Hong Kong Ordinances

CLEARING AND SETTLEMENT SYSTEMS ORDINANCE - SECT 41

Contravention of provisions of Part 2

PART 5

OFFENCES

(1) A person who, without reasonable excuse, contravenes section  6 (1)
commits an offence and is liable—

   (a)  on conviction upon indictment, to a fine of $400000 and to
        imprisonment for 2 years; and

   (b)  in the case of a continuing offence, to a further fine of $10000 for
        every day during which the offence continues.

(2) A person who, without reasonable excuse, contravenes section  6 (2)
commits an offence and is liable—

   (a)  on conviction upon indictment, to a fine of $400000; and

   (b)  in the case of a continuing offence, to a further fine of $10000 for
        every day during which the offence continues.

(3) Where there is a contravention of a requirement set out in section 7(1) as
regards any designated system, every system operator and settlement
institution of the system commits an offence and is liable on conviction upon
indictment to a fine of $400000.

(4) A person who contravenes section 7(3) commits an offence and is liable on
conviction upon indictment to a fine of $400000.

(5) A person who fails to comply with a request made under section  12 (1)
commits an offence and is liable—

   (a)  on conviction upon indictment, to a fine of $400000 and to
        imprisonment for 2 years; and

   (b)  in the case of a continuing offence, to a further fine of $10000 for
        every day during which the offence continues.

(6) A person who fails to comply with a direction given under section 13(1)
commits an offence and is liable—

   (a)  on conviction upon indictment, to a fine of $400000 and to
        imprisonment for 2 years; and

   (b)  in the case of a continuing offence, to a further fine of $10000 for
        every day during which the offence continues.

(7) It is a defence for a person charged with an offence under subsection (3),
(5) or (6) to prove that—

   (a)  the requirement, request or direction (as the case may be) to which
        the charge relates concerns an aspect of the management or operations
        of the designated system other than an aspect for which the person is
        responsible; or

   (b)  he took all reasonable steps to ensure that the requirement, request
        or direction (as the case may be) to which the charge relates was
        complied with.