Section 50
Single counterparty exposure limit for licensed person
of Financial Services Act 2013
ActIn forceProvision 50 of 124
Section 50
(1)
No licensed person shall have an exposure to a single counterparty which exceeds the limit as may be specified by the Bank under subsection 47(1).
(2)
An exposure to a single counterparty referred to in subsection (1) shall include an exposure to any group of persons connected to such single counterparty but shall not include any exposure to, and any exposure explicitly guaranteed by, the Bank or the Government.
(3)
For the purposes of this section, the Bank may specify what constitutes “connected”, “counterparty” or “exposure”.