Q1 :
Can a licensed corporation treat the same securities traded in two trading counters i.e. Hong Kong dollar (HKD) counter and Renminbi (RMB) counter on The Stock Exchange of Hong Kong as securities of the same description under section 11(4)(a) of the FRR?
A:Yes. Licensed corporations can treat the same securities traded in the HKD counter and RMB counter as securities of the same description under section 11(4)(a) of the FRR considering that shares or units of the same securities in these two trading counters are of the same class, with the same holders’ rights and generally interchangeable between counters.
Last update: 6 Apr 2023
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