BANKING
Ord. No. 27/86
A219
A218
Ord. No. 27/86
BANKING
$
Repeal.
(Cap. 155.) (Cap. 328.)
on and from that commencement, be deemed at all times to have been accepted under paragraph (c) of the proviso to section 81(2), and the provisions of this Ordinance shall, subject to subsection (4), apply accordingly.
(4) Where the former Commissioner had not, before the commencement of this Ordinance, exercised his powers under section 22(6) of the former Deposit-taking Companies Ordinance in relation to the former deposit-taking company for which a letter of comfort referred to in subsection (3) was provided, then, on and from that commencement, and until such time as the Commissioner exercises his powers under section 81(7) in relation to the deposit-taking company for which the letter of comfort is provided, the provisions of section 81(5) shall not apply in relation thereto.
(5) Where at the commencement of this Ordinance the financial exposure of an authorized institution to any persons exceeds that which is permitted by section 81, but would not do so if no account were taken of investments (as defined in subsec- tion (10) of that section) that were made by the institution before such commence- ment, then those investments may be disregarded for the purposes of calculating the financial exposure of the institution under that section for-
(a) a period of not more than 3 months from the commencement of this
Ordinance; or
(b) such longer period as may be approved by the Commissioner in writing in
any particular case,
provided that the institution does not in any such period further increase its financial exposure, within the meaning of that section, to the same persons.
149. The Banking Ordinance and the Deposit-taking Companies Ordinance and all subsidiary legislation made under either of those Ordinances are repealed.
10. Fee for the establishment of a local branch of a deposit-taking
company (section 45(1))
11. Annual fee for maintaining a local branch of a deposit-taking
company (section 45(1) and (2))
7. Fee for a copy or extract, per page (section 27(3))
5
8. Fee for the establishment of a local branch of a bank (section 45(1)) 9. Annual fee for maintaining a local branch of a bank (section 45(1)
and (2))
17,000
17,000
8,500
8,500
12. Fee for the establishment of a local representative office (section
48(1))
17,000
13. Annual fee for maintaining a local representative office (section
48(1), (2) and (3))
17,000
14. Fee for the establishment of an overseas branch of a bank (section
51(1))
34,000
3
15. Annual fee for maintaining an overseas branch of a bank (section
51(1) and (2))
34,000
16. Fee for the establishment of an overseas branch of a deposit-taking
company (section 51(1))
17,000
17. Annual fee for maintaining an overseas branch of a deposit-taking
company (section 51(1) and (2))
17,000
18. Fee for the establishment of an overseas representative office of a
bank (section 51(1)).
8,500
FIRST SCHEDULE
SPECIFIED SUM
[ss. 14 & 135(1).]
19. Annual fee for maintaining an overseas representative office of a
bank (section 51(1) and (2))
8,500
20. Fee for the establishment of an overseas representative office of a
deposit-taking company (section 51(1))
8,500
1. The sum for the purposes of section 14(1)(a) is $100,000 or an equivalent amount
in any other currency.
2. The sum for the purposes of section 14(1)(b) is $500,000 or an equivalent amount
in any other currency.
22. Annual banking licence fee for unincorporated bank (section 109(1))
21. Annual fee for maintaining an overseas representative office of a
deposit-taking company (section 51(1) and (2))
8,500
5,000
SECOND SCHEDULE
[ss, 19, 23, 26, 27, 45, 48, 51, 109, 135(2) & 144.]
FEES
$
1. Annual banking licence fee for bank, other than an unincorporated
bank (section 19(1))
360,000
2. Registration fee (section 23(1))
50,000
3. Renewal of registration fee (section 23(2))
50,000
4. Deposit-taking licence fee (section 26(1))
170,000
5. Renewal of deposit-taking licence fee (section 26(2))
170,000
6. Inspection fee (section 27(3))
10
1.
In this Schedule
THIRD SCHEDULE
Capital ADEQUACY RATIO
[ss. 98 & 135(3).]
"book value" in relation to any thing referred to in this Schedule means its current book value, after deducting any provision made in the books against a reduction in its value;
"debt securities" means any securities other than shares or stocks; "eligible bank" means—
(a) any authorized institution which is a bank or licensed deposit-taking
company; and
(b) any bank incorporated outside Hong Kong which is not licensed under this Ordinance, except a bank which is, in the opinion of the Commissioner, not adequately supervised by an appropriate, recognized banking supervisory authority of the place in which it is incorporated;