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163 PDFTitle:MONEY LENDERS ORDINANCEGazette Number:L.N. 12 of 2003
Schedule:1Heading:Version Date:01/04/2003

[sections 2, 24,
25, 33 & 33C]
PART 1
EXEMPTED PERSONS

1. Any subsidiary of on authorized institution within the meaning of the Banking Ordinance (Cap 155).

2. A co-operative society registered under the Co-operative Societies Ordinance (Cap 33).

3. A credit union registered under the Credit Unions Ordinance (Cap 119) and the Credit Union League of Hong Kong incorporated under Part XI of that Ordinance.

4. A trade union registered under the Trade Unions Ordinance (Cap 332).

5. An insurer, within the meaning of the Insurance Companies Ordinance (Cap 41), authorized under that Ordinance to carry on a class, or classes, of insurance business specified in Part 2 of the First Schedule to that Ordinance.

6. (Repealed L.N. 140 of 1991)

7. University Grants Committee. (Amended L.N. 35 of 1995)

8. A bank which is-
    (a) incorporated or established outside Hong Kong;
    (b) recognized as a bank by the relevant banking supervisory authority (within the meaning of section 2(9) of the Banking Ordinance (Cap 155)) which has been declared in writing by the Monetary Authority appointed under section 5A of the Exchange Fund Ordinance (Cap 66) to be a banking supervisory authority in respect of which he is of the opinion that it exercises adequate prudential supervision for the purposes of this paragraph; and (Replaced 49 of 1995 s. 53)
    (c) carrying on banking business in the place where that banking supervisory authority is located. (Replaced 49 of 1995 s. 53)

9. An organization-
    (a) which is a member of the International Union of Credit and Investment Insurers ("The Berne Union"); or
    (b) in respect of which the Registrar has declared in writing that he is satisfied that it was established by one or more national governments with the object of financing, or guaranteeing the financing of, the export of a country's goods or services.

10. A corporation licensed to carry on a business in securities margin financing under Part V of the Securities and Futures Ordinance (Cap 571). (Replaced 5 of 2002 s. 407)

11. A corporation licensed to carry on, or an authorized financial institution registered for carrying on, a business in dealing in securities under Part V of the Securities and Futures Ordinance (Cap 571) who engages in securities margin financing in order to facilitate acquisitions or holdings of securities by the corporation or institution for its client. (Replaced 5 of 2002 s. 407)
PART 2

EXEMPTED LOANS

1. A loan made bona fide by an employer to his employee.

2. A loan made to a company secured by a mortgage, charge, lien or other encumbrance-
    (a) registered, or to be registered, under the Companies Ordinance (Cap 32); or
    (b) which would, in the case of a company referred to in paragraph (b) or (c) of the definition of "company" (公司) in section 2(1), be able to be registered under that Ordinance if that company were a company referred to in paragraph (a) of that definition.

3. A loan made by a company under a bona fide credit-card scheme operated by the company to any holder of a credit-card issued under that scheme.

4. A loan made bona fide for the purchase of immovable property on the security of a mortgage of that property and a loan made bona fide to refinance such a mortgage.

5. A loan made by a company or a firm or individual whose ordinary business does not primarily or mainly involve the lending of money, in the ordinary course of that business.

6. A loan made by a licensed pawnbroker under the Pawnbrokers Ordinance (Cap 166), being a loan to which that Ordinance applies.

7. A loan made by any statutory body under any power conferred by law in that behalf.

8. A loan made from-
    (a) a fund established by resolution of the Legislative Council or by or under an Ordinance;
    (b) any superannuation or provident fund.

9. A loan made from any chit-fund operated under the Chit-Fund Businesses (Prohibition) Ordinance (Cap 262).

10. (a) A loan made by a holding company to its subsidiary or by a subsidiary to its holding company or another subsidiary company of the same holding company.
    (b) Section 2(7) and (8) of the Companies Ordinance (Cap 32) shall apply to the interpretation of this paragraph as it applies to the interpretation of that Ordinance.

11. A loan made to a company where the loan-
    (a) forms part of a transaction involving the export from, or the import into, Hong Kong of goods or services; and
    (b) is for the purpose of facilitating that export or import, as the case may be, of those goods or services.

12. (a) A loan made to a company that has a paid up share capital of not less than $1000000 or an equivalent amount in any other approved currency.
    (b) For the purposes of this paragraph "approved currency" (認可貨幣) means a currency-
        (i) freely convertible into Hong Kong dollars; or
        (ii) approved in writing by the Registrar for the purposes of this paragraph.

13. A loan upon terms involving the issue by a company of debentures or other securities in respect of which a prospectus has been registered under the Companies Ordinance (Cap 32).

14. A loan made to a company the shares or debentures of which are listed on-
    (a) a recognized stock market as defined in section 1 of Part 1 of Schedule 1 to the Securities and Futures Ordinance (Cap 571); or (Replaced 5 of 2002 s. 407)
    (b) any other stock market declared in writing, by the Securities and Futures Commission referred to in section 3(1) of the Securities and Futures Ordinance (Cap 571), to be approved for the purposes of this paragraph. (Amended 10 of 1989 s. 65; 5 of 2002 s. 407)

15. A loan made to the subsidiary of a company referred to in paragraph 14.
(Replaced 69 of 1988 s. 33)