| (Cap 571, sections 145 and 397) [1 April 2003] L.N. 12 of 2003 (L.N. 209 of 2002) Cap 571N s 1 (Omitted as spent) PART 1 PRELIMINARY (Omitted as spent) Cap 571N s 2 Interpretation (1) In these Rules, unless the context otherwise requires- "adjusted liabilities" (经调整负债), for the purpose of calculating the variable required liquid capital in relation to a licensed corporation, means the sum of its on-balance sheet liabilities including provisions made for liabilities already incurred or for contingent liabilities, but excluding- (a) amounts payable to clients in respect of- (i) client money held by it in a segregated account in accordance with the Securities and Futures (Client Money) Rules (Cap 571 sub. leg. I); (ii) to the extent not covered in subparagraph (i), client money held by it in a segregated account with an authorized financial institution; (iii) client money held by it in a segregated account with an approved bank incorporated outside Hong Kong; (iv) client money held by it in a segregated account with a futures or options clearing house; or (v) client money held by it with- (A) a clearing house other than a futures or options clearing house; (B) a clearing participant; (C) a futures dealer; or (D) a securities dealer, as margin in respect of outstanding futures contracts and outstanding options contracts held by it on behalf of its clients; and(b) an approved subordinated loan provided to it;"aggregate gross foreign currency position" (合计外币总持仓量) means the aggregate of all the gross foreign currency positions held by a licensed corporation licensed for Type 3 regulated activity, excluding positions held with a recognized counterparty; "amount of margin required to be deposited" (按规定须存放的保证金数额) means the amount of money required to be deposited as margin (whether the requirement is met by depositing the amount of money or by the provision of security instead of making such deposit)- (a) upon opening a position; or (b) for maintaining an existing position,in a futures contract or an options contract, calculated as the highest of the prevailing margin amounts set by- (c) the exchange on which the futures contract or options contract is traded; (d) the clearing house who registers such trade; (e) the agent who executes such trade for the licensed corporation; (f) the counterparty who executes such trade with the licensed corporation; and (g) the licensed corporation itself;"approved bank incorporated outside Hong Kong" (核准的在香港以外成立为法团的银行) means- (a) a bank incorporated under the law or other authority of a prescribed country, and includes any of its branches or wholly owned subsidiaries which is a bank; or (b) any other bank approved as such under section 58(1)(a), and includes any of its branches or wholly owned subsidiaries which is a bank;"approved credit rating agency" (核准信贷评级机构) means a person approved as such under section 58(1)(b); "approved introducing agent" (核准介绍代理人) means a licensed corporation approved as such under section 58(4); "approved redeemable shares" (核准可赎回股份) means redeemable shares in the share capital of a licensed corporation approved as such under section 58(5)(a); "approved securities borrowing and lending counterparty" (核准证券借贷对手方) means- (a) a recognized clearing house; or (b) a person approved as such under section 58(1)(c);"approved standby subordinated loan facility" (核准备用后偿贷款融通) means a standby subordinated loan facility obtained by a licensed corporation licensed for Type 1, Type 2, Type 3 or Type 8 regulated activity, which is approved as such under section 58(5)(c); "approved subordinated loan" (核准后偿贷款) means a subordinated loan obtained by a licensed corporation approved as such under section 58(5)(b); "authorized financial institution" (认可财务机构) means- (a) a bank within the meaning of section 2(1) of the Banking Ordinance (Cap 155) and includes any of its branches; (b) any wholly owned subsidiary of a bank referred to in paragraph (a) which is a bank; or (c) the principal place of business in Hong Kong, and any local branch, of a restricted licence bank or a deposit-taking company, in each case within the meaning of section 2(1) of the Banking Ordinance (Cap 155);"basic amount" (基本数额), in relation to a licensed corporation, means 5% of the aggregate of- (a) its adjusted liabilities; (b) the aggregate of the initial margin requirements in respect of outstanding futures contracts and outstanding options contracts held by it on behalf of its clients; and (c) the aggregate of the amounts of margin required to be deposited in respect of outstanding futures contracts and outstanding options contracts held by it on behalf of its clients, to the extent that such contracts are not subject to payment of initial margin requirements;"clearing house" (结算所) means a person- |
