C202
BANKING BILL
BANKING BILL
(f) securities issued or guaranteed by the Government or any other government approved by the Commissioner for the purposes of this Schedule; and
(g) performing loans, instalments of loans, including interest on such loans, which will be paid in cash within one month, but excluding overdrafts and other loans repayable at short notice.
4.
For the purposes of paragraphs 2(a) and 3(a), the expression "interbank" means between the authorized institution concerned and
(a) any other authorized institution; and
(b) any bank incorporated outside Hong Kong.
Enactments
(Cap. 1, sub. leg.) Specification of Public Offices
(Cap. 8.)
Evidence Ordinance
(Cap. 29.)
Trustee Ordinance
(Cap. 32.)
Companies Ordinance
(Cap. 32. sub. leg.)
Companies (Exemption from Statement of Turnover) Order
FIFTH SCHEDULE
CONSEQUENTIAL AMENDMENTS
Amendments
Enactments
Insurance Companies Ordinance
Exchange Fund Ordinance
[s. 141.]
Estate Duty Ordinance
In the item relating to Commissioner of Banking, delete "Banking Ordinance (Chapter 155), section 12A(1) and section 67(1)." and substitute the following-
"Banking Ordinance 1986, sections 44(1) and 101.". Delete from section 20(5) "Deposit-taking Companies Ordinance to be registered or licensed thereunder" and substitute the following-
"Banking Ordinance 1986 to be registered or licensed thereunder as a deposit-taking company”. (a) Delete from sections 77(2)(e)(ii) and (3)(b) and 100(2) and (3) "section 7 of the Banking Ordinance” and substitute the following-
"section 16 of the Banking Ordinance 1986". (b) Delete from paragraphs 22(2) and 23(2) of Part II of the Second Schedule "Deposit-taking Companies Ordinance" and substitute the following-
"Banking Ordinance 1986".
(a) Insert in section 141D(3)(b) after “valid” the
following-
"banking".
(b) Delete from the definition of "company" in sec- tion 157H(1) "a bank licensed under the Banking Ordinance or a deposit-taking company licensed or registered under the Deposit-taking Companies Ordinance" and substitute the following-
"an authorized institution licensed or registered under the Banking Ordinance 1986".
(c) Insert in paragraph 26(3) of Part III of the Tenth
Schedule after "valid" the following-
"banking".
Delete from paragraph 2 "Deposit-taking Companies Ordinance" and substitute the following—
"Banking Ordinance 1986 as a deposit-taking com- pany".
Amendments
Delete from section 51(f) "bank licensed under the (Cap. 41.) Banking Ordinance or a deposit-taking company regis- tered or licensed under the Deposit-taking Companies Ordinance to the extent only that such bank or com- pany" and substitute the following-
"authorized institution licensed or registered under the Banking Ordinance 1986 to the extent only that such institution".
Insert after section 4A(3) the following-
"(4) In this section, "Banking Ordinance" / shall mean the Banking Ordinance, 1964 as in force immediately before its repeal by the Banking Ordinance 1986.".
(Cap. 66.)
Delete from the proviso to section 34(7) "section 7 of the (Cap. 111.) Banking Ordinance" and substitute the following—
"section 16 of the Banking Ordinance 1986”.
Inland Revenue Ordinance
In section 2(1)—
Money Lenders Ordinance
Conveyancing and Property Ordinance
Commodities Trading Ordinance
(a) delete from the definition of "deposit" the words "Deposit-taking Companies Ordinance" and sub- stitute the following--
"Banking Ordinance 1986"; and
(b) delete the definition of "financial institution" and
substitute the following-
"financial institution", means-
(a) an authorized institution licensed or registered under the Banking Ordin- ance 1986;
(Cap. 112.)
(b) any associated corporation of such an authorized institution which, being exempt by virtue of section 3(2)(a) or (b) or (c) of the Banking Ordinance 1986, would have been liable to be licensed or registered as a deposit- taking company under that Ordin- ance had it not been so exempt;".
Delete items 1 and 2 of the First Schedule and substitute (Cap. 163.) the following
"1.
Any authorized institution licensed or registered under the Banking Ordinance 1986 and any subsidiary thereof.".
Delete from section 45(1)(c) "a bank (as defined in the (Cap. 219.) Banking Ordinance) or a deposit-taking company (as defined in the Deposit-taking Companies Ordinance)" and substitute the following-
"an authorized institution (as defined in the Bank- ing Ordinance 1986)".
Delete from section 2(1) in the definition of "licensed (Cap. 250.) deposit-taking company" the words "Deposit-taking Companies Ordinance" and substitute the following-
"Banking Ordinance 1986".
C203