Primary text ↗Verified
Dates
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In force from
Key provisions
6 in the graphThe article’s own text, quoted verbatim from the primary source below — a citable fact, not a summary. No plain-English explanation is shown: writing one would be legal analysis nobody sourced (docs/RULES.md R1). That register is reserved should sourced explanations be added later, and will never share this card’s styling.
Section 2A(1) (Interpretation: stored value facility)
prov:hk-pssvfo-s2a
ARTICLE TEXT — VERBATIM, TIER B
For the purposes of this Ordinance, a facility is a stored value facility if— source
PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
Section 2B(1) (Interpretation: facilitator)
prov:hk-pssvfo-s2b
ARTICLE TEXT — VERBATIM, TIER B
For the purposes of this Ordinance, a person facilitates the issue of a stored value facility if the person— source
PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
Section 8B(1)–(2) (Restriction relating to issue, etc. of stored value facilities)
prov:hk-pssvfo-s8b
ARTICLE TEXT — VERBATIM, TIER B
A person must not issue a stored value facility unless the issue of the facility is authorized by a licence held by the person. source
PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
Schedule 3, Part 2, section 1 (Principal business)
prov:hk-pssvfo-sch3-pt2-s1
ARTICLE TEXT — VERBATIM, TIER B
The principal business of the applicable company must be— source
PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
Schedule 3, Part 2, section 2 (Financial resources)
prov:hk-pssvfo-sch3-pt2-s2
ARTICLE TEXT — VERBATIM, TIER B
the applicable company’s paid-up share capital is not less than— (i)$25,000,000; or (ii)an equivalent amount in any other currency that is freely convertible into Hong Kong dollars or is approved by the Monetary Authority for the purposes of this section; source
PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
Backs requirement minimumCapital
Schedule 3, Part 2, section 7 (Management of float and SVF deposit)
prov:hk-pssvfo-sch3-pt2-s7
ARTICLE TEXT — VERBATIM, TIER B
is kept separate from any other funds paid to or maintained or received by the applicable company; and source
PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
Backs requirement safeguardingRequired
National regimes implementing it
1 regimesOne statute, implemented differently by each regime below — the same directive granting different activities, client types and capital figures market by market.
WhereAuthorityRegimeCapital · transitionFirms
HKHong Kong Monetary AuthorityStored Value Facility Licence / Hong Kong / PSSVFOIssue electronic money, Execute payment transactions (direct debits, card payments, credit transfers)HKD 25,000,000 source6–18 months source4
Sources
Section 2A(1) (Interpretation: stored value facility)Payment Systems and Stored Value Facilities Ordinance (Cap. 584)https://www.elegislation.gov.hk/hk/cap584!en/s2A
Section 2B(1) (Interpretation: facilitator)Payment Systems and Stored Value Facilities Ordinance (Cap. 584)https://www.elegislation.gov.hk/hk/cap584!en/s2B
Section 8B(1)–(2) (Restriction relating to issue, etc. of stored value facilities)Payment Systems and Stored Value Facilities Ordinance (Cap. 584)https://www.elegislation.gov.hk/hk/cap584!en/s8B
Schedule 3, Part 2, section 1 (Principal business) · Schedule 3, Part 2, section 2 (Financial resources) · Schedule 3, Part 2, section 7 (Management of float and SVF deposit)Payment Systems and Stored Value Facilities Ordinance (Cap. 584)https://www.elegislation.gov.hk/hk/cap584!en/sch3
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