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(Cap 571, section 394) [1 April 2003] L.N. 12 of 2003 (L.N. 221 of 2002) Cap 571Z s 1 (Omitted as spent) PART 1 PRELIMINARY (Omitted as spent) Cap 571Z s 2 Interpretation In this Order, unless the context otherwise requires- "currency futures contract" (货币期货合约) means a futures contract in respect of any currency; "exchange traded fund" (交易所买卖基金) means a collective investment scheme that- (a) holds portfolios of securities; (b) is designed generally to correspond to the price and yield performance of the underlying portfolios of securities with in kind creation and redemption facilities; and (c) is listed or traded on a recognized stock market operated by the Stock Exchange Company as a single security;"exchange traded funds market maker" (交易所买卖基金庄家) means any person who is registered as an exchange traded funds market maker by the Stock Exchange Company in accordance with the rules of the Stock Exchange Company; "Mini-Hang Seng Index Futures Contract" (小型恒生指数期货合约) means a futures contract entitled "Mini-Hang Seng Index Futures Contract" for which the contract specifications are set out in the rules of the Futures Exchange Company; "Mini-Hang Seng Index Options Contract" (小型恒生指数期权合约) means a futures contract entitled "Mini-Hang Seng Index Options Contract" for which the contract specifications are set out in the rules of the Futures Exchange Company; "new futures contract" (新期货合约) means a futures contract that- (a) has been approved by the Commission for the purposes of section 20(2)(a) of the Ordinance; and (b) has not been traded on a recognized futures market operated by the Futures Exchange Company prior to the commencement of this Order;"pilot programme" (试验计划) has the meaning assigned to it by the rules of the Stock Exchange Company; "pilot programme market maker" (试验计划庄家) has the meaning assigned to it by the rules of the Stock Exchange Company; "pilot programme securities" (试验计划证券) means securities that are traded on a recognized stock market operated by the Stock Exchange Company under the pilot programme; "relevant period" (有关期间), in relation to a new futures contract, means the period of 6 months commencing on the first day of trading in the contract on a recognized futures market operated by the Futures Exchange Company; "stock futures contract" (股票期货合约) means a futures contract entitled "Stock Futures Contract" for which the contract specifications are set out in the rules of the Futures Exchange Company. Cap 571Z s 3 Application of Part 2 PART 2 LEVY PAYABLE IN RESPECT OF SALE AND PURCHASE OF SECURITIES DESCRIBED IN SECTION 394(1)(a) OF ORDINANCE This Part does not apply in relation to a sale and purchase of securities unless it is recorded on a recognized stock market or notified to a recognized exchange company under its rules. Cap 571Z s 4 Securities Subject to sections 5, 6 and 7, for the purposes of section 394(1)(a) of the Ordinance, the levy payable for a sale and purchase of securities- (a) is payable by the seller and purchaser; and (b) is- (i) in the case of the seller, 0.005% of the consideration for the sale; or (ii) in the case of the purchaser, 0.005% of the consideration for the purchase. Cap 571Z s 5 Stock options For the purposes of section 394(1)(a) of the Ordinance, the levy payable for a sale and purchase of a stock option- (a) is payable by the seller and purchaser; and (b) is- (i) in the case of the seller, 0% of the consideration for the sale; or (ii) in the case of the purchaser, 0% of the consideration for the purchase. Cap 571Z s 6 Pilot programme securities For the purposes of section 394(1)(a) of the Ordinance, the levy payable for a sale and purchase of pilot programme securities- (a) is payable by the seller and purchaser; and (b) is- (i) in the case of the seller- (A) subject to sub-subparagraph (B), 0.005% of the consideration for the sale; (B) where the seller is a pilot programme market maker, 0% of the consideration for the sale; or(ii) in the case of the purchaser- (A) subject to sub-subparagraph (B), 0.005% of the consideration for the purchase; (B) where the purchaser is a pilot programme market maker, 0% of the consideration for the purchase. Cap 571Z s 7 Exchange traded funds For the purposes of section 394(1)(a) of the Ordinance, the levy payable for a sale and purchase of an exchange traded fund- (a) is payable by the seller and purchaser; and (b) is- (i) in the case of the seller- (A) subject to sub-subparagraph (B), 0.005% of the consideration for the sale; (B) where the seller is an exchange traded funds market maker, 0% of the consideration for the sale; or(ii) in the case of the purchaser- (A) subject to sub-subparagraph (B), 0.005% of the consideration for the purchase; (B) where the purchaser is an exchange traded funds market maker, 0% of the consideration for the purchase. Cap 571Z s 8 Application of Part 3 PART 3 LEVY PAYABLE IN RESPECT OF SALE AND PURCHASE OF FUTURES CONTRACTS DESCRIBED IN SECTION 394(1)(b) OF ORDINANCE This Part does not apply in relation to a sale and purchase of a futures contract unless it is traded on a recognized futures market. Cap 571Z s 9 Futures contracts Subject to sections 10, 11, 12 and 13, for the purposes of section 394(1)(b) of the Ordinance, the levy payable for a sale and purchase of a futures contract- (a) is payable by the seller and purchaser; and (b) is- (i) in the case of the seller, $1.00; or (ii) in the case of the purchaser, $1.00. Cap 571Z s 10 Mini-Hang Seng Index Futures Contracts and Mini-Hang Seng Index Options Contracts For the purposes of section 394(1)(b) of the Ordinance, the levy payable for a sale and purchase of a Mini-Hang Seng Index Futures Contract or a Mini-Hang Seng Index Options Contract- (a) is payable by the seller and purchaser; and (b) is- (i) in the case of the seller, $0.20; or (ii) in the case of the purchaser, $0.20. Cap 571Z s 11 Currency futures contracts For the purposes of section 394(1)(b) of the Ordinance, the levy payable for a sale and purchase of a currency futures contract- (a) is payable by the seller and purchaser; and (b) is- (i) in the case of the seller, nil; or (ii) in the case of the purchaser, nil. Cap 571Z s 12 New futures contracts For the purposes of section 394(1)(b) of the Ordinance, the levy payable for a sale and purchase of a new futures contract during the relevant period of the contract- (a) is payable by the seller and purchaser; and (b) is- (i) in the case of the seller, nil; or (ii) in the case of the purchaser, nil. Cap 571Z s 13 Stock futures contracts For the purposes of section 394(1)(b) of the Ordinance, the levy payable for a sale and purchase of a stock futures contract or an option on such a contract- (a) is payable by the seller and purchaser; and (b) is- (i) in the case of the seller, $0.20; or (ii) in the case of the purchaser, $0.20.