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

29. Direction to cease to provide facilities or services in emergencies
(1) In addition to the powers of the Commission under section 28, the Commission may, after consultation with a recognized exchange company, by notice in writing served on the company, direct the company to cease to provide or operate such facilities or cease to provide such services as are specified in the notice for a period not exceeding 5 business days.
(2) The Commission may only serve a notice under subsection (1) if it is of the opinion that the orderly transaction of business on the stock market or futures market (as the case may be) is being, or is likely to be, impeded because—
(a) an emergency or natural disaster has occurred in Hong Kong; or
(b) there exists an economic or financial crisis, whether in Hong Kong or elsewhere, or any other circumstances, which is likely to prejudice orderly transaction of business on the stock market or futures market (as the case may be).
(3) The Commission may, by notice in writing served on the recognized exchange company, extend the direction under subsection (1) for further periods not exceeding 10 business days in all.
(4) A notice served under this section shall take effect immediately.

30. Contravention of notice constitutes offence
A person who, without reasonable excuse—
(a) provides or operates facilities; or
(b) provides services,
in contravention of a notice under section 28(1)(b) or 29(1) or (3) commits an offence and is liable—
(i) on conviction on indictment to a fine of $1,000,000 and to imprisonment for 2 years; or
(ii) on summary conviction to a fine at level 6 and to imprisonment for 6 months.

31. Prevention of entry into closed trading markets
(1) The Commission may take all necessary steps to ensure compliance with a notice under section 28(1)(b) or 29(1) or (3) and may, in particular, secure—
(a) the facilities to which the notice relates; or
(b) the premises on which such facilities are kept or the premises on which the services to which the notice relates are provided,
against use for dealings in securities or futures contracts or other purposes.
(2) A person commits an offence and is liable on conviction to a fine at level 5 if, without the authority of the Commission or reasonable excuse, he—
(a) makes use of any facilities or services to which the notice under section 28(1)(b) or 29(1) or (3) relates; or
(b) enters the premises on which such facilities are kept or the premises on which such services are provided.

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

32. Publication of directions
Where the Commission—
(a) directs a recognized exchange company under section 28(1)(b) or 29(1) to cease to provide or operate any facilities or cease to provide any services; or
(b) extends under section 29(3) a direction referred to in that section,
it shall cause notice of the particulars of the direction or extension (as the case may be) to be published in the Gazette.

33. Appeals
(1) A company served with a notice under section 28(1) or 29(1) or (3) may appeal against the notice to the Chief Executive in Council not later than 14 days after the date of service of the notice or such longer period (if any) as the Commission specifies in the notice.
(2) The decision of the Chief Executive in Council on an appeal under subsection (1) shall be final.

34. Restriction on use of titles relating to exchanges, markets, etc.
(1) A person commits an offence if he, without the authority of the Commission or reasonable excuse, takes or uses the title—
(a) “stock exchange”;
(b) “stock market”;
(c) “commodity exchange”;
(d) “futures exchange”;
(e) “futures market”;
(f) “unified exchange”;
(g) “united exchange”;
(h) “證券交易所”;
(i) “股票交易所”;
(j) “證券市場”;
(k) “股票市場”;
(l) “商品交易所”;
(m) “期貨交易所”;
(n) “期貨市場”;
(o) “聯合交易所”,
or anything which closely resembles any such title.
(2) A person who commits an offence under this section is liable—
(a) on conviction on indictment to a fine of $200,000 and to imprisonment for 2 years; or
(b) on summary conviction to a fine at level 5 and to imprisonment for 6 months.

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

35. Contract limits and reportable open position
(1) Without prejudice to section 398(7) and (8), the Commission may make rules to—
(a) prescribe limits on, or conditions relating to, the number of futures contracts which may be held or controlled, directly or indirectly, by any person, whether or not such contracts are traded on a recognized futures market or through the facilities of a recognized exchange company;
(b) prescribe limits on, or conditions relating to, the number of options contracts which may be held or controlled, directly or indirectly, by any person, whether or not such contracts are traded on a recognized stock market or recognized futures market or through the facilities of a recognized exchange company;
(c) require a person holding or controlling a reportable position to lodge a notice of that reportable position with a recognized exchange company or the Commission;
(d) prescribe the manner in which and the period within which a notice of a reportable position is to be lodged;
(e) prescribe the information by which a notice of a reportable position is to be accompanied.
(2) The Commission shall consult the Financial Secretary before making rules under subsection (1)(e).
(3) Subsection (1) does not prohibit the Commission from prescribing different limits or conditions, or different reportable positions, for different types or classes of futures or options contracts, or from exempting specified futures or options contracts.
(4) Without limiting the generality of subsection (1) and without prejudice to section 398(7) and (8), the Commission may make rules for the purposes of this section to prohibit a person from—
(a) directly or indirectly entering, during a specified period, into transactions of a specified class in excess of a specified amount; or
(b) directly or indirectly holding or controlling positions of a specified class in excess of a specified position limit.
(5) Rules made under this section may provide that a person who, without reasonable excuse, contravenes any specified provision of the rules that applies to the person commits an offence and is liable to a specified penalty not exceeding—
(a) on conviction on indictment a fine at level 6 and a term of imprisonment of 2 years;
(b) on summary conviction a fine at level 3 and a term of imprisonment of 6 months.
(6) In this section reportable position (須申報的持倉量) means an open position in futures or options contracts the number or total value of which is in excess of a number or total value specified by rules made under this section.