9. Powers of the Commission upon the suspension under this Part of dealings in any securities
(1) An issuer which is aggrieved by a direction given by the Commission under section 8 may make representations in writing to the Commission and where an issuer makes such representations, the Commission shall notify the recognized exchange company.
(2) In respect of a direction given by the Commission under section 8, the recognized exchange company may make representations in writing to the Commission irrespective of whether representations in respect of that direction have been made by an issuer under subsection (1) and where the recognized exchange company makes such representations, the Commission shall notify the issuer.
(3) Where the Commission has —
(a) directed a recognized exchange company to suspend dealings in any securities under section 8(1); and
(b) considered any —
(i) representations made by the issuer under subsection (1);
(ii) representations made by the recognized exchange company under subsection (2); and
(iii) further representations made by the issuer or the recognized exchange company,
the Commission may by notice to the recognized exchange company —
(c) permit dealings in the securities to recommence subject to such conditions as the Commission may think fit to impose, being conditions of the nature specified in subsection (4); or
(d) direct the recognized exchange company to cancel the listing of the securities on a recognized stock market operated by it if the Commission —
(i) is satisfied that there has been a failure to comply with any requirement in respect of listing set out in these Rules or in any other rules made under section 36 of the Ordinance; or
(ii) considers that the cancellation of the listing is necessary to maintain an orderly market in Hong Kong,
and the recognized exchange company shall comply with the direction without delay.
(4) The conditions which may be imposed under subsection (3)(c) are —
(a) where the Commission has given a direction under section 8(1)(a) or (d), conditions imposed with the object of ensuring, so far as is reasonably practicable, that the issuer remedies the default by reason of which the suspension of dealings was directed;
(b) where the Commission has given a direction under section 8(1)(b), such conditions as the Commission may consider necessary or expedient in the interest of maintaining an orderly and fair market in securities traded through the facilities of the recognized exchange company mentioned in that section;
(c) where the Commission has given a direction under section 8(1)(c), such conditions as the Commission may consider to be in the interest of the investing public or in the public interest, or to be appropriate for the protection of investors generally or for the protection of the investors mentioned in that section.
(5) In subsection (3), "further representations" (進一步申述) means representations either in writing or orally or both in writing and orally as the issuer or the recognized exchange company may determine which are submitted within such reasonable time as the Commission may determine.
(6) The powers of the Commission under this section may only be exercised by a meeting of the Commission and are not delegable.
(7) A member of the Commission who made the decision in the exercise of the Commission 's powers under section 8 shall not participate in the deliberations or voting of the Commission in the performance of its functions under this section as regards that exercise of the Commission 's powers.
(8) Notwithstanding subsection (7), the member of the Commission referred to in that subsection may attend any meeting or proceeding of the Commission in the performance of its functions under this section as regards the exercise of the Commission 's powers under section 8 and may make such explanations of his decision as he thinks necessary.