Legislative Council of Hong Kong

“ Every sitting of the Tribunal shall be held in public unless the Tribunal, on its own motion or on the application of any of the parties to the review, determines that in the interests of justice a sitting, or any part of a sitting, shall not be held in public in which case it may hold the sitting, or the relevant part of the sitting, as the case may be, in camera. ”

“ A person who, in giving information to the Monetary Authority in pursuance of an obligation under Part 2 or section 31—
(a) gives information that is false or misleading in a material particular; and (b) knows or ought to know that the information being given is false or misleading, commits an offence and is liable on conviction upon indictment to a fine of $400,000 and to imprisonment for 2 years. ”

“ A debt or other liability arising out of a transfer order which is the subject of action taken under default arrangements may not be proved in a bankruptcy or winding up until the completion of the action taken under default arrangements. ”

“ Obligation of participant to notify of bankruptcy or winding up
(1) A participant in a designated system shall notify the system operator of the system and the Monetary Authority forthwith if there comes to his knowledge any of the following circumstances occurring in Hong Kong, or any analogous circumstances occurring outside Hong Kong, namely—
(a) the presentation of a petition for the bankruptcy or winding up of the participant; (b) the making of an order for bankruptcy or winding up of the participant; (c) the passing of a resolution for voluntary winding up of the participant ”

“ A request under subsection (1) —
(a) shall specify the information or documents to be given; and (b) may specify a period, being a period that is reasonable in the circumstances, within which the information or documents shall be given. ”

“ Nothing in subsection (1) (c) , (e) or (f) empowers the Tribunal to require—
(a) the banker or financial adviser of an applicant to disclose any information relating to the affairs of any person other than the applicant; or (b) a solicitor or counsel to disclose any privileged communication, whether oral or written, made to or by him in that capacity. ”

“ A panel member may resign from office by giving notice in writing to the Chief Executive. A notice of resignation takes effect on the date specified in the notice or, if no date is specified, on the date of receipt by the Chief Executive of the notice. ”