【法规名称】
【法规编号】 82439 什么是编号？
【正 文】
第2页 CAP 571H SECURITIES AND FUTURES (CLIENT SECURITIES) RULES
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[接上页] Cap 571H s 5 Requirement for deposit or registration of client securities and securities collateral PART 2 TREATMENT OF CLIENT SECURITIES AND SECURITIES COLLATERAL Division 1-General rules (1) Subject to section 6, an intermediary or an associated entity of an intermediary which receives any client securities of the intermediary shall ensure that, as soon as reasonably practicable, the client securities are- (a) deposited in safe custody in a segregated account which is designated as a trust account or client account and established and maintained in Hong Kong by the intermediary or associated entity for the purpose of holding client securities of the intermediary with- (i) an authorized financial institution; (ii) an approved custodian; or (iii) another intermediary licensed for dealing in securities; or(b) registered in the name of- (i) the client on whose behalf the client securities have been received; or (ii) the associated entity.(2) Subject to section 6, an intermediary or an associated entity of an intermediary which receives any securities collateral of the intermediary shall ensure that, as soon as reasonably practicable, the securities collateral is- (a) deposited in safe custody in a segregated account which is designated as a trust account or client account and established and maintained in Hong Kong by the intermediary or associated entity for the purpose of holding securities collateral of the intermediary with- (i) an authorized financial institution; (ii) an approved custodian; or (iii) another intermediary licensed for dealing in securities;(b) deposited in an account in the name of the intermediary or associated entity (as the case may be) with- (i) an authorized financial institution; (ii) an approved custodian; or (iii) another intermediary licensed for dealing in securities; or(c) registered in the name of- (i) the client on whose behalf the securities collateral has been received; (ii) the intermediary; or (iii) the associated entity. Cap 571H s 6 Dealings with client securities and securities collateral (1) An intermediary or an associated entity of an intermediary may deal with client securities or securities collateral of the intermediary that it receives or holds in accordance with- (a) an oral or written direction- (i) to sell the client securities or securities collateral; or (ii) to settle such a sale order;(b) a written direction to withdraw the client securities or securities collateral from an account referred to in section 5(1)(a) or (2)(a) or (b) or to deal with client securities or securities collateral that have been registered in accordance with section 5(1)(b) or (2)(c); or (c) a standing authority, except where this would- (i) subject to subsection (2) or section 7, 8 or 9, result in a transfer of the client securities or securities collateral to an account in Hong Kong of- (A) the intermediary; (B) the associated entity; or (C) any corporation with which the intermediary is in a controlling entity relationship or in relation to which the associated entity is a linked corporation, other than an account referred to in section 5(1)(a) or (2)(a) or (b), or otherwise result in a person referred to in sub-subparagraph (A), (B) or (C) having the benefit or use of the client securities or securities collateral;(ii) result in a transfer of the client securities or securities collateral to any officer or employee of- (A) the intermediary; (B) the associated entity; or (C) any corporation with which the intermediary is in a controlling entity relationship or in relation to which the associated entity is a linked corporation, unless that officer or employee is the client in question; or(iii) be unconscionable.(2) Without prejudice to subsection (1)(a), with an agreement in writing with the client on whose behalf client securities have been received or are held, an intermediary licensed or registered for asset management may withdraw any of the client securities from an account referred to in section 5(1)(a) or deal with client securities that have been registered in accordance with section 5(1)(b)- (a) to sell them; or (b) to settle a sale order,on behalf of the client. (3) Without prejudice to subsections (1) and (2), with an agreement in writing with the client on whose behalf client securities or securities collateral have been received or are held, an intermediary may- (a) dispose; or (b) initiate a disposal by an associated entity of the intermediary,of any of the client securities or securities collateral in settlement of any liability owed by or on behalf of the client to- (c) the intermediary; (d) the associated entity; or (e) a third person.(4) In subsection (1), a direction is a direction from a client that- (a) relates to specified client securities or securities collateral; (b) is given to the intermediary or associated entity in question by the client of the intermediary on whose behalf the client securities or securities collateral were received or are being held; |
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