Page:Deposit Protection Scheme Ordinance (Cap. 581).pdf/46

DEPOSIT PROTECTION SCHEME ORDINANCE 2. For the purpose of the definition of “relevant deposit” in section 2(1) of this Ordinance, the following deposits are specified—
 * (a) a term deposit where the current term agreed to by the depositor at the most recent time it was negotiated exceeds 5 years;
 * (b) a deposit the repayment of which is secured either in whole or in part on the assets of the Scheme member;
 * (c) a bearer instrument;
 * (d) a deposit taken by the Scheme member at any of its offices outside Hong Kong;
 * (e) a deposit held for the account of the Exchange Fund;
 * (f) a deposit held by an excluded person in his own right, or, in the case of a deposit held by an excluded person and a non-excluded person in their own right (except where those persons carry on business in partnership), the portion of the deposit attributable to the excluded person’s share in the deposit.

3. In this Schedule—

“excluded person” (豁除人士), in relation to a deposit maintained with a Scheme member, means—
 * (a) a related company of the Scheme member;
 * (b) a multilateral development bank as defined in paragraph 1 of the Third Schedule to the Banking Ordinance (Cap. 155);
 * (c) an authorized institution;
 * (d) a foreign bank; or
 * (e) in relation—
 * (i) to the definition of “protected deposit” in section 2(1) of this Ordinance for the purposes of Part 5 of this Ordinance, an officer of the Scheme member or its related company on—
 * (A) the date immediately preceding 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;
 * (ii) to the definition of “protected deposit” in section 2(1) of this Ordinance for any other purpose and to the definition of “relevant deposit” in that section, an officer of the Scheme member or its related company;

“foreign bank” (外地銀行) means a company that—
 * (a) is incorporated outside Hong Kong;
 * (b) is not an authorized institution; and
 * (c) may, in or outside the place where it is incorporated, lawfully take deposits from the general public (whether or not on current account), or is authorized or recognized as a bank in that place;

“non-excluded person” (非豁除人士) means—
 * (a) in relation to the definition of “protected deposit” in section 2(1) of this Ordinance for the purposes of Part 5 of this Ordinance, a person who is not an excluded person within the meaning of paragraph (a), (b), (c), (d) or (e)(i) of the definition of “excluded person”;
 * (b) in relation to the definition of “protected deposit” in section 2(1) of this Ordinance for any other purpose and to the definition of “relevant deposit” in that section, a person who is not an excluded person within the meaning of paragraph (a), (b), (c), (d) or (e)(ii) of the definition of “excluded person”;

“officer” (人員)—
 * (a) in relation to a Scheme member or its related company that is an authorized institution, means—
 * (i) a director of the Scheme member or the company;
 * (ii) a chief executive of the Scheme member or the company;
 * (iii) a controller, within the meaning of section 2(1) of the Banking Ordinance (Cap. 155), of the Scheme member or the company; or
 * (iv) a manager, within the meaning of that section, of the Scheme member or the company;