11 Nov 2021
On 27 August 2021, the Financial Institutions (Resolution) (Contractual Recognition of Suspension of Termination Rights — Banking Sector) Rules (Cap. 628C, Laws of Hong Kong, the "Stay Rules") came into force, requiring "covered entities" to include provisions in certain non-HK law governed "financial contracts" to the effect that the contractual parties agree to be bound by any suspension of termination rights that may be imposed by the Hong Kong Monetary Authority.
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Elton Chan Partner
T: +852 2533 2726 M: +852 9350 9218 Email Elton | Vcard Office: Hong Kong
James Wong Associate
T: +852 3166 6933 M: +852 9447 7337 Email James | Vcard Office: Hong Kong