Hong Kong Regulations

SECURITIES AND FUTURES (INSURANCE) RULES - SECT 3

Application

These Rules apply to a corporation that is granted a licence under section
116(1) of the Ordinance to carry on any regulated activity other than such a
corporation that-

   (a)  is not an exchange participant of the Stock Exchange Company or of the
        Futures Exchange Company; and

   (b)  is granted a licence under section 116(1) of the Ordinance to carry on
        any regulated activity subject to a condition that the corporation
        shall not hold client assets.