TSANG YIU KAI AND OTHERS v. INSIDER DEALING TRIBUNAL

TSANG YIU KAI AND OTHERS v. INSIDER DEALING TRIBUNAL

Leave to appeal out of time was set aside because the application relied solely on a subsequent change in the law and no exceptional circumstances or substantial injustice were demonstrated; the need for finality and the principles in Hung Chan‑wa and Unger preclude reopening the concluded matter.

Source-derived case information.

Citation
TSANG YIU KAI AND OTHERS v. INSIDER DEALING TRIBUNAL
Parties
1st Appellant: Tsang Yiu Kai (Alan Tsang); 2nd Appellant: Sum Wai Ching Helena; 3rd Appellant: Tsang Yuen Mai Christina; Respondent: Insider Dealing Tribunal; 2nd Respondent: Financial Secretary
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
18 December 2007
Case Number
HCMP1322/2007
Procedural Posture
Appeal Pursuant to S.31 Securities (insider Dealing) Ordinance (cap. 395) — Application to Set Aside Leave to Appeal Out of Time / Court of Appeal Hearing on Application to Set Aside Leave; Reasons for Judgment
Outcome
Leave to appeal out of time revoked (set aside)
Legal Topics
Extension of Time, Leave to Appeal, Standard of Proof, Self Incrimination, Compellability, Finality of Judgment, Insider Dealing
Source Language
en
Criminal Law Procedural Law Securities Regulation Administrative Law Human Rights Extension of Time Leave to Appeal Standard of Proof +4 more

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Summary, issues, holding and outcome

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Parties

Tsang Yiu Kai (Alan Tsang)

1st Appellant

Sum Wai Ching Helena

2nd Appellant

Tsang Yuen Mai Christina

3rd Appellant

Insider Dealing Tribunal

Respondent

Financial Secretary

2nd Respondent

Procedural Posture

Appeal Pursuant to S.31 Securities (insider Dealing) Ordinance (cap. 395) — Application to Set Aside Leave to Appeal Out of Time / Court of Appeal Hearing on Application to Set Aside Leave; Reasons for Judgment

Legal Issues

  1. 1 Whether leave to appeal out of time should be set aside
  2. 2 Whether a subsequent change in the law (as in Koon Wing Yee/Hung Chan‑wa) alone justifies extension of time
  3. 3 Whether being part of the same inquiry constitutes an exceptional circumstance

Ratio Decidendi

Leave to appeal out of time was set aside because the application relied solely on a subsequent change in the law and no exceptional circumstances or substantial injustice were demonstrated; the need for finality and the principles in Hung Chan‑wa and Unger preclude reopening the concluded matter.

Court Disposition

Leave to appeal out of time revoked (set aside)

Orders

  • Leave to appeal out of time granted by Rogers VP on 16 July 2007 is set aside