3
Clause
(b)
Amendment Proposed
is given by a mother bank
incorporated in Hong Kong or a
bank established in a country,
state or place where there is
a banking supervisory authority
and that bank is, in the
opinion of the Commissioner,
adequately supervised by that
authority; and
(c) has been given pursuant to a
resolution of the board of
directors of the other bank and
with the knowledge of the
banking supervisory authority
of the country, state or place
where the other bank is
incorporated.
(3) In accepting any letter of
comfort under subsection (2) the
Commissioner
<
(a) shall limit the aggregate amount
of any advances, loans, facilities
guarantees or liabilities
which the bank may make, grant
or incur to such aggregate