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14.72

In this Chapter and Chapter 14A:—

(1) "option" means the right, but not the obligation, to buy or sell something;

Notes: The term "option" for the purposes of this Chapter and Chapter 14A does not refer to:—
1. options, warrants and similar rights to subscribe for or purchase equity securities of a listed issuer under Chapter 15 of the Exchange Listing Rules;
2. structured products under Chapter 15A of the Exchange Listing Rules;
3. convertible equity securities under Chapter 16 of the Exchange Listing Rules;
4. options granted pursuant to a share option scheme under Chapter 17 of the Exchange Listing Rules;
5. options, warrants and similar rights to subscribe for or purchase debt securities of a listed issuer under Chapter 27 of the Exchange Listing Rules;
6. convertible debt securities under Chapter 28 of the Exchange Listing Rules; or
7. Options Contracts traded through the Options System as defined in the Options Trading Rules of the Exchange and the Options Clearing Rules of The SEHK Options Clearing House Limited.
(2) "exercise price" means the price at which the option holder is entitled to buy or sell the subject matter of the option;
(3) "premium" is the price paid and/or payable by an option holder to acquire an option; and
(4) "expiration" is the time at which the option can no longer be exercised.