Page:Deposit Protection Scheme Ordinance (Cap. 581).pdf/28

DEPOSIT PROTECTION SCHEME ORDINANCE (3) In this section—

“arrangement” (安排) includes an arrangement, transaction, operation or scheme whether or not such arrangement, transaction, operation or scheme is enforceable, or intended to be enforceable, by legal proceedings;

“relevant date” (有關日期), in relation to a Scheme member, means—
 * (a) the date on which a Manager within the meaning of section 2(1) of the Banking Ordinance (Cap. 155) is appointed in respect of the Scheme member under section 52 of that Ordinance; or
 * (b) the date on which the petition for the winding up of the Scheme member is presented,

whichever is the earlier.

34. Compensation in Hong Kong dollars

Compensation payable in accordance with this Ordinance shall be paid in Hong Kong dollars regardless of the currency in which the protected deposit concerned is denominated.

35. Limits to amount of compensation

The amount of compensation payable to a depositor of a failed Scheme member in accordance with this Ordinance shall not exceed the amount in respect of which the depositor would, on the winding up of the failed Scheme member, be entitled to priority under section 265(1)(db) of the Companies Ordinance (Cap. 32).

36. Interim payment

If a specified event has occurred in relation to a Scheme member, and the Board considers that, in relation to a depositor of the Scheme member—
 * (a) there is uncertainty as to the entire amount of compensation payable to the depositor in accordance with this Ordinance; or
 * (b) the time required to ascertain the entire amount of compensation payable to the depositor in accordance with this Ordinance would be so long as to unduly delay the payment of compensation to the depositor by the Board,

the Board may make an interim payment of compensation to the depositor of such an amount as the Board considers appropriate.