SFO and related ordinances

Legislative amendments to the SFO and related ordinances

Amended by	Gazette	Description	Legislative Council Brief	Consultation Paper	Consultation Conclusions
Securities and Futures Ordinance	Ord. No.5 of 2002 (Originally)		PDF	----	----
Interpretation and General Clauses Ordinance	L.N. 106 of 2002	Consequential amendments to section 1(2), section 406(1), Schedule 8 and Schedule 10 of SFO relating to “Secretary”	----	----	----
Securities and Futures Ordinance (Amendment of Schedule 10) Order 2002	L.N. 226 of 2002	Amendments to Schedule 10 of SFO	----	----	----
Securities and Futures Ordinance (Amendment of Schedule 8) Order 2002	L.N. 231 of 2002	Amendments to Schedule 8 of SFO	----	----	----
Law Amendment and Reform (Miscellaneous Provisions) Ordinance 2003	Ord. No.14 of 2003	Amendment to Schedule 1, in Part 1, in section 1 of SFO, the definition of “the Commissioner of ICAC”	PDF	----	----
Companies (Amendment) Ordinance 2003	Ord. No.28 of 2003	Consequential amendments to section 51(3) of SFO	PDF	----	----
Rectification of Errors Order 2004	L.N. 29 of 2004	Amendments to section 409 of SFO	----	----	----
Deposit Protection Scheme Ordinance	Ord. No.7 of 2004	Amendments to Part XII of SFO regarding the restriction on entitlement to compensation	PDF	----	----
Professional Accountants (Amendment) Ordinance 2004	Ord. No.23 of 2004	Consequential amendments to sections 23, 174(2)(a), 175, 378 and Schedule 1, Part 1, section 1, Schedule 5, Part 2 and Schedule 7 of SFO	PDF	----	----
Companies (Amendment) Ordinance 2004	Ord. No.30 of 2004	Consequential amendments to sections 103, 116(2)(a)(i) & (iii), 148(2)(d), 164(3)(c), 175, 193(1), 400(c) and Schedule 1, Part 1, section 1 and Schedule 10 of SFO	PDF	PDF (03.2003) PDF (08.2004)	PDF (11.2003) PDF (11.2004)
Statutes Law (Miscellaneous Provisions) Ordinance 2005	Ord. No.10 of 2005	Consequential amendments to SFO	PDF	----	----
Securities and Futures Ordinance (Amendment of Schedule 5) Notice 2005	L.N. 197 of 2005	Amendments to Schedule 5 of SFO	----	PDF (02.2005)	PDF (09.2005)
Securities and Futures (Amendments) Ordinance	Ord. No.15 of 2006	Amendments to sections 11(1), 15(2)(b), 240(4), Part 1 of Schedule 1 and Part 1 of Schedule 2 of SFO	PDF	PDF (01.2005)	PDF (05.2005)
Financial Reporting Council Ordinance	Ord. No.18 of 2006	Consequential amendments to section 257(1) and 378(3)(f) of SFO	PDF	----	----
Companies (Amendment) Ordinance 2010	Ord. No.12 of 2010	Amendments to section 397 of SFO	PDF	----	----
Securities and Futures Ordinance (Amendment of Schedule 5) Notice 2011	L.N. 28 of 2011	Amendment to SFO, Schedule 5, Part 2 by adding credit rating companies	----	PDF (02.2009)	PDF (07.2009)
Securities and Futures and Companies Legislation (Structured Products) Ordinances	Ord. No.8 of 2011	Amendments to sections 102-108, 111, 182, 213, 379, 392, 407, Schedule 1, Schedule 8 and Schedule 10 of SFO	PDF	PDF (10.2009) PDF (01.2010) PDF (07.2010)	PDF (04.2010) PDF (06.2010) PDF (10.2010)
Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) Ordinance	Ord. No. 15 of 2011	Consequential amendments to sections 13, 180, 378 and Schedule 1 of SFO	PDF	PDF (09.2011)	PDF (01.2012)
Securities and Futures (Amendment) Ordinance 2012	Ord. No. 9 of 2012	Adding new section of Part XIVA	PDF	PDF (03.2010)	PDF (02.2011)
Securities and Futures Ordinance (Amendment of Schedule 1) Notice 2012	L.N.94 of 2012	Amendment to SFO, Schedule 1, Parts 2 & 3	----	----	----
