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BANKING BILL
BANKING BILL
A BILL
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Clause
Page
128.
Prohibition on receipt of commission by staff
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129.
Search warrants and seizures
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130.
Defence where director or manager, etc. prosecuted
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131.
Indemnity
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132.
Execution of instruments under seal
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133.
Validity of contract in contravention of this Ordinance
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134.
Action for recovery of deposits, etc.
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135.
Recovery of fees, expenses, etc.
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136.
Use of English language
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137.
Power to specify forms
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138.
Service of documents
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139.
Power to amend Schedules ...
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140.
Consent of Attorney General
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141.
Consequential amendments
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To
Regulate banking business and the business of taking deposits and to make provision for the supervision of authorized institutions so as to provide a measure of protection to depositors and to promote the general stability and effective working of the banking system, and to provide for matters incidental thereto or connected therewith.
Enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof.
PART XXII
TRANSITIONAL, SAVINGS AND REPEAL
142.
Interpretation
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143.
Appointed members of former committees to continue in office
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144.
Former Commissioner to continue in office
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145.
Authorized and employed persons to continue to be authorized and
employed
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146.
4
Former applications for licences, etc. deemed to be applications under this
Ordinance ...
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147.
148.
Former licences, etc. deemed to be licences, etc. under this Ordinance ...
Date of payment of certain fees
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149.
Conditions attached to former licences, etc. deemed to be conditions under
this Ordinance
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150.
Suspension of former registration, etc. deemed to be suspension under this
Ordinance
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PART I
PRELIMINARY
1. (1) This Ordinance may be cited as the Banking Ordinance 1986. (2) This Ordinance shall come into operation on a day to be appointed by the Governor by notice in the Gazette and the Governor may appoint different days for different provisions.
2. (1) In this Ordinance, unless the context otherwise requires- "accounts" means any accounts, whether kept in writing or print or by any machine
or device;
"advertisement" means any form of advertising, whether notified or published- (a) in a newspaper, magazine, journal or other periodical publication; (b) by the display of posters or notices;
(c) by means of circulars, brochures, pamphlets or handbills;
(d) by an exhibition of photographs or cinematograph films; or
(e) by way of sound broadcasting or television,
and references to the issue of an advertisement shall be construed accordingly; "auditor" means a professional accountant holding a practising certificate under the
Professional Accountants Ordinance;
Short title and commencement.
Interpretation.
(Cap. 50.)
151.
Actions, etc. under Part IV of former Banking Ordinance deemed to be
actions under Part X of this Ordinance...
"authorized institution" means-
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(a) a bank; or
152.
Saving of certain letters of comfort
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153.
Repeal ...
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(b) a deposit-taking company;
First Schedule.
Second Schedule.
Fees
Third Schedule.
Specified Sum
Capital to Risk Assets Ratio
Fourth Schedule. Liquidity Ratio
Fifth Schedule.
Consequential Amendments
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“authorized institution incorporated in Hong Kong" means an authorized institution
incorporated in Hong Kong by or under the Companies Ordinance or any (Cap. 32.) other Ordinance and any reference to a bank incorporated in Hong Kong or a deposit-taking company incorporated in Hong Kong shall be construed accordingly;
"authorized institution incorporated outside Hong Kong" means an authorized institution incorporated by or under the law or other authority in any place outside Hong Kong, and in this respect "incorporated" includes established and any reference to a bank incorporated outside Hong Kong or a deposit-taking company incorporated outside Hong Kong shall be construed accordingly;