72
73
Power to specify forms.
Service of documents. (Cap. 32.)
Power to amend Schedules.
First Schedule.
Second Schedule.
Third Schedule.
(3) Every director and every manager of a bank which contravenes sub- section (1) or (2) commits an offence and is liable on conviction upon indictment or on summary conviction to a fine of $50,000 and, in the case of a continuing offence, to a further fine of $5,000 for every day during which the offence continues.
137. The Commissioner may specify the form of application for licensing or registration and of any notice, certificate or other document required for the purposes of this Ordinance.
138. Without limiting the generality of section 356 of the Companies Ordinance, a document may be served on an authorized institution by leaving it at or sending it by post to its principal place of business in Hong Kong.
139. (1) The Governor in Council may, by notice in the Gazette, amend the First Schedule.
(2) The Legislative Council may, by resolution, amend the Second Schedule. (3) The Financial Secretary may, by notice in the Gazette, amend the Third and Fourth Schedule. Fourth Schedules.
Consent of
140. No prosecution in respect of any offence under this Ordinance shall be Attorney General. instituted without the consent in writing of the Attorney General.
Consequential amendments. Fifth Schedule.
Interpretation.
(Cap. 155.)
(Cap. 328.)
141. The enactments specified in the first column of the Fifth Schedule are amended to the extent and in the manner specified in the second column thereof.
PART XXII
TRANSITIONAL, SAVINGS AND REPEAL
142. In this Part, unless the context otherwise requires-
"former bank" means a bank which, immediately before the commencement of this
Ordinance, held a former banking licence;
"former Banking Advisory Committee" means the Banking Advisory Committee established by section 3 of the former Banking Ordinance and as constituted immediately before the commencement of this Ordinance;
"former banking licence" means a licence granted under section 7 or 42 of the former Banking Ordinance and in force immediately before the commencement of this Ordinance;
"former Banking Ordinance" means the Banking Ordinance repealed by this
Ordinance;
"former Commissioner" means the person who was, immediately before the commencement of this Ordinance, the Commissioner of Banking under section 4 of the former Banking Ordinance and, for the purposes of this Part, any reference in the former Deposit-taking Companies Ordinance to the Commis- sioner of Deposit-taking Companies shall be deemed to be a reference to such Commissioner of Banking;
"former Deposit-taking Companies Advisory Committee" means the Deposit-taking Companies Advisory Committee established by section 4 of the former Deposit- taking Companies Ordinance and as constituted immediately before the commencement of this Ordinance;
"former deposit-taking licence" means a licence granted under section 16B of the former Deposit-taking Companies Ordinance and in force immediately before the commencement of this Ordinance;
"former Deposit-taking Companies Ordinance" means the Deposit-taking Companies
Ordinance repealed by this Ordinance;
:
F
"former registration" means registration under section 10 of the former Deposit- taking Companies Ordinance which was in force immediately before the commencement of this Ordinance.
former
143. (1) Any member of the former Banking Advisory Committee who was such Appointed a member by virtue of an appointment under section 3(2) of the former Banking members of Ordinance shall, on and from the commencement of this Ordinance, be deemed to be committees to a member of the Banking Advisory Committee as if, on that commencement, he had continue in office. been appointed under section 4(2) to be a member of the Banking Advisory Committee for the period he had left to serve, immediately before that commence- ment, as a member of the former Banking Advisory Committee and, for that purpose and for that period, the terms on which he was so appointed as a member of the former Banking Advisory Committee shall be the terms on which he shall be a member of the Banking Advisory Committee.
(2) Any member of the former Deposit-taking Companies Advisory Committee who was such a member by virtue of an appointment under section 5(1)(c) of the former Deposit-taking Companies Ordinance shall, on and from the commencement of this Ordinance, be deemed to be a member of the Deposit-taking Companies Advisory Committee as if, on that commencement, he had been appointed under section 5(2) to be a member of the Deposit-taking Companies Advisory Committee for the period he had left to serve, immediately before that commencement, as a member of the former Deposit-taking Companies Advisory Committee and, for that purpose and for that period, the terms on which he was so appointed as a member of the former Deposit-taking Companies Advisory Committee shall be the terms on which he shall be a member of the Deposit-taking Companies Advisory Committee.
continue in office.
144. The former Commissioner shall, on and from the commencement of this Former Ordinance, be deemed to be the Commissioner as if, on that commencement, he had Commissioner to been appointed under section 6 to be the Commissioner of Banking, and the provisions of this Ordinance shall apply accordingly.
authorized and
145. Any person who was, immediately before the commencement of this Authorized and Ordinance, authorized or employed under section 4A of the former Banking employed persons Ordinance to assist the former Commissioner in the exercise of his functions and to continue to be duties under the former Banking Ordinance, either generally or in any particular case, employed. shall, on and from the commencement of this Ordinance, be deemed, in the like capacity, to be authorized or employed to assist the Commissioner in the exercise of his functions under this Ordinance as if, on that commencement, he had been, in the like capacity, authorized or employed under section 8 to assist the Commissioner in the exercise of his functions under this Ordinance for the period he had left, immediately before that commencement, to be so authorized or employed under the former Banking Ordinance.
146. Where, immediately before the commencement of this Ordinance, there was Former in existence-
(a) an application for a former banking licence under section 6 of the former Banking Ordinance in relation to which the Governor in Council had not granted or refused a former banking licence under section 7 of the former Banking Ordinance;
(b) an application for former registration under section 9 of the former Deposit-taking Companies Ordinance in relation to which there has not been any registration or refusal of registration by the Commissioner under section 10 of the former Deposit-taking Companies Ordinance; or
(c) an application for a former deposit-taking licence under section 16A of the former Deposit-taking Companies Ordinance in relation to which the Financial Secretary had not granted or refused a former deposit-taking licence under section 16B of the former Deposit-taking Companies Ordinance,
applications for licences, etc. deemed to be applications under this Ordinance.