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19.72

In this Chapter and Chapter 20:—

(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 20 does not refer to:—
1. options, warrants and similar rights to subscribe for or purchase equity securities of a listed issuer under Chapter 21;
2. convertible equity securities under Chapter 22;
3. options granted pursuant to a share option scheme under Chapter 23;
4. options, warrants and similar rights to subscribe for or purchase debt securities of a listed issuer under Chapter 33;
5. convertible debt securities under Chapter 34; or
6. 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.