain other persons; and
      (e) provide for other requirements to be complied with by a recognized exchange company.