Chapter 23 does not apply. The basic conditions which have to be met as a pre-requisite to the listing of debt securities issued by States are:—
(1) the nominal amount of each class of securities for which listing is sought must be at least HK$50,000,000, or such other amount as the Exchange may from time to time prescribe. Further issues of debt securities which are or are to be uniform in all respects with debt securities of a class already listed are not subject to this limit. In exceptional cases, a lower minimum nominal amount may be acceptable where the Exchange is satisfied as to marketability. In the case of options, warrants or similar rights to subscribe or purchase securities, the same limits will apply as would apply to the underlying securities to be subscribed or purchased;
(2) the debt securities for which listing is sought must be freely transferable; and
(3) all authorisations needed for the creation and issue of the debt securities for which listing is sought must have been duly given.