Page:Deposit Protection Scheme Ordinance (Cap. 581).pdf/14

DEPOSIT PROTECTION SCHEME ORDINANCE ::(iv) any other information about the scheme, if any, as specified for this purpose in the conditions of the exemption.

(11) If a bank contravenes subsection (10), every director and every chief executive of the bank commits an offence and is liable—
 * (a) on conviction on indictment to a fine of $400,000 and to imprisonment for 2 years; or
 * (b) on summary conviction to a fine at level 6 and to imprisonment for 6 months.

(12) In subsection (10), “relevant time” (有關時間)—
 * (a) in relation to the bank’s depositors, means the time when the bank receives the notice of decision of the Board given under subsection (6);
 * (b) in relation to a person who is not already a depositor of the bank but has informed the bank that he intends to make a deposit with the bank, means the time when the person so informs the bank.

PART 4 14. Establishment of Deposit Protection Scheme Fund

(1) There is established by this section a fund to be known as the “Deposit Protection Scheme Fund” in English and “存款保障計劃基金” in Chinese.

(2) The Fund is to consist of—
 * (a) contributions and late payment fees collected from Scheme members;
 * (b) money recovered by the Board from, or out of the assets of, Scheme members;
 * (c) returns on investments made under section 21;
 * (d) money borrowed by the Board for the purpose of performing its functions; and
 * (e) any other money lawfully paid into the Fund.

15. Contributions to Fund

(1) The Board shall assess the amount of contribution payable by each Scheme member.