||Title:||COMMODITIES TRADING ORDINANCE||Gazette Number:|
|Section:||21||Heading:||Closure of the Commodity Exchange in an emergency||Version Date:||30/06/1997|
Caution : This is a past version. See the current version for the latest position.
(1) The Commission, after consultation with the Exchange Company, may direct the Exchange Company that the Commodity Exchange be closed for a period not exceeding 5 bank working days for the transaction of any trading in commodity futures contracts specified in the direction if the Commission is of the opinion that the orderly transaction of such trading is being or is likely to be prevented because-
(2) The Commission may extend the closure of the Commodity Exchange under subsection (1) for further periods not exceeding 5 bank working days.
(a) an emergency or natural disaster has occurred in Hong Kong;or
(b) there exists an economic or financial crisis or any other circumstance, whether in Hong Kong or elsewhere.
(3) The Commission shall specify the grounds for closure in the direction given under subsection (1) and the grounds for any extension of the closure under subsection (2).
(Amended 10 of 1989 s. 65)