hedge to prevent risks from changing in price or value without delay. The provision in the first paragraph shall not apply to the derivatives broker who enters into an option contract as an option holder

Clause 5, such derivative broker shall perfectly hedge to prevent risks from changing in price or value without delay. (UNOFFICIAL TRANSLATION) The provision in the first paragraph shall not apply to the

) The provision in the first paragraph shall not apply to the derivatives broker who enters into an option contract as an option holder. The word “option contract” means the contract with the

. (Translation) 4 Clause 6. 6 Repealed. Clause 7. The provision under Clause 3(1)(b) shall not apply to the person holding the position of branch manager, or other equivalent positions called otherwise, of the

, the Office may waive certain rules of this Notification in considering an application or may not apply certain conditions of this Notification to an approved offer for sale of warrants and underlying

Office in accordance with the format and procedures specified in the electronic work system of the SEC Office. Clause 121 The provisions under Clause 6 and Clause 7 shall apply to the application for the

respective local market could apply for an expedited review process if it intends to invest in a master fund that meets the requirements set out in the SFC and SEC Circular (“MRF-eligible master fund

for sale to the public in the respective local market could apply for an expedited review process if it intends to invest in a master fund that meets the requirements set out in the SFC and SEC Circular

has to apply the same accounting recording procedure for each category of investment. If an entity elects to account for such investments using the equity method in the separate financial statements, it

beneficiary of a collective investment scheme established under foreign law, either in the form of company, trust or others. Clause 3 This Notification shall apply to the licensees of the following licenses: (1