Adaptation of Laws (No. 20) Bill 1999

Adapt certain Ordinances to bring them into conformity with the Basic Law and with the status of Hong Kong as a Special Administrative Region of the People's Republic of China.

Enacted by the Legislative Council.

1. Short title

This Ordinance may be cited as the Adaptation of Laws (No. 20) Ordinance 1999.

2. Commencement

(1) This Ordinance shall be deemed to have come into operation on

1 July 1997.

(2) Subsection (1) shall be subject to Article 12 of the Hong Kong Bill of Rights set out in Part II of the Hong Kong Bill of Rights Ordinance

(Cap. 383).

3. Amendment of Ordinances

The Ordinances specified in the Schedules are amended in the manner indicated in those Schedules.

SCHEDULE 1 [s. 3]

Securities and Futures Commission Ordinance

1. Section 5 of the Securities and Futures Commission Ordinance (Cap. 24) is amended---

(a) in subsections (1) and (3), by repealing "Governor" wherever it appears and substituting "Chief Executive";

(b) in subsection (4), by repealing "總督" where it twice appears and substituting "行政長官";

2. Section 9(5) is amended by repealing "立法局" and substituting "立法會".

3. Section 10(1) and (7) is amended by repealing "Governor" and substituting "Chief Executive".

4. Section 11 is amended---

(a) in subsection (1), by repealing "Governor" and substituting "Chief Executive";

(b) in subsection (2), by repealing "總督" and substituting "行政長官".

5. Section 12 is amended by repealing "立法局" and substituting "立法會".

6. Section 14 is amended---

(a) in subsection (2), by repealing "Governor" and substituting "Chief Executive";

(b) in subsection (3), by repealing "立法局" and substituting "立法會".

7. Section 16(2) is amended by repealing "立法局" and substituting "立法會".

8. Section 18(2) and (3) is amended by repealing "Governor" wherever it appears and substituting "Chief Executive".

9. Section 21 is amended---

(a) in subsection (1), by repealing "Governor in Council" and substituting "Chief Executive in Council";

(b) in subsection (2), by repealing "總督會同行政局" and substituting "行政長官會同行政會議";

10. Section 22(4)(a) is amended by repealing "Governor in Council" and substituting "Chief Executive in Council".

11. Section 33(3) and (15)(b) and (c) is amended by repealing "立法局" and substituting "立法會".

12. Section 47(1), (5) and (6) is amended by repealing "Governor in Council" and substituting "Chief Executive in Council".

13. Section 50(3)(a) is amended by repealing "Governor in Council" and substituting "Chief Executive in Council".

14. Section 52(1), (2), (3)(c), (5), (6) and (8) is amended by repealing "Governor in Council" wherever it appears and substituting "Chief Executive in Council".

15. Section 53 is amended by repealing "立法局" and substituting "立法會".

16. Section 54(1) is amended by repealing "Governor in Council" and substituting "Chief Executive in Council".

SCHEDULE 2 [s. 3]

Commodity Exchanges (Prohibition) Ordinance

1. Section 7 of the Commodity Exchanges (Prohibition) Ordinance (Cap. 82) is amended by repealing "Governor" and substituting "Chief Executive".

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SCHEDULE 3 [s. 3]

Commodities Trading Ordinance

1. Section 2(1) of the Commodities Trading Ordinance (Cap. 250) is amended, in the definition of "corporation", in paragraph (a), by repealing "Crown" and substituting "Government".

2. Section 13(1) and (2)(b) is amended by repealing "Governor in Council" and substituting "Chief Executive in Council".

3. Section 25 is amended by repealing "Governor in Council" where it twice appears and substituting "Chief Executive in Council".

4. Section 45(2) is amended by adding "Chinese or" before "English" where it twice appears.

5. Section 109(2) is amended by repealing "Governor in Council" and substituting "Chief Executive in Council".

6. Section 115 is amended by repealing "Governor in Council" where it twice appears and substituting "Chief Executive in Council".

