Value Partners - Investing through discipline

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Hong Kong Professional Investor and/or non-Hong Kong residents'

Disclaimer

The information contained in this section is provided for reference only and does not constitute a distribution, an offer to sell or a solicitation of an offer to buy any securities.
The information contained is solely for Hong Kong professional investors and/or non-Hong Kong residents' use.

Under Cap 571 "Securities & Futures Ordinance" Schedule 1

"Professional investor" ( 專業投資者 ) means

(a)

any recognized exchange company, recognized clearing house, recognized exchange controller or recognized investor compensation company, or any person authorized to provide automated trading services under section 95(2) of this Ordinance;

(b)

any intermediary, or any other person carrying on the business of the provision of investment services and regulated under the law of any place outside Hong Kong;

(c)

any authorized financial institution, or any bank which is not an authorized financial institution but is regulated under the law of any place outside Hong Kong;

(d)

any insurer authorized under the Insurance Companies Ordinance (Cap 41), or any other person carrying on insurance business and regulated under the law of any place outside Hong Kong;

(e)

any scheme which-

(i)	is a collective investment scheme authorized under section 104 of this Ordinance; or
(ii)	is similarly constituted under the law of any place outside Hong Kong and, if it is regulated under the law of such place, is permitted to be operated under the law of such place, or any person by whom any such scheme is operated;

(f)

any registered scheme as defined in section 2(1) of the Mandatory Provident Fund Schemes Ordinance (Cap 485), or its constituent fund as defined in section 2 of the Mandatory Provident Fund Schemes (General) Regulation (Cap 485 sub. leg. A), or any person who, in relation to any such registered scheme, is an approved trustee or service provider as defined in section 2(1) of that Ordinance or who is an investment manager of any such registered scheme or constituent fund;

(g)

any scheme which-

(i)	is a registered scheme as defined in section 2(1) of the Occupational Retirement Schemes Ordinance (Cap 426); or
(ii)	is an offshore scheme as defined in section 2(1) of that Ordinance and, if it is regulated under the law of the place in which it is domiciled, is permitted to be operated under the law of such place, or any person who, in relation to any such scheme, is an administrator as defined in section 2(1) of that Ordinance;

(h)

any government (other than a municipal government authority), any institution which performs the functions of a central bank, or any multilateral agency;

(i)

except for the purposes of Schedule 5 to this Ordinance, any corporation which is-

(i)

a wholly owned subsidiary of-

(A)	an intermediary, or any other person carrying on the business of the provision of investment services and regulated under the law of any place outside Hong Kong; or
(B)	an authorized financial institution, or any bank which is not an authorized financial institution but is regulated under the law of any place outside Hong Kong;

(ii)

a holding company which holds all the issued share capital of-

(A)	an intermediary, or any other person carrying on the business of the provision of investment services and regulated under the law of any place outside Hong Kong; or
(B)	an authorized financial institution, or any bank which is not an authorized financial institution but is regulated under the law of any place outside Hong Kong; or

(iii)

any other wholly owned subsidiary of a holding company referred to in subparagraph (ii); or

(j)

any person of a class which is prescribed by rules made under section 397 of this Ordinance for the purposes of this paragraph as within the meaning of this definition for the purposes of the provisions of this Ordinance, or to the extent that it is prescribed by rules so made as within the meaning of this definition for the purposes of any provision of this Ordinance.