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

investment units in the amount of fifty percent or more of the total outstanding investment units; (4) a mutual fund of which the person under (1) or (2) holds investment units in the amount of not exceeding

) The value of outstanding investment units is insufficient to accommodate the expenses for further investment management; (2) The nature of the sale of investment units, the number of unitholders or the

or partnerships under (1) or (2) that hold shares in an aggregate of more than ten percent of the outstanding shares of such company; (4) Limited company or public limited company of which the fund

units of the new mutual fund or the mutual fund which accepts the transfer of assets. Clause 3. All notifications of the Office of the Securities and Exchange Commission, orders and circular letters

number of outstanding shares are held by a commercial bank, securities business operator, derivatives business operator or holding company; (b) Any company whose 75 percent or more of its total number of

The Office of the Securities and Exchange Commission (Unofficial Translation) PAGE The Office of the Securities and Exchange Commission 12 June 2007 To: Managers All securities companies Circular No

Covered Fund in Hong Kong satisfied those stipulated in Appendix B-II-SEC Circular of the Memorandum of Understanding between the Securities and Futures Commission of Hong Kong and the Securities and

be deposited by clients as the margins for their outstanding derivatives positions shall be in accordance with the minimum rate or value prescribed by the derivatives exchange or the value calculated

prescribed in the Derivatives Act B.E. 2546 (2003) including the Notifications and circular notices issued or laid down the guideline of implementation to such Act. (3) not being under restriction or