Hong Kong Ordinances

BANKING ORDINANCE - SECT 137B

Prescribed instruments

(Past version on 30/06/1997).

(1) In this Ordinance-

"prescribed instrument" (訂明票據)-

   (a)  means an instrument-

        (i)    specified in the Sixth Schedule; and

        (ii)   in respect of which the Monetary Authority, or a person
               approved under subsection (3)(a) for the purposes of this
               definition, is the bearer for the purposes of facilitating
               services for the clearing and settlement of transactions in
               that instrument; and

   (b)  includes any right or interest-

        (i)    arising, whether directly or indirectly, under, or in respect
               of, an instrument referred to in paragraph (a), and
               irrespective of whether the right or interest may be enforced,
               claimed or otherwise maintained- (A) by a person against
               the issuer of the instrument; or (B) by another person against
               the person referred to in sub-subparagraph (A); and

        (ii)   which may be evidenced by- (A) a written document; (B)
               information recorded in the form of any entry in a book of
               account; (C) information recorded (whether by means of a
               computer or otherwise) in a non-legible form but which is
               capable of being reproduced in a legible form; or (D) any
               combination of sub-subparagraphs (A), (B) and (C).

(2) Where, but for this subsection, a prescribed instrument would be a
security within the meaning of the Securities and Futures Ordinance (
Cap 571), then, notwithstanding the provisions of that Ordinance, the
prescribed instrument shall be deemed not to be such a security if, and only
if, the instrument concerned specified in the Sixth Schedule is not such a
security. (Amended 5 of 2002 s. 407)

(3) The Monetary Authority may, by notice in the Gazette-

   (a)  approve a person for the purposes of the definition of

"prescribed instrument";

   (b)  amend the Sixth Schedule.

(4) For the avoidance of doubt, it is hereby declared that a notice under
subsection (3)(a) is not subsidiary legislation. (Added 94 of 1993 s. 31)

"prescribed instrument" (訂明票據)