Clause 2

by deleting the word “or” at the end of paragraph (v) of the definition of “investment adviser”;

by inserting, immediately after paragraph (vi) of the definition of “investment adviser”, the following paragraphs:“(vii)a person who owns, operates or provides an information service through an electronic, broadcasting or telecommunications medium, where —

the service is generally available to the public;

any advice given or analysis or report issued or promulgated is given, issued or promulgated only through that service;

that person receives no commission or other consideration for giving the advice or for issuing or promulgating the analyses or reports; and

the advice is given and the analyses and reports are issued or promulgated solely as incidental to that person’s ownership, operation or provision of that service; or

a person who provides credit rating services, where any analysis or report issued or promulgated by that person —

is issued or promulgated solely as incidental to the conduct of that person’s business of providing credit rating services; and

does not contain any specific recommendation with respect to the acquiring of, disposing of, subscribing for, or underwriting of, any securities.”;

by inserting, immediately after the word “means” in the definition of “member company”, the words “, except for the purposes of Part VIII,”;

by inserting, immediately after the definition of “member company”, the following definition:“ “newspaper” has the same meaning as in the Newspaper and Printing Presses Act (Cap. 206);”;

by deleting the definition of “stockbroker”; and

by deleting paragraph (c) of the definition of “stock market” and substituting the following paragraph:“(c)information is regularly provided concerning the prices at which, or the consideration for which, particular persons, or particular classes of persons propose, or may reasonably be expected, to sell, purchase or exchange securities,but excludes an electronic facility which merely provides price or other information on the sale, purchase or exchange of securities (whether or not the facility is part of or operated in conjunction with the provision of any other information not related to the sale, purchase or exchange of securities) and which does not permit users of the facility to channel orders for, execute transactions in, or make a market in, securities;”.