Regarding two scenes, the HK DVD by Universe is shorter than the German Free TV broadcast from 12/23/2003.
German Free TV: 98:20 PAL excluding closing credits
HK DVD: 103:28 NTSC excluding closing credits
Cut HK DVD: ~12 seconds in 3 scenes

28:32
Shortly before Sai Yuk fights Siu Wan and jumps on the scaffold, shouts "I'll try!", whereupon Tiger Lui replies "Siu Wan, take him on."
6 sec.

84:18
After the injured Siu Wan has sent Sai Yuk and Ting Ting out the tent, one can longer see them standing outside the tent in the rain.
5 sec.

Update
There is another quick cut on the 'remastered' Universe DVD as the final fight begins - about half a second is missing when Fong grabs the rope (after the torch is thrown to it).
(Thx to Scott Napier for this Information)