Companies Ordinance	Ord. No. 28 of 2012	Consequential Amendments to SFO, Schedule 1, Schedule 5, Schedule 7, Schedule 8, Schedule 10 of the SFO, SF (Licensing and Registration)(Information) Rules - Cap.571S, SF (Miscellaneous) Rules - Cap.571U, SF (Price Stabilizing) Rules - Cap.571W, SF (Contracts Limits and Reportable Positions) Rules - Cap.571Y, SF (Levy) Rules - Cap.571AA, SF (Investor Compensation-Levy) Rules- Cap.571AB, SF (Transfer of Functions-Investor Compensation Company) Order - Cap.571AD, SF (Transfer of Functions-Stock Exchange Company) Order - Cap.571AE, SF (Fees) Rules - Cap.571AF, SF (Disclosure of Interests-Exclusions) Regulation - Cap.571AG	PDF	----	----
Securities and Futures (Amendment) Ordinance 2014	Ord. No. 6 of 2014	Amendments to the SFO in relation to OTC Derivative Transactions - Reporting, Clearing, Trading, Record Keeping Obligations, Powers of Monetary Authority of Investigation and Disciplinary Action by Monetary Authority and also amendments relating to protections under Part III of the SFO. Amendments relating to Electronic Filing and Disgorgement Orders for Market Misconduct Offences are in Part 4 and Part 5 of the Amendment Ordinance	PDF	----	----
Securities and Futures (Amendment) Ordinance 2014 (Commencement) Notice 2016	L.N. 27 of 2016	Commencement Notice of specific sections of Securities and Futures (Amendment) Ordinance 2014	----	----	----
Securities and Futures and Companies Legislation (Uncertificated Securities Market Amendment) Ordinance 2015	Ord. No. 5 of 2015	Amendments to the SFO (in particular, amended the SFO by adding Part IIIAA) to facilitate the establishment and implementation of an uncertificated securities market regime in Hong Kong Also, amendments to the Companies Ordinance and other enactments are in Part 3 and Part 4 of the Securities and Futures and Companies Legislation (Uncertificated Securities Market Amendment) Ordinance 2015	PDF	----	----
Insurance Companies (Amendment) Ordinance 2015	Ord. No. 12 of 2015	Consequential Amendments to sections 129, 179, 180, 308, 378, 381, Schedule 1 and Schedule 5 of the SFO Also, there are consequential amendments to section 2 of the SF (Investor Compensation - Claims) Rules (Cap.571T) and section 2 of the SF (Insurance) Rules (Cap.571AI)	----	----	----
Securities and Futures (Amendment) Ordinance 2015	Ord. No. 19 of 2015	Amendments to the SFO in relation to Printed Licences and Certificates of Registration; SF (Licensing and Registration) (Information) Rules; SF (Miscellaneous) Rules; SF (Fees) Rules; SF (Levy) Order and relating to Supervisory Assistance to Regulators outside Hong Kong and Disclosure of Information by Recognized Exchange Company.	PDF	----	----
Fixed Penalty (Public Cleanliness Offences) (Amendment) Ordinance 2016	Ord. No. 4 of 2016	Consequential Amendment of the definition of minor offence in section 2(1) of the SFO	----	----	----
Securities and Futures Ordinance (Amendment of Schedule 1) Notice 2016	L.N. 59 of 2016	Amendments in relation to the Schedule 1 of the SFO	----	----	----
Companies (Winding Up and Miscellaneous Provisions) (Amendment) Ordinance 2016	Ord. No. 14 of 2016	Consequential Amendments to sections 50 and 51 of the SFO	----	----	----
Securities and Futures (Amendment) Ordinance 2016	Ord. No. 16 of 2016	Amendments to sections 36, 56 and 103 and adding Part IVA of the SFO	----	----	----
Financial Institutions (Resolution) Ordinance	Ord. No. 23 of 2016	Consequential Amendments to sections 10, 307B, 310, 341, 378, 381B, Schedule 1 part 1 and Schedule 2 of the SFO	----	----	----
Anti-Money Laundering and Counter-Terrorist Financing (Financial Institutions) (Amendment) Ordinance 2018	Ord. No. 4 of 2018	Consequential Amendments to sections 130, 180, 378, 381B and Schedule 1 of the SFO	----	----	----

To view the current and previous versions of the amended provisions of the Securities and Futures Ordinance (SFO), its subsidiary legislation and related ordinances, please refer to the Hong Kong e-Legislation (HKeL) operated by the Department of Justice (DoJ) of the Hong Kong Special Administrative Region Government.

