### Securities and Futures Ordinance 《證券及期貨條例》

307O. Notice and effect of orders of Tribunal
(1) The Tribunal must by notice in writing notify a person of an order made in respect of the person under section 307N(1).
(2) The order takes effect at the time when it is notified to the person or at the time specified in the notice, whichever is the later.
(3) If the Tribunal makes an order under section 307N(1)(b), the Commission may notify any licensed person or registered institution of the order in any manner the Commission considers appropriate.
(4) A person who fails to comply with an order made under section 307N(1)(a), (b) or (c) commits an offence and is liable—
(a) on conviction on indictment to a fine of $1,000,000 and to imprisonment for 2 years; or
(b) on summary conviction to a fine at level 6 and to imprisonment for 6 months.

307P. Costs
(1) Subject to subsection (4), at the conclusion of any disclosure proceedings, or as soon as reasonably practicable after the conclusion of the proceedings, the Tribunal may by order award to any of the following persons a sum it considers appropriate in respect of the costs reasonably incurred by the person in relation to the proceedings—
(a) a person whose attendance, whether as a witness or otherwise, has been necessary or required for the purposes of the proceedings;
(b) a person whose conduct is the subject, whether wholly or in part, of the proceedings.
(2) Any costs awarded under this section are a charge on the general revenue.
(3) Subject to any rules made by the Chief Justice under section 307X, Order 62 of the Rules of the High Court (Cap. 4 sub. leg. A) applies to the award of costs, and to the taxation of any costs awarded, by the Tribunal under this section.
(4) Subsection (1)(a) and (b) does not apply to—
(a) a person who has been identified under section 307J(1)(b) as being in breach of a disclosure requirement;
(b) a person whose conduct the Tribunal considers has caused, whether wholly or in part, the Tribunal to investigate or consider the person’s conduct during the course of the disclosure proceedings; or
(c) a person whom the Tribunal considers has by the person’s conduct caused, whether wholly or in part, the institution of the disclosure proceedings.

### Securities and Futures Ordinance 《證券及期貨條例》

307Q. Report of Tribunal
(1) After the conduct of any disclosure proceedings, the Tribunal must prepare a written report of the proceedings, which must contain—
(a) any determinations under section 307J(1) and orders under section 307N, and the reasons for making the determinations and orders; and
(b) any order under section 307P and the reasons for making the order.
(2) The Tribunal must issue the report prepared under subsection (1)—
(a) by giving a copy of the report to the Commission; and
(b) except where the Tribunal sat in private for the whole or any part of its proceedings, by—
(i) publishing the report so that copies of the report are available to the public;
(ii) giving a copy of the report, so far as reasonably practicable, to any person whose conduct was directly in question in the proceedings;
(iii) where the Tribunal considers appropriate, giving a copy of the report to any body which may take disciplinary action against a person who is a member or regulatee of the body and who is identified under section 307J(1)(b) as being in breach of a disclosure requirement. (Amended L.N. 66 of 2022)
(3) Where the Tribunal sat in private for the whole or any part of its proceedings, the Commission may, if the Commission is of the opinion that it is in the public interest to do so, cause the whole or any part of the report to be made available to the public or to a particular person or body in the manner the Commission directs.
(4) A person is not liable to civil or criminal proceedings for publishing a true and accurate account or a fair and accurate summary of a report of the Tribunal issued or made available under subsection (2)(b) or (3).

307R. Form and proof of orders of Tribunal
Section 263 applies to an order of the Tribunal in disclosure proceedings.

307S. Registration and filing of orders of Tribunal
(1) Section 264(1) applies to an order of the Tribunal in disclosure proceedings.
(2) The Tribunal must file an order made under section 307N(1)(a) with the Registrar of Companies as soon as reasonably practicable after it is made.

307T. Stay of execution of orders of Tribunal
On application by a person in respect of whom an order has been made under section 307N or 307P, the Tribunal may by order grant a stay of execution of the order, subject to any conditions as to costs, payment of money into the Tribunal or otherwise, as the Tribunal considers appropriate.

### Securities and Futures Ordinance 《證券及期貨條例》

307U. Appeal to Court of Appeal
(1) If the Tribunal has made any finding or determination for the purposes of any disclosure proceedings and the Commission, or a person identified under section 307J(1)(b) as being in breach of a disclosure requirement, is dissatisfied with the finding or determination, the Commission or the person may, after the Tribunal has made orders (if any) under section 307N or 307P for the purposes of the proceedings, appeal to the Court of Appeal against the finding or determination—
(a) on a point of law; or
(b) with the leave of the Court of Appeal, on a question of fact.
(2) A person in respect of whom an order has been made under section 307N or 307P may appeal to the Court of Appeal against the order.