| Case Number | AD/01XX |
| Application Date | 11 December 2017 |
| Applicant(s) |
Bank of China (Hong Kong) Limited Bank of China International Limited The Bank of East Asia, Limited BNP Paribas 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 |
| Related Parties |
The Hong Kong Association of Banks The DTC Association |
| Relevant Documents |
Application for a Decision Notice of the Application Form AD (non-confidential version)
Commission Decision
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)
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| 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) |
| Current Status |
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. |
| Representations received |
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 |