GUIDE TO AUTHORIZATION

September 2002

Guide to Authorization sets out the Monetary Authority's interpretation of the authorization criteria and the grounds for revocation contained in the Banking Ordinance and the procedures for processing applications for authorization. The Guide provides guidance to institutions seeking authorization under the Banking Ordinance about the scheme of supervision contained in the Ordinance and the policies and approach of the Hong Kong Monetary Authority in implementing it. It is also relevant to existing Authorized institutions as the authorization criteria continue to apply to them after authorization.

Available in bilingual format
(Chinese version will be available soon)

Full text available below in PDF format

Table of contents

Chapter 1	Introduction
Chapter 2	The Authorization Regime
Chapter 3	The Legal and Supervisory Framework
Chapter 4	Authorization
Chapter 5	Revocation and Suspension of Authorization
Chapter 6	Powers of Control over Authorized Institutions
Chapter 7	Restrictions on Use of Banking Names and Descriptions
Chapter 8	Application Procedures
Chapter 9	Authorization of Virtual Banks
Chapter 10	Authorization of the Issue of Multi-purpose Stored Value Cards
Chapter 11	Money Brokers
Annex 1	Sample Letter of Comfort
Annex 2	Documents Required to be Submitted on Application
Annex 3	Information Required to be Submitted on Application for Approval to Issue Multi-purpose Stored Value Cards