Hong Kong Ordinances

CLEARING AND SETTLEMENT SYSTEMS ORDINANCE - SECT 12

Monetary Authority may request information or documents

(1) For the better carrying out of his functions under this Ordinance, the
Monetary Authority may by notice in writing given to a system operator or
settlement institution of a designated system request the system operator or
settlement institution to give him such information or documents relating to
the system as may be specified in the notice.

(2) A request made under subsection (1) may specify a period, being a period
that is reasonable in the circumstances, within which the request shall be
complied with.

(3) For the avoidance of doubt, the power conferred under subsection (1) to
request information or documents relating to a designated system includes the
power to request such information or documents as the Monetary Authority
considers necessary to allow him to determine whether there is or has been
compliance with the provisions of this Ordinance in relation to the system
and, accordingly, a request made under subsection (1) may specify the giving
of information or documents on a periodic basis or at any time and regardless
of whether the Monetary Authority has reason to suspect that there is, has
been or may be any failure to comply with a provision of this Ordinance as
regards the system.