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[接上页] (a) is from time to time assigned to the Scheme member by the Monetary Authority; and (b) reflects the Monetary Authority’s assessment of the Scheme member’s overall financial condition and of the quality of the Scheme member’s management;“Monetary Authority” (金融管理专员) means the Monetary Authority appointed under section 5A of the Exchange Fund Ordinance (Cap 66); “protected deposit” (受保障存款) means a deposit denominated in any currency and maintained with a Scheme member but does not include those specified in section 1 of Schedule 1; “provisional liquidator” (临时清盘人) means a provisional liquidator appointed under section 193, or appointed by virtue of section 194, of the Companies Ordinance (Cap 32); “related person” (有关连人士), in relation to the Board, means— (a) a person employed or authorized by the Board under this Ordinance; or (b) a person appointed as an agent or adviser of the Board under this Ordinance;“relevant deposit” (有关存款) means a deposit denominated in any currency and maintained with a Scheme member but does not include those specified in section 2 of Schedule 1; “Scheme” (存保计划) means the Deposit Protection Scheme established under section 11; “Scheme member” (计划成员) means a bank that is a member of the Scheme; “subsidiary” (附属公司) means a subsidiary within the meaning of section 2 of the Companies Ordinance (Cap 32); “Tribunal” (审裁处) means the Deposit Protection Appeals Tribunal established by section 40; “trustee” (受讬人) does not include a bare trustee; “US Treasury Bill” (美国国库券) means a security, with an original maturity of not more than 12 months, issued by the Department of Treasury of the United States of America. (2) In this Ordinance, a reference to the performance of a function includes the exercise of a power and the discharge of a duty. (3) If a deposit, or portion thereof, held by a depositor in a client account for a client is also held by the depositor as a trustee or bare trustee under a trust or bare trust, the deposit or portion is, for the purposes of this Ordinance, taken as being held by the depositor for the client and not as such trustee or bare trustee. (4) For the avoidance of doubt, any reference in this Ordinance to the commission of an offence by every director and every chief executive of a Scheme member or a bank (including any grammatical variations or cognate expressions of such reference) means that one or more than one of any such director and chief executive may be prosecuted for the offence. Cap 581 s 3 Establishment of Hong Kong Deposit Protection Board PART 2 HONG KONG DEPOSIT PROTECTION BOARD (1) There is established by this section a body corporate with the corporate name of “Hong Kong Deposit Protection Board” in English and “香港存款保障委员会” in Chinese. (2) The Board— (a) has perpetual succession under its corporate name; (b) shall provide itself with a common seal; and (c) is capable of suing and being sued in its corporate name.(3) The Board is not a servant or agent of the Government nor does it enjoy any status, immunity or privilege of the Government. Cap 581 s 4 Composition of Board (1) The Board is to consist of— (a) the Secretary for Financial Services and the Treasury, or a person appointed by the Secretary, in writing, as his representative, as an ex officio member; (b) the Monetary Authority, or a person appointed by the Authority, in writing, as his representative, as an ex officio member; and (c) not fewer than 4 and not more than 7 other members appointed by the Chief Executive from among persons who, either because of their experience in finance, accounting, banking, law, administration, information technology or consumer affairs, or because of their professional or occupational experience, appear to the Chief Executive to be suitable for the appointment.(2) The following are not eligible for appointment under subsection(1)(c)— (a) a public officer; (b) a person who is a director, or an employee, of— (i) an authorized institution; (ii) a holding company of an authorized institution; (iii) a subsidiary of such a holding company; or (iv) a subsidiary of an authorized institution.(3) The Chief Executive shall appoint one appointed member of the Board as Chairman of the Board. (4) The Chief Executive shall give notice of each appointment under subsection (1)(c) or (3) by notice published in the Gazette. (5) Schedule 2 has effect with respect to the Board. Cap 581 s 5 Functions of Board The Board has the following functions— (a) to establish and maintain the Scheme; (b) to manage and administer the Fund; (c) to assess and collect contributions and late payment fees; (d) to decide the entitlement of depositors and other persons to compensation under Division 2 of Part 5; (e) to pay compensation to depositors in accordance with this Ordinance; |