Hong Kong Regulations

LEVERAGED FOREIGN EXCHANGE TRADING (ARBITRATION) RULES - SECT 32

Costs

Caution: This is a past version. See the current version here.

(1) Whenever the arbitrator makes an arbitration award, including an award on
agreed terms and an order for the termination of the arbitration proceedings,
he shall make an order for costs.

(2) The costs of arbitration shall in principle be borne by the unsuccessful
party.

(3) Notwithstanding subsection (2), the arbitrator shall be free to apportion
costs between the parties if he considers that apportionment is reasonable in
the circumstances.

(4) The order for costs shall specify-

   (a)  the sum to be paid, which shall include-

        (i)    the amount of fees of the arbitrator;

        (ii)   costs for legal advice or for other assistance such as
               translation, oral interpretation and shorthand writing required
               by the arbitrator;

        (iii)  travel and other expenses of witnesses to the extent allowed by
               the arbitrator;

        (iv)   costs of the successful party, including the costs for
               representation, to the extent allowed by the arbitrator;

        (v)    the amount of administrative or other costs, incurred by the
               arbitrator and the Arbitration Panel;

   (b)  the parties to and by whom payment shall be made; and

   (c)  the time limit for making payment.

(5) A party against whom such an order is made shall make payment in
accordance with the order. (Enacted 1994)