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

252A. Consent of Secretary for Justice for market misconduct proceedings
(1) The Commission must not institute proceedings under section 252 unless it has obtained the consent of the Secretary for Justice.
(2) The Secretary for Justice may withhold the giving of consent under subsection (1) to proceedings under section 252 in respect of any conduct only if and so long as—
(a) proceedings for an offence under Part XIV are contemplated in respect of the same conduct; or
(b) proceedings for an indictable offence (other than an offence under Part XIV) are contemplated, or have been instituted, in respect of the same conduct and the institution of proceedings under section 252 would be likely to cause serious prejudice to the investigation or prosecution of that offence.
(3) To avoid doubt, the consent of the Secretary for Justice under subsection (1) does not preclude proceedings for any offence (other than an offence under Part XIV) in respect of the same conduct.
(4) Nothing in this section derogates from the powers of the Secretary for Justice in respect of the prosecution of criminal offences.
(Added 9 of 2012 s. 21)

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

256. Privileged information
Nothing in this Part and Schedule 9 requires an authorized financial institution, acting as the banker or financial adviser of a person whose conduct is the subject, whether wholly or in part, of any proceedings instituted under section 252, to disclose information as to the affairs of any of its customers other than that person.

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

260. Costs
(1) Subject to subsection (4), at the conclusion of any proceedings instituted under section 252 or as soon as reasonably practicable after the conclusion of the proceedings, the Tribunal may by order award to—
(a) any person whose attendance, whether as a witness or otherwise, has been necessary or required for the purposes of the proceedings;
(b) any person whose conduct is the subject, whether wholly or in part, of the proceedings,

such sum as it considers appropriate in respect of the costs reasonably incurred by the person in relation to 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 269, 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 by virtue of section 252(4)(a), (b) or (c) been identified as having engaged in market misconduct pursuant to section 252(3)(b);
(b) a person whose conduct the Tribunal considers has caused, whether wholly or in part, the Tribunal to investigate or consider his conduct during the course of the proceedings in question;
(c) a person whom the Tribunal considers has by his conduct caused, whether wholly or in part, the institution of the proceedings.
(Amended E.R. 2 of 2012)

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

261. Contempt dealt with by Tribunal
(1) The Tribunal shall have the same powers as the Court of First Instance to punish for contempt.
(2) Without limiting the generality of the powers of the Tribunal under subsection (1), the Tribunal shall have the same powers as the Court of First Instance to punish for contempt, as if it were contempt of court, a person who—
(a) without reasonable excuse, commits any conduct falling within the description of section 253(2)(a), (b), (c), (d), (e) or (f); or (Amended 9 of 2012 s. 23)
(b) commits any conduct falling within the description of section 254(6)(a), (b), (c) or (d). (Amended 9 of 2012 s. 23)
(c) (Repealed 9 of 2012 s. 23)(3) The Tribunal shall, in the exercise of its powers to punish for contempt under this section, adopt the same standard of proof as the Court of First Instance in the exercise of the same powers to punish for contempt.
(4) Notwithstanding anything in this section and any other provisions of this Ordinance—
(a) no power may be exercised under or pursuant to this section to determine whether to punish any person for contempt in respect of any conduct if—
(i) criminal proceedings have previously been instituted against the person under section 253(2) or 254(6) in respect of the same conduct; and (Amended 9 of 2012 s. 23)
(ii) (A) those criminal proceedings remain pending; or
(B) by reason of the previous institution of those criminal proceedings, no criminal proceedings may again be lawfully instituted against that person under such section in respect of the same conduct;
(b) no criminal proceedings may be instituted against any person under section 253(2) or 254(6) in respect of any conduct if— (Amended 9 of 2012 s. 23)
(i) any power has previously been exercised under or pursuant to this section to determine whether to punish the person for contempt in respect of the same conduct; and
(ii) (A) proceedings arising from the exercise of such power remain pending; or
(B) by reason of the previous exercise of such power, no power may again be lawfully exercised under or pursuant to this section to determine whether to punish the person for contempt in respect of the same conduct.

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

262. Report of Tribunal
(1) The Tribunal shall, after the conduct of any proceedings instituted under section 252, prepare a written report in respect of the proceedings, which shall contain—
(a) any of its determinations made pursuant to section 252(3) and any order made under section 257 or 258, and the reasons for making such determinations and order; and
(b) any order made under section 259 or 260, and the reasons for making such order.
(2) The Tribunal shall issue the report prepared under subsection (1)—
(a) by giving a copy of the report to the Commission; and (Replaced 9 of 2012 s. 24)
(b) except where the Tribunal sat in private for the whole or any part of its proceedings, by— (Amended 9 of 2012 s. 24)
(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; and (Amended 9 of 2012 s. 24)
(iii)-(iv) (Repealed 9 of 2012 s. 24)
(v) where the Tribunal considers appropriate, giving a copy of the report to any body which may take disciplinary action against the person identified as having engaged in market misconduct pursuant to section 252(3)(b), as one of its members or regulatees. (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 it directs. (Amended 9 of 2012 s. 24)
(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).

263. Form and proof of orders of Tribunal
(1) An order made by the Tribunal shall be recorded in writing and signed by the chairman of the Tribunal.
(2) A document purporting to be an order of the Tribunal and to be signed by the chairman of the Tribunal shall, in the absence of proof to the contrary, be regarded as an order of the Tribunal duly made, without proof of its making, or proof of signature, or proof that the person signing the order was in fact the chairman.