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

(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
Deposit Protection Scheme Fund

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.