Hong Kong Ordinances

DEPOSIT PROTECTION SCHEME ORDINANCE - SECT 31

Restrictions on entitlement to compensation

(1) If a depositor of a Scheme member or any other person is entitled, in
respect of the depositor’s protected deposit with the Scheme member, to
compensation under this Division, any such compensation shall be paid to the
depositor, but not any other person, in accordance with this Ordinance.

(2) No action to enforce any entitlement to compensation under this Division
may be brought in any court unless the action is commenced within 5 years
after the date of the specified event concerned.

(3) If a person has, in respect of a protected deposit or portion thereof,
been paid an amount of compensation out of the Investor Compensation Fund
established under section 236 of the Securities and  Futures Ordinance (
Cap 571) in respect of a claim for compensation made under rules made under
Part XII of that Ordinance, no person is entitled, in respect of the deposit
or that portion (as the case may be), to compensation under this Division.

(4) If the Board has paid a depositor of a protected deposit the entire amount
of compensation payable to the depositor in accordance with this Ordinance, no
other person is entitled, in respect of the deposit, to compensation under
this Division.