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Commodity Exchanges (Prohibition) Ordinance

Consolidated Text Cited in Versions 4 Related
Act NumberCap. 82
Year2019
Type of DocumentOrdinance

To prohibit the establishment of further commodity exchanges in Hong Kong.

1Short title

This Ordinance may be cited as the Commodity Exchanges (Prohibition) Ordinance.

2Interpretation

In this Ordinance, unless the context otherwise requires—

commodity ( 商品 ) means any goods specified in the Schedule ;

commodity exchange ( 商品交易所 ) means a market or exchange at or through which persons regularly offer commodities for sale or exchange.

3Application

This Ordinance applies to every commodity exchange other than—

  1. a market to which the Public Health and Municipal Services Ordinance (Cap. 132) applies; (Amended 10 of 1986 s. 32(1))
  2. a market established under the Agricultural Products (Marketing) Ordinance (Cap. 277);
  3. a market established under the Marine Fish (Marketing) Ordinance (Cap. 291);
  4. a commodity exchange which was in operation on 20 June 1973;
  5. a recognized futures market as defined in section 1 of Part 1 of Schedule 1 to the Securities and Futures Ordinance (Cap. 571); (Replaced 5 of 2002 s. 407)
  6. any activity which under section 19(9) of the Securities and Futures Ordinance (Cap. 571) shall not be regarded as contravening section 19(1)(b) of that Ordinance. (Added 5 of 2002 s. 407)
4Prohibition on establishment or operation of commodity exchange
  1. No person shall—
    1. establish or operate a commodity exchange to which this Ordinance applies; or
    2. knowingly assist in the operation of any such commodity exchange.
  2. Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine of $500,000 and, in the case of a continuing offence, to a further fine of $50,000 for each day during which the offence continues.
5Power of entry and search, etc.
  1. Any police officer not below the rank of superintendent may, without warrant and with the assistance of such other police officers as may be necessary—
    1. enter and search any premises in which he reasonably suspects that an offence against section 4 is being or has been committed; and
    2. remove and detain any equipment, books, records, accounts or other documents which he reasonably suspects to be...

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