Hong Kong Ordinances

FINANCIAL REPORTING COUNCIL ORDINANCE - SECT 31

Offences relating to requirements under Division 2

(1) A person commits an offence if he, without reasonable excuse, fails to
comply with a requirement imposed on him under section 25, 26, 27 or 28.

(2) A person commits an offence if he, with intent to defraud, fails to comply
with a requirement imposed on him under section 25, 26, 27 or 28.

(3) A person commits an offence if, being—

   (a)  an officer or employee of a listed corporation;

   (b)  an officer or employee of a responsible person of a listed collective
        investment scheme; or

   (c)  an officer or employee of a relevant undertaking of a listed entity,
        he, with intent to defraud, causes or allows the corporation,
        responsible person or undertaking to fail to comply with a requirement
        imposed on the corporation, responsible person or undertaking under
        section 25, 26, 27 or 28.

(4) A person commits an offence if he—

   (a)  in purported compliance with a requirement imposed on him under
        section 25, 26 or 27, produces any record or document, or gives an
        explanation, or makes a statement, that is false or misleading in a
        material particular; and

   (b)  knows that, or is reckless as to whether or not, the record or
        document, or the explanation or statement, is false or misleading in a
        material particular.

(5) A person commits an offence if he—

   (a)  in purported compliance with a requirement imposed on him under
        section 28, produces any record or document, or gives an answer or
        response, or gives any explanation or particulars, that is false or
        misleading in a material particular; and

   (b)  knows that, or is reckless as to whether or not, the record or
        document, or the answer or response, or the explanation or
        particulars, is false or misleading in a material particular.

(6) A person commits an offence if he, with intent to defraud—

   (a)  in purported compliance with a requirement imposed on him under
        section 25, 26 or 27, produces any record or document, or gives an
        explanation, or makes a statement, that is false or misleading in a
        material particular; or

   (b)  in purported compliance with a requirement imposed on him under
        section 28, produces any record or document, or gives an answer or
        response, or gives any explanation or particulars, that is false or
        misleading in a material particular.

(7) A person commits an offence if, being—

   (a)  an officer or employee of a listed corporation;

   (b)  an officer or employee of a responsible person of a listed collective
        investment scheme; or

   (c)  an officer or employee of a relevant undertaking of a listed entity,
        he, with intent to defraud, causes or allows the corporation,
        responsible person or undertaking to, in purported compliance with a
        requirement imposed on the corporation, responsible person or
        undertaking under section 25, 26 or 27, produce any record or
        document, or give an explanation, or make a statement, that is false
        or misleading in a material particular.

(8) A person commits an offence if, being—

   (a)  an officer or employee of a listed corporation;

   (b)  an officer or employee of a responsible person of a listed collective
        investment scheme; or

   (c)  an officer or employee of a relevant undertaking of a listed entity,
        he, with intent to defraud, causes or allows the corporation,
        responsible person or undertaking to, in purported compliance with a
        requirement imposed on the corporation, responsible person or
        undertaking under section 28, produce any record or document, or give
        an answer or response, or give any explanation or particulars, that is
        false or misleading in a material particular.

(9) A person is not excused from complying with a requirement imposed on him
under section 25, 26, 27 or 28 only on the ground that to do so might tend to
incriminate him.

(10) Despite anything in this Ordinance, no criminal proceedings may be
instituted against a person under subsection (1), (2), (3), (4),

(5), (6), (7) or (8) in respect of a conduct if—

   (a)  proceedings have previously been instituted against the person for the
        purposes of section 32(2)(b) in respect of the same conduct; and

   (b)  those proceedings remain pending, or by reason of the previous
        institution of those proceedings, no proceedings may again be lawfully
        instituted against that person for the purposes of section 32(2)(b) in
        respect of the same conduct.

(11) A person who commits an offence under subsection (1) is liable—

   (a)  on conviction on indictment to a fine of $200000 and to imprisonment
        for 1 year; or

   (b)  on summary conviction to a fine at level 5 and to imprisonment for 6
        months.

(12) A person who commits an offence under subsection (4) or (5) is liable—

   (a)  on conviction on indictment to a fine of $1000000 and to imprisonment
        for 2 years; or

   (b)  on summary conviction to a fine at level 6 and to imprisonment for 6
        months.

(13) A person who commits an offence under subsection (2), (3),

(6), (7) or (8) is liable—

   (a)  on conviction on indictment to a fine of $1000000 and to imprisonment
        for 7 years; or

   (b)  on summary conviction to a fine at level 6 and to imprisonment for 6
        months.