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[接上页] (3) In the absence of evidence to the contrary, the Monetary Authority is deemed to have served on the Board a notice under subsection (2) if the notice has been left at the Board’s address in Hong Kong. (4) The Monetary Authority shall publish in the Gazette a copy of any notice served on the Board under subsection (2). (5) If a specified event has occurred in relation to a Scheme member, the Board may exempt in writing the Scheme member, in whole or in part as specified in the exemption, from section 15 and from rules made under section 51. (6) If a specified event has occurred in relation to a Scheme member by virtue of subsection (1)(a)(ii), the fact that— (a) in the case where subsection (2)(a)(i) applies in relation to the occurrence, the appointment of the Manager is reversed by the Chief Executive in Council under section 53(1)(i) of the Banking Ordinance (Cap 155) or is set aside by a court; or (b) in the case where subsection (2)(a)(ii) applies in relation to the occurrence, the order appointing the provisional liquidator is discharged,does not affect the operation of subsection (1)(a)(ii) in relation to the Scheme member. Cap 581 s 23 Monetary Authority to report to Chief Executive in Council on occurrence of specified event Remarks: not yet in operation (1) Subject to subsection (2), the Monetary Authority shall, as soon as practicable after a specified event has occurred, report the occurrence to the Chief Executive in Council. (2) If a specified event has occurred in relation to a Scheme member by virtue of section 22(1)(a)(ii), the Monetary Authority shall, before reporting the occurrence— (a) in the case where the Scheme member is incorporated in Hong Kong— (i) give the Scheme member not less than 7 days’ notice in writing (or such lesser period as is permitted under subsection (3)) informing the Scheme member of— (A) his decision under section 22(2) that compensation should be paid to the depositors of the Scheme member; and (B) the reasons for his decision; (ii) afford the Scheme member an opportunity to submit to him representations in writing on the decision and reasons within the period of the notice; and (iii) incorporate his decision, the reasons for his decision, and the Scheme member’s representations, if any, in his report to the Chief Executive in Council;(b) in the case where the Scheme member is incorporated outside Hong Kong— (i) give the Scheme member, at its principal place of business outside Hong Kong, not less than 7 days’ notice in writing (or such lesser period as is permitted under subsection (3)) informing the Scheme member of— (A) his decision under section 22(2) that compensation should be paid to the depositors of the Scheme member; and (B) the reasons for his decision;(ii) afford the Scheme member an opportunity to submit to him representations in writing on the decision and reasons within the period of the notice; and (iii) incorporate his decision, the reasons for his decision, and the Scheme member’s representations, if any, in his report to the Chief Executive in Council.(3) The Monetary Authority may give a Scheme member less than 7 days’ notice in writing referred to in subsection (2) if— (a) he has the consent of the Financial Secretary to do so; and (b) to do so is reasonable in the circumstances.(4) If a specified event has occurred in relation to a Scheme member by virtue of section 22(1)(a)(ii), the Chief Executive in Council shall, as soon as practicable after receipt of the Monetary Authority’s report on the occurrence, by notice in writing given to the Monetary Authority confirm or revoke the Monetary Authority’s decision under section 22(2) that compensation should be paid to the depositors of the Scheme member. (5) In determining whether to confirm or revoke under subsection (4) the Monetary Authority’s decision, the Chief Executive in Council shall have regard to— (a) the interests of the depositors of the Scheme member; (b) the general stability and effective working of the banking system in Hong Kong; and (c) such other factors as the Chief Executive in Council considers appropriate in the public interest. Cap 581 s 24 Specified event deemed never occurred under certain circumstances Remarks: not yet in operation (1) Subject to subsection (3), if— (a) a specified event has occurred in relation to a Scheme member by virtue of section 22(1)(a)(i); and (b) the winding-up order in respect of the Scheme member is set aside by a court,it is deemed, with effect on and after the date on which the setting aside takes effect, that the specified event never occurred. (2) Subject to subsection (3), if— (a) a specified event has occurred in relation to a Scheme member by virtue of section 22(1)(a)(ii); and (b) the Monetary Authority’s decision under section 22(2) that compensation should be paid to the depositors of the Scheme member— (i) is revoked by the Chief Executive in Council under section 23(4); or |