Exemption from CMS licence requirement for providing custodial services
Persons who are exempted under Paragraph 6(1) of the Second Schedule, Securities and Futures (Licensing and Conduct of Business) Regulations.
Persons who are exempted under Paragraph 6(1) of the Second Schedule, Securities and Futures (Licensing and Conduct of Business) Regulations, including but not limited to the following, subject to specified conditions and restrictions:a. A trustee of a qualified arrangement in respect of specified products when carrying out his duties or managing and administering such arrangement.
b. A company or society registered under the Insurance Act when carrying on business in providing custodial services only in respect of units of any collective investment scheme.
Paragraph 6(1) of the Second Schedule, Securities and Futures (Licensing and Conduct of Business) Regulations