Hong Kong Ordinances

DEPOSIT PROTECTION SCHEME ORDINANCE - SECT 5

Functions of Board

The Board has the following functions—

   (a)  to establish and maintain the Scheme;

   (b)  to manage and administer the Fund;

   (c)  to assess and collect contributions and late payment fees;

   (d)  to decide the entitlement of depositors and other persons to
        compensation under Division 2 of Part 5;

   (e)  to pay compensation to depositors in accordance with this Ordinance;

   (f)  to pay rebates or refunds of contributions to Scheme members in
        accordance with this Ordinance;

   (g)  to recover from, or out of the assets of, the Scheme member concerned
        any amount of compensation paid to depositors from the Fund, together
        with any interest accrued thereon in accordance with section 38; and

   (h)  such other functions as are imposed on it under this Ordinance.