| (Cap 571, section 35(1)) [1 April 2003] L.N. 12 of 2003 (L.N. 220 of 2002) Cap 571Y s 1 (Omitted as spent) (Omitted as spent) Cap 571Y s 2 Interpretation (1) In these Rules, unless the context otherwise requires- "Listing Rules" (《上市规则》) means the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited made by the Stock Exchange Company; "prescribed limit" (订明上限), in relation to a futures contract or a stock options contract, means the limit on the number of contracts prescribed for it under section 5; "reportable position" (须申报的持仓量) means an open position in futures contracts or stock options contracts the number of which is- (a) in the case of a futures contract specified in column 2 of Schedule 1, in excess of that specified opposite to it in column 4 of that Schedule; and (b) in the case of a stock options contract specified in column 2 of Schedule 2, in excess of that specified opposite to it in column 4 of that Schedule;"reporting day" (申报日) means a day other than- (a) a public holiday; (b) a Saturday; and (c) a gale warning day or a black rainstorm warning day as defined in section 71(2) of the Interpretation and General Clauses Ordinance (Cap 1).(2) For the purposes of these Rules, a reference to control, in relation to futures contracts or stock options contracts, shall be construed as a reference to control of such futures contracts or stock options contracts, either directly or indirectly. Cap 571Y s 3 Application These Rules apply to futures contracts and stock options contracts that are traded through the facilities of a recognized exchange company in accordance with the rules of the recognized exchange company. Cap 571Y s 4 Restrictions on number of contracts held or controlled (1) No person, other than a person referred to in subsections (2) and (4), may hold or control futures contracts or stock options contracts in excess of the prescribed limit. (2) A person specified in subsection (3) may be authorized under the rules of the recognized exchange company concerned to hold or control futures contracts or stock options contracts in excess of the prescribed limit. (3) A person who may be authorized for the purposes of subsection (2) is- (a) a person registered with the Futures Exchange Company for the purpose of performing market making or liquidity providing activities in respect of futures contracts in accordance with its rules; (b) a person registered with the Stock Exchange Company for the purpose of performing market making or liquidity providing activities in respect of stock options contracts in accordance with its rules; (c) an issuer of securities listed under Chapter 15A of the Listing Rules who holds or controls futures contracts or stock options contracts in the course of hedging the risks of positions previously acquired in such listed securities for the purpose of performing liquidity providing activities in respect of such listed securities; or (d) a related corporation of an issuer of securities listed under Chapter 15A of the Listing Rules, where the related corporation holds or controls futures contracts or stock options contracts in the course of hedging the risks of positions previously acquired in such listed securities for the purpose of performing liquidity providing activities in respect of such listed securities.(4) A person, other than a person who may be authorized under subsection (3), may hold or control futures contracts or stock options contracts in excess of the prescribed limit if- (a) such person is able to satisfy the Commission that special circumstances exist which warrant the person holding or controlling the futures contracts or the stock options contracts in excess of the prescribed limit; (b) the Commission is satisfied that the excess would not be prejudicial to the interest of the investing public having regard to the prescribed limit and the liquidity of the futures contracts or the stock options contracts in question; and (c) the Commission has given the person notice in writing that it is satisfied of the matters referred to in paragraphs (a) and (b). Cap 571Y s 5 Prescribed limits For the purposes of section 4(1), the limit on the number of contracts that may be held or controlled is- (a) in the case of a futures contract specified in column 2 of Schedule 1, that specified opposite to it in column 3 of that Schedule; and (b) in the case of a stock options contract specified in column 2 of Schedule 2, that specified opposite to it in column 3 of that Schedule. Cap 571Y s 6 Notice of reportable positions (1) Any person who holds or controls a reportable position shall lodge a notice in writing of that reportable position with the recognized exchange company concerned within one reporting day following- (a) the day on which the person first holds or controls that reportable position; and (b) each succeeding day on which the person continues to hold or control that reportable position.(2) A notice referred to in subsection (1) shall be accompanied by the following information- |
