RISK OF PROVIDING AN AUTHORITY TO REPLEDGE THE CLIENT’S SECURITIES COLLATERAL ETC. 提供將客戶的證券抵押品再質押的授權書的風險 There is risk if the Client provides the licensed or registered person with an authority that allows it to apply the Client’s securities or securities collateral pursuant to a securities borrowing and lending agreement, repledge the Client’ securities collateral for financial accommodation or deposit the Client’s securities collateral as collateral for the discharge and satisfaction of its settlement obligations and liabilities. 向持牌人或註冊人提供授權書，容許其按照某份證券借貸協議使用客戶的證券或證券抵押品、將客戶的證券抵押 品再質押以取得財務通融，或將客戶的證券抵押品存放為用以擔保履行及清償其結算責任及債務的抵押品，存在一定風險。 If the Client’s securities or securities collateral are received or held by the licensed or registered person in Hong Kong, the above arrangement is allowed only if the Client consents in writing. Moreover, unless the Client is a professional investor, the Client’s authority must specify the period for which it is current and be limited to not more than 12 months. If the Client is a professional investor, these restrictions do not apply. 倘若客戶的證券或證券抵押品由持牌人或註冊人在香港收取或持有，則上述安排僅限於客戶已就此給予書面同 意的情況下方行有效。此外，除非客戶是專業投資者，否則客戶的授權書必須指明有效期，而該段有效期不得超逾 12 個月。若客戶是專業投資者，則有關限制並不適用。 Additionally, the Client’s authority may be deemed to be renewed (i.e. without the Client’s written consent) if the licensed or registered person issues the Client a reminder at least 14 days prior to the expiry of the authority, and the Client does not object to such deemed renewal before the expiry date of the Client’s then existing authority. 此外，倘若客戶的持牌人或註冊人在有關授權書屆滿前最少 14 日向客戶發出有關提示，而客戶在當時現存授權 書的屆滿日前對以此方式將該授權續期並無表示反對，則客戶的授權將會在沒有客戶書面同意的情況下被視為已續期。 The Client is not required by any law to sign these authorities. But an authority may be required by licensed or registered persons, for example, to facilitate margin lending to the Client or to allow the Client’s securities or securities collateral to be lent to or deposited as collateral with third parties. The licensed or registered person should explain to the Client the purposes for which one of these authorities is to be used. 現時並無任何法律規定客戶必須簽署這些授權書。然而，持牌人或註冊人可能需要授權書，以便例如向客戶提供 保證金貸款或獲准將客戶的證券或證券抵押品借出予第三方或作為抵押品存放於第三方。有關持牌人或註冊人應向客戶闡釋將為何種目的而使用授權書。 If the Client signs one of these authorities and the Client’s securities or securities collateral are lent to or deposited with third parties, those third parties will have a lien or charge on the Client’s securities or securities collateral. Although the licensed or registered person is responsible to the Client for the Client’s securities or securities collat...
RISK OF PROVIDING AN AUTHORITY TO REPLEDGE THE CLIENT’S SECURITIES COLLATERAL ETC. There is risk if the Client provides the licensed or registered person with an authority that allows it to apply the Client’s Securities or Securities collateral pursuant to a Securities borrowing and lending agreement, repledge the Client’s Securities collateral for financial accommodation or deposit the Client’s Securities collateral as collateral for the discharge and satisfaction of its settlement obligations and liabilities. If the Client’s Securities or Securities collateral are received or held by the licensed or registered person in Hong Kong, the above arrangement is allowed only if the Client consents in writing. Moreover, unless the Client is a professional investor, the Client’s authority must specify the period for which it is current and be limited to not more than twelve (12) months. If the Client is a professional investor, these restrictions do not apply. Additionally, the Client’s authority may be deemed to be renewed (i.e. without the Client’s written consent) if the licensed or registered person issues the Client a reminder at least fourteen (14) days prior to the expiry of the authority, and the Client does not object to such deemed renewal before the expiry date of the Client’s then existing authority. The Client is not required by any law to sign these authorities. But an authority may be required by licensed or registered persons, for example, to facilitate margin lending to the Client or to allow the Client’s Securities or Securities collateral to be lent to or deposited as collateral with third parties. The licensed or registered person should explain to the Client the purposes for which one of these authorities is to be used. If the Client sign one of these authorities and the Client’s Securities or Securities collateral are lent to or deposited with third parties, those third parties will have a lien or charge on the Client’s Securities or Securities collateral. Although the licensed or registered person is responsible to the Client for Securities or Securities collateral lent or deposited under the Client’s authority, a default by it could result in the loss of the Client’s Securities or Securities collateral. A cash account not involving Securities borrowing and lending is available from most licensed or registered persons. If the Client does not require margin facilities or do not wish the Client’s Securities or Securities collateral to be lent or pledged, do not sign the above authorities and ask to open this type of cash ac...
RISK OF PROVIDING AN AUTHORITY TO REPLEDGE THE CLIENT’S SECURITIES COLLATERAL ETC a) There is risk if the Client provides the licensed or registered person with an authority that allows it to apply the Client’s securities or securities collateral pursuant to a securities borrowing and lending agreement, repledge the Client’s securities collateral for financial accommodation or deposit the Client’s securities collateral as collateral for the discharge and satisfaction of its settlement obligations and liabilities.
