CLIENT IDENTITY. 10.1 In this Agreement,
(a) the expression “ultimate beneficiary”, in relation to any transaction effected or to be effected on markets operated by the SEHK and/or HKFE for the Client pursuant to this Agreement, means each and every person who
(i) is the principal for whom the Client is acting as agent in relation to such transaction or (ii) stands to gain the commercial or economic benefit of such transaction and/or to bear its commercial or economic risk or (iii) is ultimately responsible for giving the instruction in relation to such transaction and
(b) the expression “identity information”, in relation to any person, means the true and full identity of such person, including such person’s alias(es), address(es), occupation(s) and contact details.
10.2 If, in respect of any transaction effected or to be effected on the markets operated by the SEHK and/or HKFE for the Client pursuant to this Agreement, the Client is acting as agent and the Client is for any reason prevented from disclosing or providing to the Investment Manager identity information in respect of the ultimate beneficiary in respect of that transaction, the Client undertakes to provide such identity information to the relevant market, clearing house, or regulatory authority, including the SFC, the SEHK, HKFE, overseas exchanges and clearing houses or other governmental or regulatory authorities and entities (the “Relevant Regulators”) pursuant to any legal obligations and court orders directly within two business days (or such shorter period as the Relevant Regulators may reasonably specify for the purpose of this Clause 10.2) of receipt of a written request either from the Investment Manager or from the Regulators. The Client’s undertaking under this Clause 10.2 shall survive any termination of this Agreement.
10.3 If, in respect of any transaction effected or to be effected on the markets operated by SEHK and/or HKFE for the Client pursuant to this Agreement, the Client is acting as investment manager of any investment scheme, account or discretionary trust (or any other person) and the Client’s discretion is overridden by one or more of the beneficiaries of such scheme, account or trust (or such other person), the Client undertakes to (a) inform the Investment Manager of such arrangement and
