27 Nov 2002
SECURITIES AND FUTURES COMMISSION v. CHINA UNITED HOLDINGS LTD
- Citation
- SECURITIES AND FUTURES COMMISSION v. CHINA UNITED HOLDINGS LTD
- Court
- Court of First Instance
- Case number
- HCMA921/2002
The Court held that by execution of the securities settlement instructions and the transfer through the CCASS system the appellant (through its subsidiary) divested both legal and equitable interests in the 90 million GR shares by 9 March 2001, thereby triggering the five day statutory notification period under s7(1); failure to notify within that period constituted a breach and the convictions were upheld.