【法规名称】
【法规编号】 82385 什么是编号？
【正 文】
CAP 571AI SECURITIES AND FUTURES (INSURANCE) RULES
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(Cap 571, section 116(5)) [1 April 2003] L.N. 12 of 2003 (L.N. 11 of 2003) Cap 571AI s 1 (Omitted as spent) (Omitted as spent) Cap 571AI s 2 Interpretation (1) In these Rules, unless the context otherwise requires- "dealing in futures contracts" (期货合约交易) has the meaning assigned to it by Part 2 of Schedule 5 to the Ordinance; "dealing in securities" (证券交易) has the meaning assigned to it by Part 2 of Schedule 5 to the Ordinance; "insurer" (保险人) means a person- (a) carrying on insurance business in or from Hong Kong in compliance with section 6(1) of the Insurance Companies Ordinance (Cap 41); or (b) carrying on insurance business in or from any place outside Hong Kong under the law of that place;"period of insurance" (保险期) means a period covered by a policy of insurance approved by the Commission under section 5(1) or (2)(a) or (b); "specified amount" (指明款额) means the insured amount (if any) specified in Schedule 2 per period of insurance; "specified credit rating" (指明信贷评级) means any one of the credit ratings specified in Schedule 3; "specified licensed corporation" (指明持牌法团) means a corporation to which these Rules apply by virtue of section 3; "specified risks" (指明风险) means the risks specified in Schedule 1. (2) In these Rules, a reference to a deductible amount, in relation to a policy of insurance, means the amount of any loss or claim that an insured must himself bear under that policy and the insurer's liability will only arise when the insured's loss or claim exceeds such amount. Cap 571AI s 3 Application These Rules apply to a corporation that is granted a licence under section 116(1) of the Ordinance to carry on any regulated activity other than such a corporation that- (a) is not an exchange participant of the Stock Exchange Company or of the Futures Exchange Company; and (b) is granted a licence under section 116(1) of the Ordinance to carry on any regulated activity subject to a condition that the corporation shall not hold client assets. Cap 571AI s 4 Duty of specified licensed corporations to take out and maintain insurance (1) Where the Commission has approved a master policy of insurance under section 5(1) in respect of a period of insurance for a regulated activity, a specified licensed corporation licensed for that regulated activity shall take out and maintain insurance for that regulated activity in relation to the specified risks for not less than the specified amount during that period of insurance under- (a) that master policy of insurance approved by the Commission; or (b) any other policy of insurance with one or more insurer that- (i) is not a related corporation of the specified licensed corporation; and (ii) has a specified credit rating on the date of commencement of the policy of insurance.(2) Where the Commission has approved a master policy of insurance under section 5(2)(a) in respect of a period of insurance for the regulated activity of dealing in securities, a specified licensed corporation that is an exchange participant of the Stock Exchange Company licensed for that regulated activity shall, in addition to an insurance (if any) that it is required to take out and maintain under other provisions of this section, take out and maintain insurance for that regulated activity in relation to the specified risks for not less than the specified amount during that period of insurance under that master policy of insurance. (3) Where the Commission has approved a master policy of insurance under section 5(2)(b) in respect of a period of insurance for the regulated activity of dealing in futures contracts, a specified licensed corporation that is an exchange participant of the Futures Exchange Company licensed for that regulated activity shall, in addition to an insurance (if any) that it is required to take out and maintain under other provisions of this section, take out and maintain insurance for that regulated activity in relation to the specified risks for not less than the specified amount during that period of insurance under that master policy of insurance. (4) Each master policy of insurance approved by the Commission under section 5 and the policy of insurance referred to in subsection (1)(b) may specify a deductible amount not exceeding $3000000. (5) For the avoidance of doubt, a specified licensed corporation shall not be required to take out and maintain insurance in relation to a regulated activity under subsection (1) where that specified licensed corporation is required to take out and maintain insurance for that regulated activity under subsection (2) or (3). Cap 571AI s 5 Commission may approve master policy of insurance (1) With the exception of the policies of insurance that may be approved under subsection (2), the Commission may, in respect of any period of insurance, approve one policy of insurance in respect of a regulated activity to be the master policy of insurance for all specified licensed corporations licensed for that regulated activity. |
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