Disclaimer: How content is arranged in HKeL is solely the remit of DoJ. The SFC has no control over and takes no responsibility for the availability and searchability of such information.

Derivation table

The derivation table contains some old provisions from which the various sections of Securities and Futures Ordinance (SFO) were derived. Equivalent clauses of the Blue Bill (including clauses added during the Committee Stage of Legislative Council deliberations) are also given in the table.

Transitional materials

Securities and Futures Bill and background documents

Document	Date
SFC Publication - The Securities and Futures Bill (PDF)	Dec 2000
Legislative Council Brief - Regulatory Reform for the Securities and Futures Market - The Securities and Futures Bill (PDF)	Nov 2000
Consultation Paper on the Securities and Futures Bill (PDF)	Apr 2000
Securities and Futures Bill - White Bill (PDF)	Apr 2000
Overview Guide to the Proposed Securities and Futures Bill (PDF)	Jul 1999
Guide to Legislative Proposals and Objectives, Powers and Functions of the Securities and Futures Commission (PDF)	Jul 1999
Guide to Legislative Proposals on Offers of Investments (PDF)	Jul 1999
Consultation Paper on Review of Licensing Regime (PDF)	Jun 1999
Guide to Legislative Proposals on Automated Trading Systems and Related Issues (PDF)	Jul 1999
Guide to Legislative Proposals on Supervision and Investigation of Listed Companies and Intermediaries (PDF)	Jul 1999
Guide to Legislative Proposals on the Disciplinary Powers of the Securities and Futures Commission (PDF)	Jul 1999
Guide to Legislative Proposals on Powers of Intervention and Proceedings (PDF)	Jul 1999
Guide to Legislative Proposals on Establishing a Securities and Futures Appeals Tribunal (PDF)	Jul 1999
Guide to Legislative Proposals on Establishing a Market Misconduct Tribunal (PDF)	Jul 1999

Securities and Futures Bill (1996/97 Draft) and consultation documents

Document	Date
Main Proposed Revisions to a Draft for a Composite Securities and Futures Bill	6 Jan 1997
A Consultation Paper on a Draft for a Composite Securities and Futures Bill	Apr 1996
Draft for a Securities and Futures Bill (PDF)	15 Jul 1996

Consultation documents on subsidiary legislation under the Securities and Futures Bill

