Hong Kong Ordinances

DEPOSIT PROTECTION SCHEME ORDINANCE - SECT 12

Membership of Scheme

(1) Subject to section 13, every bank is a member of the Scheme and remains as
such until—

   (a)  the company ceases to be a bank by virtue of section 18(3) of the
        Banking Ordinance ( Cap 155); or

   (b)  its banking licence is revoked under that Ordinance.

(2) In the case of a bank the banking licence of which was granted on or
before the commencement of this section, it becomes a member of the Scheme on
that commencement.

(3) In the case of a bank the banking licence of which is granted after the
commencement of this section, it becomes a member of the Scheme on the date on
which its banking licence is granted.