(3) Financial resources rules may provide that the rules or any
provision thereof shall not apply, or shall apply with such
modifications or only in such circumstances as shall be specified in
the rules, to persons who have and maintain financial resources (in
Hong Kong or elsewhere) in accordance with an authorization of an
authority (in Hong Kong or elsewhere) which in the opinion of the
Commission performs any function which is similar to a function
conferred on the Commission by this section.
Modification of financial resources rules in particular cases
27. (1) The Commission may, on the application of any person
to whom financial resources rules apply, give a direction in writing
altering the requirements of the rules so as to adapt them, subject
to such conditions as may be specified in the direction, to the
circumstances of that person or of any particular kind of business
carried on, or to be carried on, by him.
(2) Where any direction is given under subsection (1) in
relation to any person, notice that it has been so given shall be
published in the Gazette and the financial resources rules shall have
effect in relation to that person in conformity with such direction.
(3)
The Commission shall not give a direction under subsection
(1) unless it appears to it that
(a)
compliance with the requirements in question would be
unduly burdensome for the applicant having regard to the
benefit which compliance would confer on investors; and