	Enabling provision in the Securities and Futures Ordinance	Subsidiary Legislation	Consultation Paper/ Commencement of Consultation/Close of Consultation	Consultation Conclusion Paper	LegCo Brief on Subsidiary Legislation	Gazetted Version
		Part III
1.	Section 25(1)	(Transfer of Functions - Stock Exchange Company) Order	Begins: 06.05.02 Ends: 07.06.02	24.07.02	PDF	13.12.02
2.	Section 35(1)	(Contracts Limits and Reportable Positions) Rules	Begins: 28.03.02 Ends: 16.04.02 Begins: 17.09.03 Ends: 15.10.03	19.04.02	PDF	13.12.02 05.03.04 (Contracts Limits and Reportable Positions) (Amendment) Rules 2004
		Guidance Note on Position Limits and Large Open Position Reporting Requirements	Begins: 24.01.03 Ends: 25.02.03 Begins: 17.09.03 Ends: 15.10.03			02.03.04 Proposed amendments to the Guidance Note on Position Limits and Large Open Position Reporting Requirements
3.	Section 36(1)	(Stock Market Listing) Rules	Begins: 06.05.02 Ends: 07.06.02 Begins: 07.01.05 Ends: 31.03.05	24.07.02	PDF	13.12.02
4.	Section 80(1)	(Transfer of Functions - Investor Compensation Company) Order	Begins: 28.03.02 Ends: 25.04.02	05.06.02	PDF	13.12.02
		Part V
5.	Section 116(5)	(Insurance) Rules	Begins:26.06.02 Ends: 25.07.02	13.09.02	PDF	17.01.03
6.	Section 118(2)	(LFET (Arbitration)) Rules	Begins:28.03.02 Ends: 16.04.02	19.04.02	PDF	29.11.02
7.	Sections 128(3), 135(3), 136(2) & 397	Licensing and Registration) (Information) Rules formerly named (Intermediary Information) Rules formerly named (Licensed Persons and Registered Institutions) Rules	Begins: 19.07.02 Ends: 08.08.02 Begins: 16.11.01 Ends: 17.12.01	13.09.02 18.04.02	PDF PDF (Annex)	13.12.02
		Part VI
8.	Section 145(1)	(Financial Resources) Rules	Begins:14.06.02 Ends: 12.07.02	11.10.02	PDF	13.12.02
9.	Section 148(1)	(Client Securities) Rules	Begins: 12.04.01 Ends: 24.05.01	11.07.02	PDF	06.12.02
10.	Section 149(1)	(Client Money) Rules	Begins: 12.04.01 Ends: 24.05.01	11.07.02	PDF	06.12.02
11.	Section 151(1)	(Keeping of Records) Rules	Begins: 15.02.02 Ends: 15.03.02	11.07.02	PDF	13.12.02
12.	Section 152(1)	(Contract Notes, Statements of Account and Receipts) Rules formerly named (Contract Notes, Receipts and Statements of Account) Rules	Begins: 28.09.01 Ends: 09.11.01	06.06.02	PDF	13.12.02
13.	Sections 156(1) & 397(1)	(Accounts and Audit) Rules	Begins: 21.12.01 Ends: 31.01.02	11.07.02	PDF	13.12.02
14.	Sections 165(1) & 397(1)	(Associated Entities - Notice) Rules formerly named (Associated Entities) Rules	Begins: 22.03.02 Ends: 19.04.02	30.05.02	PDF	06.12.02
		Part VII
15.	Sections 170(3)(e) & 397(1)	(Short Selling and Securities Borrowing and Lending (Miscellaneous)) Rules formerly named (Short Selling Exemption and Stock Lending) Rules	Begins: 24.05.02 Ends: 21.06.02	11.07.02	PDF	13.12.02
16.	Sections 174(3)(d) & 397(1)	(Unsolicited Calls - Exclusion) Rules	Begins: 19.10.01 Ends: 19.11.01	15.03.02	PDF	29.11.02
		Part IX
17.	Sections 194(5) & 397(1)	(Registration of Commission Disciplinary Orders) Rules formerly named (Registration of Disciplinary Orders) Rules	Begins: 27.03.02 Ends: 24.04.02	05.06.02	PDF	29.11.02
		Part XI
18.	Section 233(d)	(Securities and Futures Appeals Tribunal) Rules
19.	Sections 226 & 233(b)	(Registration of Appeals Tribunal Orders) Rules formerly named (Appeals Tribunal - Registration of Orders) Rules	See the consultation paper on the (Registration of Commission Disciplinary Orders) Rules *Item 17	See the consultation conclusion paper on the (Registration of Commission Disciplinary Orders) Rules *Item 17	PDF	06.12.02
20.	Section 234	(Amendment of Schedule 8) Order 2002 formerly named (Amendment of Schedule 8) Order	Begins: 05.08.02 Ends: 26.08.02	12.09.02	PDF	13.12.02
