Hong Kong Regulations

SECURITIES AND FUTURES (INVESTOR COMPENSATION-CLAIMS) RULES - SECT 9

Payment of compensation

(1) Subject to subsection (2) and section 11, the following amounts shall be
paid out of the compensation fund-

   (a)  any compensation payable to a claimant as specified in the notice of
        determination under section 8(3)(e);

   (b)  any compensation payable following a decision of the Tribunal or the
        Court of Appeal, under Part XI of the Ordinance; and

   (c)  any costs awarded in favour of a claimant by the Tribunal, or the
        Court of Appeal, following a decision referred to in paragraph (b).

(2) The total amount of compensation payable to a claimant under subsection
(1)(a) and (b) shall not exceed the maximum amount of compensation prescribed
by rules made under section 244(1) of the Ordinance.

(3) In determining the total amount of compensation to be paid to a claimant
under subsection (1)(a) and (b), and in applying the limits on the maximum
amount of compensation prescribed by rules made under section 244(1) of the
Ordinance, the Commission may aggregate separate claims for compensation by a
claimant, or a number of claimants, or parts of those claims, if it is
satisfied that the separate claims, or parts of those claims, represent the
losses sustained by one person arising out of the same default.

(4) The Commission may pay compensation by instalments if it determines that
it is necessary or appropriate to do so.