Regulation 2

In these Regulations, unless the context otherwise requires —“Act” means the Securities and Futures Act (Cap. 289);“exempt financial institution” means a financial institution exempt under section 99(1)(a), (b), (c) or (d) of the Act from the requirement to hold a capital markets services licence to carry out any regulated activity;“exempt representative”, in relation to an exempt financial institution, means a representative carrying out any regulated activity under the Act on behalf of the exempt financial institution, being a type of regulated activity for which the institution is an exempt financial institution;“licensed representative” means the holder of a licence granted under section 87 of the Act in force immediately before 26th November 2010, which was in force immediately before that date;“licensed temporary representative” means the holder of a licence granted under section 87A of the Act in force immediately before 26th November 2010, which was in force immediately before that date.