		Part XII
21.	Section 244(1)	(Investor Compensation - Levy) Rules formerly named (Investor Compensation) Rules	Begins: 28.03.02 Ends: 25.04.02	05.06.02	PDF	13.12.02
22.	Section 244(1)	(Investor Compensation - Compensation Limits) Rules	Begins: 28.03.02 Ends: 25.04.02	05.06.02	PDF	13.12.02
23.	Section 244(2)	(Investor Compensation - Claims) Rules formerly named (Investor Compensation - Miscellaneous) Rules	Begins: 28.03.02 Ends: 25.04.02	05.06.02	PDF	13.12.02
		Part XIII
24.	Sections 264 & 269(b)	(Registration of Market Misconduct Tribunal Orders) Rules formerly named (Market Misconduct Tribunal - Registration of Orders) Rules	See the consultation paper on the (Registration of Commission Disciplinary Orders) Rules *Item 17	See the consultation conclusion paper on the (Registration of Commission Disciplinary Orders) Rules *Item 17	PDF	06.12.02
25.	Sections 282(1) & 306(1)	(Price Stabilizing) Rules formerly named Market Misconduct (Exemption for Stabilization Activities) Rules	Begins: 08.02.02 Ends: 08.03.02	09.07.02	PDF	13.12.02 12.12.03 (Price Stabilizing) (Amendment) Rules
		Part XV
26.	Section 376(1)(b)	(Disclosure of Interests - Exclusions) Regulations	Begins: 16.05.02 Ends: 08.06.02	12.07.02	PDF	13.12.02
27.	Section 377	(Disclosure of Interests - Securities Borrowing and Lending) Rules	Begins: 19.12.01 Ends: 26.01.02	12.07.02	PDF	13.12.02
		Notice of Recognition of Places
		List of approved lending agents
		Part XVI
28.	Section 393	(Collective Investment Schemes) Notice formerly named (Gold Purchase) Notice	Begins: 25.03.02 Ends: 22.04.02	03.06.02	PDF	06.12.02
29.	Section 394(1)	(Levy) Order	Begins: 03.04.02 Ends: 30.04.02	05.06.02	PDF	13.12.02
30.	Section 394(5)	(Levy) Rules	Begins: 03.04.02 Ends: 30.04.02	05.06.02	PDF	13.12.02
31.	Section 395	(Fees) Rules	Begins: 30.07.02 Ends: 24.08.02	16.09.02	PDF	13.12.02
		Proposed Licensing Fees under the Securities and Futures (Fees) Rules	Begins: 08.03.02 Ends: 08.04.02	30.07.02
32.	Sections 397(1)	(Miscellaneous) Rules	Begins: 02.07.02 Ends: 26.07.02	12.09.02	PDF	13.12.02
33.	Section 397(1)	(LFET - Exemption) Rules	Begins: 05.06.02 Ends: 26.06.02	11.07.02	PDF	29.11.02
34.	Section 397(1)	(Professional Investor) Rules	Begins: 01.02.02 Ends: 28.02.02	04.06.02	PDF	29.11.02
35.	Section 397(1)	(Recognized Counterparty) Rules	Begins: 30.11.01 Ends: 29.12.01	23.04.02	PDF	29.11.02
36.	Section 397(1)	(Exempted Instruments - Information) Rules formerly named (Information) Rules	Begins: 19.03.02 Ends: 16.04.02	19.04.02	PDF	29.11.02
37.	Section 398(6)	(Offences and Penalties) Regulations	Begins: 26.07.02 Ends: 16.08.02	13.09.02	PDF	13.12.02
		Part XVII
38.	Section 409	(Amendment of Schedule 10) Order 2002			PDF	13.12.02
	Others
39.		Companies Ordinance (Exemption of Companies and Prospectuses from Compliance with Provisions) (Amendment) Notice 2002			PDF	06.12.02
40.		SFO (Cap.571) (Commencement) Notice				17.01.03
41.		SFO (Cap.571) (Appointment of Day - Repeal of Ordinances) Notice				17.01.03
42.		SFO (Cap.571) (Appointment of Day - Unified Exchange Compensation Fund) Notice				17.01.03
43.		SFO (Cap.571) (Appointment of Day - Futures Exchange Compensation Fund) Notice				17.01.03

Others

Date	Documents
06.12.2002	Companies Ordinance (Exemption of Companies and Prospectuses from Compliance with Provisions) (Amendment) Notice 2002
17.01.2003	SFO (Cap.571) (Commencement) Notice
17.01.2003	SFO (Cap.571) (Appointment of Day - Repeal of Ordinances) Notice
17.01.2003	SFO (Cap.571) (Appointment of Day - Unified Exchange Compensation Fund) Notice
17.01.2003	SFO (Cap.571) (Appointment of Day - Futures Exchange Compensation Fund) Notice

Last update: 12 May 2021