Hong Kong Ordinances

SECURITIES AND FUTURES ORDINANCE - SECT 60

Interest of recognized exchange controller in recognized exchange company or recognized clearing house cannot be increased or decreased except with approval of Commission

Where a recognized exchange controller is a controller of a recognized
exchange company or recognized clearing house, then, by virtue of this section
and notwithstanding any other enactment or rule of law-

   (a)  any interest the recognized exchange controller has in the recognized
        exchange company or recognized clearing house (as the case may be) as
        such controller cannot be increased or decreased except with the
        approval in writing of the Commission;

   (b)  any attempt (whether in the form of an agreement or otherwise and by
        whomsoever) to increase or decrease any such interest in contravention
        of paragraph (a) is void for all purposes.