Hong Kong Ordinances

LEGISLATIVE COUNCIL ORDINANCE - SECT 20U

Composition of the financial services functional constituency

(Past version on 01/04/2003).
(Past version on 01/07/2000).
(Past version on 06/03/2000).
(Past version on 30/07/1999).

For the saving and transitional provisions relating to the amendments made by
the Resolution of the Legislative Council (L.N. 130 of 2007), see paragraph
(12) of that Resolution.

(1) The financial services functional constituency is composed of- (Amended 12
of 2000 s. 23)

   (a)  subject to subsection (2), exchange participants of a
        recognized exchange company; and (Replaced 5 of 2002 s. 407)

   (b)  (Repealed 5 of 2002 s. 407)

   (c)  members of The Chinese Gold & Silver Exchange Society entitled to vote
        at general meetings of the Society. (Added 48 of 1999 s. 13)

(2) Notwithstanding any other enactment or rule of law-

   (a)  by virtue of this subsection, the rules of a recognized 
        exchange company may provide that a class of exchange participants
        specified in the rules are not exchange participants for the purposes
        of this Ordinance;

   (b)  no amendment or substitution of the rules of a recognized 
        exchange company made on or after the commencement of this subsection
        shall have effect- (Amended 5 of 2002 s. 407)

        (i)    for the purposes of this Ordinance to the extent, if any, to
               which the amendment or substitution, as the case may be, causes
               a person to become or to cease to be an exchange participant of
               the recognized  exchange company; and

        (ii)   unless the amendment or substitution, as the case may be, has
               been approved in writing by the Secretary for Constitutional
               and Mainland Affairs. (Added 12 of 2000 s. 23. Amended 5 of
               2002 s. 407; L.N. 130 of 2007)

(3) In subsection (2)-

"exchange participant" (交易所參與者) has the same meaning as in
section 1 of Part 1 of Schedule 1 to the Securities and Futures Ordinance (
Cap 571); (Replaced 5 of 2002 s. 407)

"recognized exchange company" (認可交易所) has the same meaning as in
section 1 of Part 1 of Schedule 1 to the Securities and Futures Ordinance (
Cap  571); (Added 5 of 2002 s. 407)

"rules" (規章), in relation to a recognized exchange company, means the
rules governing the conduct, or the operation and management, of the
recognized exchange company or the conduct of its exchange participants, by
whatever name such rules may be called and wherever contained. (Added 12 of
2000 s. 23. Amended 5 of 2002 s. 407) (Amended 5 of 2002 s. 407)

"exchange participant" (交易所參與者)

"recognized exchange company" (認可交易所)

"rules" (規章)