Hong Kong Ordinances

SECURITIES AND FUTURES ORDINANCE - SECT 63

Duties of recognized exchange controller

(1) It shall be the duty of a recognized exchange controller which is a
controller of a recognized exchange company or recognized clearing house to
ensure so far as reasonably practicable-

   (a)  an orderly, informed and fair market in securities or futures
        contracts traded on the stock market or futures market operated by the
        recognized exchange company or through the facilities of the company;

   (b)  that there are orderly, fair and expeditious clearing and settlement
        arrangements for any transactions in securities or futures contracts
        cleared or settled through the facilities of the recognized clearing
        house;

   (c)  that risks associated with its business and operations are managed
        prudently;

   (d)  that the recognized exchange company or recognized clearing house (as
        the case may be) complies with any lawful requirement placed on it
        under any enactment or rule of law and with any other legal
        requirement placed on it.

(2) In discharging its duty under subsection (1)(a), (b) or (c), a recognized
exchange controller shall-

   (a)  act in the interest of the public, having particular regard to the
        interest of the investing public; and

   (b)  ensure that the interest of the public prevails where it conflicts
        with the interest of the recognized exchange controller.