Hong Kong Ordinances

SECURITIES AND FUTURES ORDINANCE - SECT 8

Commission may establish committees

(1) The Commission may establish-

   (a)  standing committees; and

   (b)  special committees.

(2) The Commission may refer a matter to a committee established under this
section for consideration, inquiry or management.

(3) The Commission may appoint a person to be a member of a committee
established under this section, whether or not the person is a member of the
Commission, and may appoint a member of the committee to be the chairman of
the committee.

(4) A reference of a matter to a committee under subsection (2) does not
prevent the Commission from performing any of its functions.

(5) The Commission may-

   (a)  withdraw a reference under subsection (2) from a committee;

   (b)  revoke an appointment of a member or chairman of a committee under
        subsection (3).

(6) A committee established under this section may elect one of its members-

   (a)  to be its chairman if a chairman has not been appointed by the
        Commission under subsection (3); or

   (b)  to act as its chairman for any period during which a chairman
        appointed by the Commission under subsection (3) is unable to act as
        chairman due to illness, absence from Hong Kong or any other cause,
        and may at any time remove the member so elected from the office of
        the chairman.

(7) A committee established under this section may, subject to the provisions
of this Ordinance, regulate its own procedure and business.

(8) A committee established under this section shall meet when and where the
chairman of the committee determines, subject to any procedure fixed by the
committee and any direction given by the Commission under subsection (9).

(9) The Commission may give directions to a committee established under this
section, whether generally or in any particular case, and whether regarding
the manner in which it shall act or otherwise, and the committee shall act in
accordance with any such directions.