Deposit Protection Scheme Ordinance

The Ordinance, enacted on 5 May 2004, providing for the establishment of a deposit protection scheme in Hong Kong. In accordance with the Ordinance, a deposit protection scheme with a coverage limit of HK$100,000 per depositor per bank will be established in Hong Kong. The scheme, which started operation on 25 September 2006, is managed by the Hong Kong Deposit Protection Board. All licensed banks in Hong Kong are members of the Scheme unless otherwise exempted by the Board.

See also deposit insurance scheme and deposit preferential payment/priority payment scheme.