Cap 571N s 5 Paid-up share capital requirement for licensed corporations (SECURITIES AND FUTURES (FINANCIAL RESOURCES) RULES; SECURITIES AND FUTURES ORDINANCE)

Contents of Section

Chapter:	571N	Title:	SECURITIES AND FUTURES (FINANCIAL RESOURCES) RULES	Gazette Number:	L.N. 29 of 2011
Section:	5	Heading:	Paid-up share capital requirement for licensed corporations	Version Date:	01/06/2011

For the purposes of section 4, a licensed corporation other than one which carries on a regulated activity solely as one or more of the following-

(a) an approved introducing agent who is not a licensed corporation licensed for Type 3 regulated activity;

(b) a trader;

(d) a licensed corporation licensed for Type 4, Type 5, Type 9 or Type 10 regulated activity, which is subject to the specified licensing condition; (L.N. 117 of 2006; L.N. 29 of 2011)

(da) a licensed corporation licensed for Type 6 regulated activity, which is subject to both the specified licensing condition and the no sponsor work licensing condition. (L.N. 117 of 2006)

shall at all times maintain paid-up share capital of not less than-

(e) where it is licensed for only one regulated activity specified in column 1 of Table 1 in Schedule 1, the amount specified in column 2 of the Table opposite the regulated activity or, where any further description is set out for the regulated activity in column 1 of the Table, opposite the applicable description; or

(f) where it is licensed for 2 or more regulated activities specified in column 1 of the Table, the amount which is the higher or highest upon comparing each amount specified in column 2 of the Table opposite any of such regulated activities or, where any further description is set out for any of such activities in column 1 of the Table, opposite any of such activities or any of the applicable descriptions.