The Resolvability Review Tribunal (“RRT”) was established in accordance with Division 1 of Part 7 of the Financial Institutions (Resolution) Ordinance (Cap. 628) (“the Ordinance”) on 1 April 2018. The RRT has jurisdiction to review decisions made by a resolution authority in relation to directing a within-scope financial institution (or its holding company) to remove impediments to orderly resolution, loss-absorbing capacity requirements as prescribed in the relevant rules and related matters.
The Ordinance commenced operation on 7 July 2017. Under the Ordinance, the Monetary Authority, the Insurance Authority and the Securities and Futures Commission are the resolution authorities vested with a range of necessary powers to effect orderly resolution of non-viable systematically important financial institutions in Hong Kong such that risks posed by the non-viability of these financial institutions to the stability and effective operation of the Hong Kong financial system, including the continuity of critical financial services, can be mitigated. This is also to minimise risks posed to public funds as losses are imposed on the institution’s shareholders and creditors.
A sitting of the RRT shall consist of the Chairperson and two ordinary members to be appointed by the Financial Secretary on the recommendation of the Chairperson. According to the Ordinance, the sittings must be held in private.
Membership
Chairperson
(for the term from 1 April 2024 to 31 March 2027)
Mr Jonathan Chang Tien-yin, SC
Panel Members
(for the term from 1 April 2024 to 31 March 2026)
Mr Anthony Cheung Chun-yue
Mr Paul Chow Koon-ying
Mr Rix Chung Kwok-fai
Mr Praveen Mohan Daswani
Professor Hui Kai-lung
Dr Jia Hongrui
Ms Sammy Koo Chi-sum
Mr Gavin Lam Chi-wai
Mr Roy Leung Sze-kit
Ms Janet Li Tze-yan
Mr Mak Kwong-fai
Dr Annie Mok Yuet-ngo
Ms Fion Ng Siu-mui
Mr Tommy So Chung
Mr Alexander Tang Hing-lam
Ms Peggy Tse Pui-kei
Ms Fonia Wong Yeung-fong
Inquiries can be referred to the Secretariat:
Secretariat of the Resolvability Review Tribunal
24/F, Central Government Offices
2 Tim Mei Avenue
Tamar, Hong Kong
Telephone: 3655 4770