As with the UK Charities Act 2006 ('CA 2006'), the presumption of charitable public benefit will likely cease when the Charities Ordinance (“CO”) comes into force in Hong Kong. The reference to the United Kingdom is important in the formulation of the organizing principles of public benefit;...

Since accession to the WTO, the liberalization of the Chinese planned economy to a market economy has evolved piecemeal. The risk management objective for the transition has been proceduralized in the form of regulation. The objective serves to benefit the infrastructure of the market economy....

Contains legal and regulatory rules of the five main financial entities/markets: Hong Kong, China, The United States, European Union and United Kingdom• Laws of each region are illustrated and compared.• Provides information on how these markets interact with each other to co-exist in the...

As a fact of commercial reality, the time value of money in the common law restitutionary claim is assumed to be reflected by compound interest. Such assumption is a misperception, as compound interest is a value that is independent from money. The user principle, in measuring the time value,...

This paper argues that the Central Counterparty (CCP) clearing system will be able to provide an effective platform in dealing with counterparty risk and insolvency risk in OTC derivative transactions. First, this paper assesses how authorized institutions can enter an OTC derivative contract in...

When the Banking Act was brought into force in early 2009, it legitimised governmental power to interfere in the market-economy as well as providing a transparency of proceduralisation. The Act confers three bodies-the FSA, the Treasury and the Bank of England-with a power called the special...

The legal structure of Chinese Banking securitsation has been evolving cautiously. Since 1997 until recntly, the Bank of China (BOC) had the monopoly in selling and purchasing forward contracts in China; other Chinese banks were excluded from entering into forward contracts. However, the People's...

Four years after Chinese trust law was brought into force, both the Chinese banking regulator, the China Banking Regulatory Commission (CBRC), and the central bank, the People's Bank of China, introduced the Administrative Rules for Pilot Securitization of Credit Asset (The Rule). The rule...