CLEARING AND SETTLEMENT SYSTEMS
ORDINANCE
Consequential Amendments
Electronic Transactions Ordinance
59. Proceedings in relation to which sections 5, 5A, 6, 7 and 8 of this Ordinance do not apply under section 13(1) of this Ordinance
Schedule 2 to the Electronic Transactions Ordinance (Cap. 553) is amended—
- (a) in paragraph (zn), by repealing “；或” and substituting a semicolon;
- (b) in paragraph (zo), by repealing the full stop and substituting a semicolon;
- (c) by adding—
- “(zp) the Clearing and Settlement Systems Appeals Tribunal established under the Clearing and Settlement Systems Ordinance (20 of 2004).”.
Provisions Relating to Clearing and Settlement Systems Appeals Tribunal
1. Interpretation
In this Schedule—
“panel member” (小組成員) means a member of the panel referred to in section 34(4) of this Ordinance;
“parties” (各方), in relation to a review of a decision of the Monetary Authority, means the applicant and the Monetary Authority;
“Tribunal member” (審裁處成員) means a member of the Tribunal appointed under section 34(2)(b) of this Ordinance.
2. Tenure of Chairman of the Tribunal
(1) The Chairman of the Tribunal shall be appointed for a term not exceeding 3 years.
(2) On the expiry of his period of appointment or reappointment, the Chairman of the Tribunal is eligible for reappointment for such further term as the Chief Executive may specify.
(3) The Chairman of the Tribunal may resign from office by giving notice in writing to the Chief Executive. A notice of resignation takes effect on the date specified in the notice or, if no date is specified, on the date of receipt by the Chief Executive of the notice.
(4) If the Chief Executive is satisfied that the Chairman of the Tribunal—
- (a) has become bankrupt;
- (b) is incapacitated by physical or mental illness; or
- (c) is otherwise unable or unfit to perform the functions of the Chairman of the Tribunal,
the Chief Executive may, after consultation with the Chief Justice, declare his office as Chairman of the Tribunal to be vacant, and shall notify the fact in such manner as the Chief Executive thinks fit; and upon such declaration the office becomes vacant.
