Page:Deposit Protection Scheme Ordinance (Cap. 581).pdf/43

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DEPOSIT PROTECTION SCHEME ORDINANCE
Ord. No. 7 of 2004
A293


(i) contributions or late payment fees are to be paid by Scheme members; or
(ii) rebates or refunds of contributions are to be paid to Scheme members;
(d) requiring a Scheme member to make known to the public under specified circumstances—
(i) whether or not it is a member of the Scheme; or
(ii) whether or not a deposit, or any other financial product offered by the Scheme member, is a protected deposit, and prescribing the manner in which the requirement is to be complied with;
(e) prescribing anything required to be prescribed under this Ordinance other than Part 6 and section 5 of Schedule 3; and
(f) generally providing for the better performance of the functions of the Board.

(2) Rules made under this section may—

(a) provide that a contravention of a specified provision of the rules is an offence punishable—
(i) on conviction on indictment by a fine at level 6 and imprisonment for 2 years; or
(ii) on summary conviction by a fine at level 3 and imprisonment for 6 months; and
(b) provide for any specified defence to be available in proceedings for such an offence.

(3) Rules made under this section shall not require a Scheme member to maintain any information system or other records that contain information or documents, or to submit any information or document, relating to any person who is—

(a) a beneficiary for whom a deposit, or portion thereof, maintained with the Scheme member is held by a depositor as a trustee or bare trustee; or
(b) a client for whom a deposit, or portion thereof, maintained with the Scheme member is held by a depositor in a client account.

52. Power of Chief Justice to make rules

The Chief Justice may make rules—

(a) providing for matters of procedure, or other matters, relating to applications for review, or reviews, under Part 6, which are not provided for in that Part or section 5 of Schedule 3;
(b) providing for the issue or service of any document (however described) for the purposes of Part 6 or section 5 of Schedule 3; or
(c) prescribing anything required to be prescribed under Part 6 or section 5 of Schedule 3.