Hong Kong Regulations

SECURITIES AND FUTURES (STOCK MARKET LISTING) RULES - SECT 20

Transitional

(1) Where-

   (a)  before the commencement of these Rules, any power could have been, but
        was not, exercised under rule 9 or 10 of the Securities (Stock 
        Exchange Listing) Rules ( Cap 333 sub. leg. C) which has been repealed
under section 406 of the Ordinance ("the repealed Rules"); or

   (b)  before such commencement any power has been exercised under any
        provision referred to in paragraph (a), and the exercise of the power
        would, but for the commencement, continue to have force and effect on
        or after such commencement, then-

   (c)  (i) where paragraph (a) applies, the power may be exercised; or

        (ii)   where paragraph (b) applies, the exercise of the power shall
               continue to have force and effect, as if the repealed Rules had
               not been repealed; and

   (d)  the provisions of the repealed Rules shall continue to apply to the
        exercise of the power and to any matters relating thereto (including
        any right to make representations in respect of the exercise of the
        power under rule 9) as if the repealed Rules had not been repealed.

(2) Subject to subsection (3), where before the commencement of these Rules,
an application is made under rule 3 of the repealed Rules and immediately
before such commencement the application has not been approved, refused or
withdrawn, the application shall upon such commencement be treated as an
application under section 3 and the provisions of these Rules (except
section 3) shall apply accordingly.

(3) Section 5 shall apply only to any part of an application submitted on or
after the commencement of these Rules.