HKSI Institute AR2021

NOTES TO THE FINANCIAL STATEMENTS 財務報表附註 (Expressed in Hong Kong dollars unless otherwise indicated) （除非另有註明，否則均以港幣列示） 98 Hong Kong Securities and Investment Institute Annual Report 2021 20 Commitments (a) Capital commitments outstanding at 31 March 2021 not provided for in the financial statements were as follows: 2021 2020 Contracted for 已訂約 $ 177,750 $ 565,500 $ 177,750 $ 565,500 (b) Total future minimum lease payments under non-cancellable operating leases were payable as follows: 2021 2020 Within 1 year 一年內 $ 86,596 $ – $ 86,596 $ – 21 Contingent liability A part of the grants received by the Institute from the SFC is subject to a repayment clause. HKSI is required to repay HK$5 million or the total grant received, whichever is lower, to the SFC in any given year upon the HKSI’s attainment of a reserve (i.e. the General Fund of the Institute) amounting to the higher of (a) HK$50 million or (b) two years of operating expenses, as reflected in the Institute’s annual accounts. Based on a 5 year forecast regarding the financial performance of the Institute, the management do not believe it probable that the Institute will attain the level of reserve that will trigger the repayment clause in the foreseeable future. No provision has therefore been made in respect of the repayment. 22 Material related party transactions Apart from the balances disclosed elsewhere in these financial statements, the Institute received annual membership fees of HK$31,700 (2020: HK$19,020) from the directors of the Institute during the year. 20 承擔 (a) 於二零二一年三月三十一日，尚未 在財務報表提撥的資本承擔如下： (b) 根據不可解除的經營租賃在日後應 付的最低付款總額如下： 21 或有負債 作為本會收到香港證監會的撥款的一部 分，該撥款遵循償還條款。如果香港證 券及投資學會任一年度的儲備（即本會的 普通基金）達到高於其年度報表所列示的 港幣五千萬元或兩年的營業費用，香港 證券及投資學會按要求應向香港證監會 償還港幣五百萬元或獲得的撥款總額（以 孰低者為準）。基於本會財務業績的五年 預測，管理層認為本會在可預見的未來 內不太可能達到履行償還條款的水準。 因此，本會沒有就這項還款提撥任何撥 備。 22 重大關聯方交易 本財務報表他處披露的待結款項外，本 會收到源自本會董事為數港幣 31,700 元 的會員年費（二零二零年：港幣 19,020 元）。