Cap 581A s 6J Disclosure not required if notice already given in respect of deposit (DEPOSIT PROTECTION SCHEME (REPRESENTATION ON SCHEME MEMBERSHIP AND PROTECTION OF FINANCIAL PRODUCTS UNDER SCHEME) RULES; DEPOSIT PROTECTION SCHEME ORDINANCE)

Contents of Section

Chapter:	581A	Title:	DEPOSIT PROTECTION SCHEME (REPRESENTATION ON SCHEME MEMBERSHIP AND PROTECTION OF FINANCIAL PRODUCTS UNDER SCHEME) RULES	Gazette Number:	L.N. 131 of 2010
Section:	6J	Heading:	Disclosure not required if notice already given in respect of deposit	Version Date:	01/01/2011

A Scheme member is not required under section 6H(2)(b) to notify a person in respect of a deposit qualified for protection by the Scheme placed or to be placed by the person if—

(a) the person has maintained an account with the Scheme member and the deposit is placed or to be placed under that account; and

(b) the Scheme member has—

(i) notified the person under section 6H(2)(a) that the deposit to be placed under that account is a deposit qualified for protection by the Scheme;

(ii) notified the person under section 6H(2)(a) that another deposit (being a deposit of the same type as that of the deposit placed or to be placed under that account) to be placed under that account is a deposit qualified for protection by the Scheme;

(iii) notified the person under section 6H(2)(b) in respect of another deposit (being a deposit of the same type as that of the deposit placed or to be placed under that account) placed under that account that that other deposit is a deposit qualified for protection by the Scheme;

(iv) subject to subparagraph (v), if the person has maintained another deposit (being a deposit of the same type as that of the deposit placed or to be placed under that account) under that account immediately before 1 January 2011, specified the type of that other deposit in the notice displayed by the Scheme member under section 6F; or

(v) if the person has maintained another deposit (being a deposit of the same type as that of the deposit placed or to be placed under that account) under that account immediately before 1 January 2011 and a statement of that other deposit or a statement of that account is to be issued under section 6G(1)(b), notified the person under section 6G(2) that that other deposit is a deposit qualified for protection by the Scheme.