Hong Kong Ordinances

SECURITIES AND FUTURES ORDINANCE - SECT 47

Duty to report on completion of default proceedings

(1) A recognized clearing house shall, upon the completion by it of any
default proceedings, make a report on such proceedings stating in respect of
each defaulter-

   (a)  the net sum (if any) certified by the clearing house to be payable by
        or to the defaulter; or

   (b)  the fact that no sum is so payable,

(as the case may be) and the clearing house may include in that report such
other particulars in respect of such proceedings as it considers appropriate.

(2) A recognized clearing house which has made a report pursuant to subsection
(1) shall supply the report to-

   (a)  the Commission; and

   (b)  (i) any relevant office-holder acting in relation to- (A) the
        defaulter to whom the report relates; or (B) that defaulter's estate;
        or

        (ii)   if there is no relevant office-holder referred to in
               subparagraph (i), the defaulter to whom the report relates.

(3) Where the Commission receives pursuant to subsection (2) a report made
pursuant to subsection (1), it may publish notice of that fact in such manner
as it considers appropriate to bring it to the attention of creditors of the
defaulter to whom the report relates.

(4) Where a relevant office-holder or defaulter receives pursuant to
subsection (2) a report made pursuant to subsection (1), he shall, at the
request of a creditor of the defaulter to whom the report relates-

   (a)  make the report available for inspection by the creditor;

   (b)  on payment of such reasonable fee as the relevant office-holder or
        defaulter (as the case may be) determines, supply to the creditor all
        or any part of that report.

(5) In subsections (2), (3) and (4), "report" (報告) includes a copy of a
report.

"report" (報告)