ISDA has prepared this list of frequently asked questions to assist in your consideration of the HONG KONG JURISDICTIONAL MODULE to the ISDA RESOLUTION STAY JURISDICTIONAL MODULAR PROTOCOL (the ISDA Jurisdictional Modular Protocol).

THESE FREQUENTLY ASKED QUESTIONS DO NOT PURPORT TO BE AND SHOULD NOT BE CONSIDERED A GUIDE TO OR AN EXPLANATION OF ALL RELEVANT ISSUES OR CONSIDERATIONS IN CONNECTION WITH THE HONG KONG JURISDICTIONAL MODULE. PARTIES SHOULD CONSULT WITH THEIR LEGAL ADVISERS AND ANY OTHER ADVISER THEY DEEM APPROPRIATE PRIOR TO USING OR ADHERING TO THE HONG KONG JURISDICTIONAL MODULE. ISDA ASSUMES NO RESPONSIBILITY FOR ANY USE TO WHICH ANY OF ITS DOCUMENTATION MAY BE PUT.

These FAQs address the following questions:

• What is the purpose of the Hong Kong Jurisdictional Module?
• How does adherence to the Hong Kong Jurisdictional Module and the ISDA Jurisdictional Modular Protocol work?
• How does the Hong Kong Jurisdictional Module relate to the Hong Kong Regulation?
• Why are certain terms in italics and others in quotation marks?
• What agreements are Covered Agreements under the Hong Kong Jurisdictional Module?
• What entities are Regulated Entities under the Hong Kong Jurisdictional Module?
• When does the Hong Kong Jurisdictional Module become effective?
• What are the compliance dates for the Hong Kong Regulation?
• How do I sign up to the Hong Kong Jurisdictional Module?

The ISDA Jurisdictional Modular Protocol is designed to facilitate market participants’ compliance with regulations regarding contractual stays in certain financial contracts not governed by Hong Kong law. As regulations are adopted in a jurisdiction, a “Jurisdictional Module” to the ISDA Jurisdictional Modular Protocol can be published that includes operational provisions based on the text of that regulation and aimed at enabling parties to comply with those requirements. A party can adhere to a particular Jurisdictional Module by submitting an Adherence Letter for such Jurisdictional Module. Each Jurisdictional Module is considered individually. For more information on the ISDA Jurisdictional Modular Protocol and adherence to the ISDA Jurisdictional Modular Protocol, please see the general FAQs for the ISDA Jurisdictional Modular Protocol.

The Hong Kong Jurisdictional Module was published as a Jurisdictional Module to the ISDA Jurisdictional Modular Protocol on 24 September 2021.

You can download the full FAQ here.