Hong Kong Regulations

DEPOSIT PROTECTION SCHEME (ASSET MAINTENANCE) RULES - SECT 7

Application for review: specification for the purposes of section 41 of the Ordinance

(1) For the purposes of section 41(3) of the Ordinance, the Monetary
Authority's decision to issue a requirement under section 5(1), or to refuse
an application by a Scheme member under section 6(2) for withdrawal of such a
requirement, is a decision to which section 41 of the Ordinance applies.

(2) For the purposes of section 41(5)(a) of the Ordinance—

   (a)  if a person applies for a review of the Monetary Authority's decision
        to issue a requirement under section 5(1), the application for review
        is to be made within 30 days after the date of service of the notice
        by which the requirement is issued; and

   (b)  if a person applies for a review of the Monetary Authority's decision
        to refuse an application by a Scheme member under section 6(2) for
        withdrawal of such a requirement, the application for review is to be
        made within 30 days after the date of service of the notice of the
        decision.