Hong Kong Ordinances

FINANCIAL REPORTING COUNCIL ORDINANCE - SECT 36

Council’s powers to close case, suspend investigation and follow up, etc.

(1) The Council may, in relation to an investigation under this Part
concerning a relevant irregularity—

   (a)  close the case without further action;

   (b)  suspend the investigation for such period as the Council thinks fit;
        or

   (c)  carry out such other follow-up action in accordance with this
        Ordinance as the Council thinks fit.

(2) The Council shall not, in relation to an investigation under this Part,
exercise a power under subsection (1) unless the Council has taken into
account the report prepared under section 35(1) or (2) in relation to the
investigation.

(3) As soon as practicable after deciding to exercise a power under subsection
(1), the Council shall give written notice of the decision to—

   (a)  in the case where the relevant irregularity is an auditing
        irregularity, the auditor concerned; or

   (b)  in the case where the relevant irregularity is a reporting
        irregularity, the reporting accountant concerned, unless the Council
        is satisfied that the notification may prejudice the investigation, or
        any other action by the Council, or a specified body, relating to the
        investigation.