Our Ref.: B4/1C
23 May 2006
The Chief Executive
All Authorized Institutions
Dear Sir/Madam,
Revised forms for application to become
Chief Executive/ Alternate Chief Executive/ Director/ Executive
Officer
I am writing to announce the launch of the following revised
application forms. The revision of these forms is made after
consultation with The Hong Kong Association of Banks and The DTC
Association.
- Application for approval to become a Chief Executive/ Alternate
Chief Executive/ Director under section 71 of the Banking Ordinance
- see Annex 1;
- Application for approval to become an Executive Officer under
section 71C of the Banking Ordinance- see Annex
2; and
- Application for change of regulated activities for an Executive
Officer under section 71C of the Banking Ordinance- see Annex 3.
Consistent with international best practices, various changes
have been made to the forms. These include the following key
changes:
(a) Information to be
submitted
- Applicants applying to become an Independent Non-Executive
Director (INED) are required to submit a declaration to the
authorized institution (AI) concerned, stating that he/she is not
aware of any issues or circumstances which may affect his/her role
as an INED of the AI;
- Applicants are required to disclose whether they are the
subject of any legal proceedings as opposed to being engaged in any
litigation;
- Applicants are also asked whether they have ever been requested
to resign from office or employment or subject to internal
investigations; and
- The declaration required of the applicant, relating to business
dealings with the AI concerned, is now confined to those with the
applicant, his/her spouse or any firm or company in which the
applicant or his/her spouse are interested as sole proprietor,
partner, director, controller, chief executive or manager.
(b) Certificate of the
AI concerned
A certificate of the AI connected with the application is
included in the revised forms. The AI is required to verify the
particulars of the applicant and then sign the certificate before
submitting the application to us.
With effect from 1
July, 2006, any person applying to become a Chief Executive/
Alternate Chief Executive/ Director/ Executive Officer of an AI
will be required to use the appropriate revised form.
The revised application forms can be obtained at the HKMA's
reception or downloaded from the HKMA's private website (www.stet.finnet.hk). Please contact Mr Andrew
Lo at 2878-1847 if you have any questions.
Yours faithfully,
Raymond Li
Executive Director (Banking Development)
- Encl.
- Annex
1 Revised Form section 71 (MS Word File, 141KB)
Annex 2
Revised Form EO Section 71C (MS Word File, 104KB)
Annex 3
Revised Form EO Chg of RA s 71C (MS Word File, 306KB)
- c.c.
- The Secretary, HKAB
The Secretary, DTCA
