Cap 588 s 49 Council to give notice to operator of listed entities to secure removal of relevant non-compliance (FINANCIAL REPORTING COUNCIL ORDINANCE)

Contents of Section

Chapter:	588	Title:	FINANCIAL REPORTING COUNCIL ORDINANCE	Gazette Number:	L.N. 104 of 2007
Section:	49	Heading:	Council to give notice to operator of listed entities to secure removal of relevant non-compliance	Version Date:	16/07/2007

Division 4—Council’s powers to secure removal of relevant non-compliance

(1) If, after the Council has taken into account a report prepared under section 47(1) or (2) for an enquiry concerning a relevant non-compliance in relation to a listed entity, it appears to the Council that there is or may be a question whether or not there is such a relevant non-compliance, the Council may give a written notice to the operator of the listed entity in accordance with subsection (2).
(2) The notice is to—

(a) indicate the respects in which it appears to the Council that such a question arises or may arise;

(b) specify—

(i) such manner of revising the relevant financial report of the listed entity as the Council thinks fit; or

(ii) such other remedial action concerning that report as the Council thinks fit; and

(i) give a satisfactory explanation of the relevant financial report of the entity;

(ii) cause that report to be revised in such manner as specified in the notice; or

(iii) take such other remedial action concerning that report as specified in the notice.

(3) In this section, “operator” (營辦人)—

(a) in relation to a listed corporation, means the directors of the corporation;

(b) in relation to a listed collective investment scheme, means the manager of the scheme.