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SCHEDULE 4 [s. 3]

Securities Ordinance

1. Section 2(1) of the Securities Ordinance (Cap. 333) is amended, in the definition of "corporation", in paragraph (a), by repealing "Crown" and substituting "Government".

2. Section 14(2) is amended by repealing "Governor" and substituting "Chief Executive".

3. Section 29 is amended by repealing "Governor in Council" wherever it appears and substituting "Chief Executive in Council".

4. Section 66(2) is amended by repealing "Governor in Council" and substituting "Chief Executive in Council".

5. Section 82(3) is amended by repealing "Governor in Council" and substituting "Chief Executive in Council".

6. Section 83(2) is amended by adding "Chinese or" before "English" where it twice appears.

7. Section 132(1) is amended by repealing "立法局" and substituting "立法會".

8. Section 146(2) is amended by repealing "Governor in Council" and substituting "Chief Executive in Council".

9. Section 149 is amended by repealing "Governor in Council" and substituting "Chief Executive in Council".

SCHEDULE 5 [s. 3]

Stock Exchanges Unification Ordinance

1. Section 37 of the Stock Exchanges Unification Ordinance (Cap. 361) is amended by repealing "Governor in Council" wherever it appears and substituting "Chief Executive in Council".

2. Section 41(1) is amended by repealing "Governor in Council" and substituting "Chief Executive in Council".

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SCHEDULE 6 [s. 3]

Securities (Insider Dealing) Ordinance

1. Section 5(2) of the Securities (Insider Dealing) Ordinance (Cap. 395) is amended---

(a) in paragraph (a), by repealing "行政局" and substituting "行政會議";

(b) in paragraph (b), by repealing "立法局" and substituting "立法會";

(i) by repealing "Governor or" and substituting "Chief Executive or";

(ii) by repealing "Governor in Council" and substituting "Chief Executive in Council".

2. Section 15(2) is amended by repealing "Governor" and substituting "Chief Executive".

3. Section 26(2) is amended by repealing "立法局" and substituting "立法會".

4. The Schedule is amended, in paragraphs 4, 6, 7 and 8, by repealing "Governor" wherever it appears and substituting "Chief Executive".

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SCHEDULE 7 [s. 3]

Securities (Disclosure of Interests) Ordinance

1. Section 53(1) of the Securities (Disclosure of Interests) Ordinance (Cap. 396) is amended by repealing "Governor in Council" and substituting "Chief Executive in Council".

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SCHEDULE 8 [s. 3]

Leveraged Foreign Exchange Trading Ordinance

1. Section 44(3) and (16)(b) and (c) of the Leveraged Foreign Exchange Trading Ordinance
(Cap. 451) is amended by repealing "立法局" and substituting "立法會".

Explanatory Memorandum

The purpose of this Bill is to adapt certain Ordinances to bring them into conformity with the Basic Law and with Hong Kong's status as a Special Administrative Region of the People's Republic of China (clause 3, Schedules 1 to 8).

2. The Ordinances adapted and their respective Schedule numbers under the Bill are---

Commodities Trading Ordinance (Cap. 250) Schedule 3

Commodity Exchanges (Prohibition) Ordinance (Cap. 82) Schedule 2

Leveraged Foreign Exchange Trading Ordinance (Cap. 451) Schedule 8

Securities and Futures Commission Ordinance (Cap. 24) Schedule 1

Securities (Disclosure of Interests) Ordinance (Cap. 396) Schedule 7

Securities (Insider Dealing) Ordinance (Cap. 395) Schedule 6

Securities Ordinance (Cap. 333) Schedule 4

Stock Exchanges Unification Ordinance (Cap. 361) Schedule 5

3. The Bill also provides that the adaptations when passed into law shall take effect retrospectively, as from the date of the establishment of the Hong Kong Special Administrative Region (clause 2).