Commodity Exchanges (Prohibition) Ordinance
| Act Number | Cap. 82 |
| Year | 2019 |
| Type of Document | Ordinance |
To prohibit the establishment of further commodity exchanges in Hong Kong.
This Ordinance may be cited as the Commodity Exchanges (Prohibition) Ordinance.
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.
This Ordinance applies to every commodity exchange other than—
- a market to which the Public Health and Municipal Services Ordinance (Cap. 132) applies; (Amended 10 of 1986 s. 32(1))
- a market established under the Agricultural Products (Marketing) Ordinance (Cap. 277);
- a market established under the Marine Fish (Marketing) Ordinance (Cap. 291);
- a commodity exchange which was in operation on 20 June 1973;
- 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)
- 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)
- No person shall—
- establish or operate a commodity exchange to which this Ordinance applies; or
- knowingly assist in the operation of any such commodity exchange.
- 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.
- 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—
- enter and search any premises in which he reasonably suspects that an offence against section 4 is being or has been...
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