Hong Kong Regulations

MANDATORY PROVIDENT FUND SCHEMES (GENERAL) REGULATION - SECT 13

What is an eligible overseas bank for the purposes of this Regulation?

(Past version on 24/07/1998).

A bank is an eligible overseas bank for the purposes of this Regulation if-

   (a)  it is a bank incorporated outside Hong Kong and not holding a valid
        banking licence under the Banking Ordinance ( Cap 155); and (5 of 2002
        s. 407)

   (b)  it satisfies a minimum credit rating set by the Authority, based on
        the credit rating of the bank as determined by an approved credit 
        rating agency.