The unsteady hydromagnetic flow due to torsional oscillations of a rotating disc in a viscous incompressible electrically conducting fluid which is also rotating is studied taking the effects of the Hall current and ion-slip into consideration. The governing equations are solved analytically. The results show that the inclusion of the Hall current and ion slip have important effects on the velocity distributions as well as shear stresses at the disc. The flow is characterized by two opposite circularly polarized waves, travelling with different velocities. It is found that there is a formation of two-deck boundary layers, thicknesses of which increase with increase in either Hall parameter or ion-slip parameter. The radial velocity increases with an increase in Hall parameter and the azimuthal velocity increases with an increase in either Hall parameter or ion-slip parameter. Further, it is found that the amplitude of the transverse shear stress at the disc decreases with an increase in either Hall parameter or ion-slip parameter.