With effect from 11 July 2016, the Securities and Futures Ordinance (Cap 571 of the laws of Hong Kong) (SFO) will be amended to extend the SFO definition of “multilateral agency” to the Asian Infrastructure Investment Bank (AIIB).  This amendment means the AIIB will be able to enjoy certain statutory benefits that are made available to each entity that comes within the SFO definition of multilateral agency.  In particular, as a multilateral agency, the AIIB will enjoy a statutory exemption from compliance with the SFO product offering regime under Part IV of the SFO and the AIIB will come within the SFO definition of “professional investor”.

The AIIB is a multilateral development bank which supports infrastructure development in Asia with a view to expanding regional connectivity and improving regional integration.