Hong Kong Regulations

BANKING (CAPITAL) RULES - SECT 23

Revocation of exemption under section 22

(1) Where—

   (a)  an authorized institution is exempted under section 22(1) from
        section 17; and

   (b)  the Monetary Authority is satisfied that, if the institution were not
        already so exempted, the exemption would be refused by virtue of the
        institution failing to satisfy the Monetary Authority as specified in
        section 22(1), the Monetary Authority may, by notice in writing given
        to the institution, revoke the exemption granted under section 22(1),
        beginning on such date, or the occurrence of such event, as specified
        in the notice.

(2) Section 17 applies to an authorized institution immediately upon the
revocation under this section of an exemption under section  22 (1).