Page:Clearing and Settlement Systems Ordinance (Cap. 584).pdf/4

CLEARING AND SETTLEMENT SYSTEMS ORDINANCE

HONG KONG SPECIAL ADMINISTRATIVE REGION

Rh An Ordinance to provide for certain clearing and settlement systems for funds or securities to be subject to oversight by the Monetary Authority; for the modification of the laws of Hong Kong in their application to transactions effected through and proceedings within such clearing and settlement systems so as to ensure finality as regards those transactions and proceedings; and for related purposes. [] PART 1 1. Short title and commencement

(1) This Ordinance may be cited as the Clearing and Settlement Systems Ordinance.

(2) This Ordinance shall come into operation on a day to be appointed by the Secretary for Financial Services and the Treasury by notice published in the Gazette.

2. Interpretation

In this Ordinance, unless the context otherwise requires—