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Granting of authorisation to Creative Star Limited as a deposit-taking company

The Hong Kong Monetary Authority announced today (25 April) that the Monetary Authority has authorised Creative Star Limited (CSL) as a deposit-taking company for the principal purpose of issuing the multi-purpose stored value card known as "Octopus".

The Octopus Card was previously exempted from the definition of "multi-purpose card" under the Banking Ordinance because of its restricted range of uses. The authorisation of CSL as a deposit-taking company will allow the card to be used for a wider range of uses, including some that are non-transport-related, with a view to enhancing the convenience for cardholders. However, the uses of the card will continue to be mainly transport-related.

CSL was incorporated on 29 June 1993 for the purpose of operating a common ticketing and payment system by means of the Octopus Card. It is used by the major public transport operators in Hong Kong, namely, Mass Transit Railway Corporation, Kowloon Canton Railway Corporation, Kowloon Motor Bus, Citybus and New World First Bus.

With the granting of the authorisation to CSL, the number of deposit-taking companies in Hong Kong has increased to 69.

Hong Kong Monetary Authority
25 April 2000

Last revision date: 1 August 2011
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