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(iii) a client for whom one or more deposits, or portion thereof, is or are held by a depositor in a client account; and

(b) the aggregate of the amount that shall be paid in priority under subsection (1)(db)(i), (ii) or (iii) in respect of the relevant deposits or portions would, but for this subsection, have exceeded $100,000,

the amount that shall be paid in priority under subsection (1)(db)(ii) or (iii) shall abate in equal proportions among themselves so that the aggregate referred to in paragraph (b) shall be $100,000.”;

(d) in subsection (6)—

(i) in the definition of “controller”—

(A) by repealing “總監” and substituting “控權人”;

(B) in the Chinese text, by repealing the full stop at the end and substituting a semicolon;

(ii) in the definition of “deposit” and “depositor”, by repealing “戶” and substituting “款人”;

(iii) by adding—

““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;

“bare trustee” (被動受託人) has the same meaning as in the Deposit Protection Scheme Ordinance (7 of 2004);

“chief executive” (行政總裁) has the same meaning as in the Banking Ordinance (Cap. 155);

“client account” (客戶帳戶), in relation to a depositor, means an account maintained by the depositor with a bank for the purpose of holding money held by the depositor for a client of the depositor, whether or not other money may be held in the account;

“excluded person” (豁除人士), in relation to a deposit maintained with the company being wound up, means—

(a) a related company of the company;

(b) an officer of the company being wound up or its related company on—

(i) 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 company being wound up under section 52 of that Ordinance; or

(ii) the date on which the petition for the winding up of the company being wound up is presented,

whichever is the earlier;

(c) a multilateral development bank as defined in paragraph 1 of the Third Schedule to the Banking Ordinance (Cap. 155);

(d) an authorized financial institution; or

(e) a foreign bank;

“foreign bank” (外地銀行) means a company that—

(a) is incorporated outside Hong Kong;

(b) is not an authorized financial 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 person who is not an excluded person;

“officer” (人員), in relation to a company that is an authorized financial institution, means—

(a) a director of the company;

(b) a chief executive of the company;