This is possible if both regions are more complex shapes (not just one rectangle) that do not share any pixels. For example, the clip region could consist of the rectangles (693,5)-(694,6) and (762,27)-(763,28); and hregion could be (762,5)-(763,6) and (693,27)-(694,28).
You can use GetRegionData to determine the exact set of rectangles in the region.