Hong Kong Regulations

SECURITIES AND FUTURES (LEVERAGED FOREIGN EXCHANGE TRADING) (ARBITRATION) RULES - SECT 23

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(1) If, within the period fixed by the arbitrator, the claimant fails to file
a statement of claim without showing sufficient cause for such failure, the
arbitrator may make an order for the termination of the arbitration
proceedings in accordance with section 27.

(2) If, within the period fixed by the arbitrator, the respondent fails to
file a statement of defence without showing sufficient cause for such failure,
the arbitrator may, as he thinks fit, make an order in favour of the claimant
or make an order for the termination of the arbitration proceedings in
accordance with section 27.

(3) If one of the parties, duly notified under these Rules, fails to appear at
a hearing or fails to produce any document in that party's possession when
required to do so, without valid excuse, the arbitrator may proceed with the
arbitration and such proceedings are deemed to have been conducted in
accordance with section 13(1).