Clause 15

by inserting, immediately after the word “debentures” in the 2nd line, the words “, or units of shares or debentures, to the public”;

by deleting paragraph (ca) and substituting the following paragraph:“(ca)a person who is licensed as a dealer under the Securities Industry Act (Cap. 289), or a person exempted under that Act or any subsidiary legislation made thereunder from obtaining a dealer’s licence;”;

by deleting paragraph (f) and substituting the following paragraph: “(f)an investment company as defined in section 355(1), or any person exempted under the Securities Industry Act (Cap. 289) or any subsidiary legislation made thereunder from obtaining an investment adviser’s licence; and”; and

by inserting, immediately after the word “order” in paragraph (g), the words “published in the Gazette”.