|Application Date||11 December 2017|
Bank of China (Hong Kong) Limited
Bank of China International Limited
The Bank of East Asia, Limited
Citibank (Hong Kong) Limited
Dah Sing Bank, Limited
DBS Bank (Hong Kong) Limited
Hang Seng Bank, Limited
The Hongkong and Shanghai Banking Corporation Limited
Industrial and Commercial Bank of China (Asia) Limited
JPMorgan Chase Bank, National Association
Orix Asia Limited
Public Finance Limited
Standard Chartered Bank (Hong Kong) Limited
The Hong Kong Association of Banks
The DTC Association
Application for a Decision
Notice of the Application
Form AD (non-confidential version)
Press release: Competition Commission publishes Decision in respect of the Code of Banking Practice
Commission Decision under section 11(1) of the Competition Ordinance
Statement of Reasons (non-confidential version)
|Summary of the Application||For the summary of the Application provided by the Applicants, please refer to paragraphs 1.3.1 to 1.3.4 of the Form AD (non-confidential version)|
On 11 December 2017, the Applicants submitted an application for a decision under section 9 of the Competition Ordinance in respect of the Code of Banking Practice (“Code”).
The Applicants sought a decision confirming that the first conduct rule under section 6 of the Ordinance does not apply to the giving effect of the Code by the Applicants by virtue of the exclusion in section 2 (Compliance with legal requirements) of Schedule 1 to the Ordinance.
In accordance with the procedure established in section 10 of the Competition Ordinance, the Commission published a notice of the application on 5 January 2018 and requested interested parties to submit representations on the application to it.
Having considered the Application, as well as the representations and submissions about the Application that were made to it, the Commission has made the decision that the Code is not excluded from the application of the first conduct rule by or as a result of section 2 (Compliance with legal requirements) of Schedule 1 to the Ordinance.
Investor Education Centre dated 08.02.2018
Daniel T. C. Lee dated 14.02.2018
Monetary Authority dated 02.2018
Hong Kong Federation of Insurers dated 01.03.2018
Consumer Council dated 15.03.2018
P Y Lo dated 16.03.2018