Select Page

Approvals and notifications required in relation to transfers of shares of a licensed corporation in Hong Kong

Approvals and notifications required  in relation to transfers of shares of  a licensed corporation in Hong Kong

Schedule 2

Examples of other matters that require the prior approval of the SFC:

Type of change Applicable to Form required Fee required
Addition of regulated activity Licensed corporation / licensed representative
  • Form 4 (miscellaneous application)
  • Supplement 7 (financial resources);
  • Supplement 8 (business plan and proposed business activities)
  • HK$4,740 per regulated activity other than type 3 (leveraged foreign exchange trading);
  • HK$129,730 for type 3
Reduction of regulated activity Licensed corporation / licensed representative
  • Form 4 (miscellaneous application)
HK$200 per regulated activity
Modification or waiver of licensing or registration condition Licensed corporation / licensed representative
  • Form 4 (miscellaneous application)
HK$4,000
Change of financial year end Licensed corporation / licensed representative
  • Form 4 (miscellaneous application)
HK$2,000 (also applicable to associated entities of intermediaries lodging related applications)
Adoption of period exceeding 12 months as financial year Licensed corporation / associated entity
  • Form 4 (miscellaneous application)
HK$2,000 (also applicable to associated entities of intermediaries lodging related applications)
Extension of deadline for submission of audited accounts Licensed corporation / associated entity
  • Form 4 (miscellaneous application)
HK$2,000 (also applicable to associated entities of intermediaries lodging related applications)
New premises to be used for keeping records or documents Licensed corporation
  • Form 4 (miscellaneous application)
HK$1,000 (payable on a per application basis regardless of the number of premises proposed in an application)
Transfer or addition of accreditation Licensed representative
  • Form 4 (miscellaneous application)
HK$200 per regulated activity

Schedule 3

Examples of other matters that are required to be notified to the SFC:

Type of change / events Applicable to Notification time limit Form required
Cessation of business Licensed corporation / licensed representative At least 7 business days in advance for intended cessation of business Form 5 (Notification – Licensed Corporation, Registered Institution, Licensed Representative and Substantial Shareholder)
Change in business address Licensed corporation At least 7 business days in advance for intended cessation of business Form 5 (Notification – Licensed Corporation, Registered Institution, Licensed Representative and Substantial Shareholder)
Associated entity Within 7 business days Form 6 (Notification – Associated Entity)
Change in complaints officer or his particulars Licensed corporation Within 7 business days Form 5 (Notification – Licensed Corporation, Registered Institution, Licensed Representative and Substantial Shareholder)
Change in emergency contact person or his particulars Licensed corporation Within 7 business days Form 5 (Notification – Licensed Corporation, Registered Institution, Licensed Representative and Substantial Shareholder)

Change in contact information

Licensed corporation / licensed representative/ substantial shareholder Within 7 business days Form 5 (Notification – Licensed Corporation, Registered Institution, Licensed Representative and Substantial Shareholder)
Associated entity Within 7 business days Form 6 (Notification – Associated Entity)
Change in bank accounts Licensed corporation Within 7 business days Form 5 (Notification – Licensed Corporation, Registered Institution, Licensed Representative and Substantial Shareholder)
Associated entity Within 7 business days Form 6 (Notification – Associated Entity)
Change in associated entity or its particulars Licensed corporation Within 7 business days Form 5 (Notification – Licensed Corporation, Registered Institution, Licensed Representative and Substantial Shareholder)
Associated entity Within 7 business days Form 6 (Notification – Associated Entity)
Change in insurance policy maintained under the Securities and Futures (Insurance) Rules Licensed corporation Within 7 business days

Form 5 (Notification – Licensed Corporation, Registered Institution, Licensed Representative and Substantial Shareholder)

Change in auditor’s name Licensed corporation Within 7 business days Form 5 (Notification – Licensed Corporation, Registered Institution, Licensed Representative and Substantial Shareholder)
Give notice of a motion to change auditor in a general meeting, etc (see section 154 of the SFO) Licensed corporation Within 1 business day Form 5 (Notification – Licensed Corporation, Registered Institution, Licensed Representative and Substantial Shareholder)
Associated entity Within 1 business day Form 6 (Notification – Associated Entity)
Change in executive officer or his particulars Associated entity Within 7 business days Form 6 (Notification – Associated Entity)

JUNE 2009
This note is provided for information purposes only and does not constitute legal advice. Specific advice should be sought in relation to any particular situation. This note has been prepared based on the laws and regulations in force at the date of this note which may be subsequently amended, modified, re-enacted, restated or replaced.

licensed corporation in Hong Kong

Securities and Futures Commission (the “SFC”)

Prior approval of the SFC

Notification to the SFC

Securities and Futures (Licensing and Registration) (Information) Rules

Banking Ordinance (Cap 115)

Fit and Proper Guidelines

Guidelines on Competence

Hong Kong Monetary Authority

Mandatory Provident Fund Schemes Authority of Hong Kong

 

Skills

Posted on

2009-06-03