CONFIDENTIAL
87)10
110
for Securities & Commodities
(The Secretary for Monetary Affairs, Mr D.A.C.
NENDICK, and the Commissioner for
Trading, Mr D.J.M. MURPHY, attended before the Council for
discussion of this item.)
A102
LICENSING POLICY ON BANKS INCORPORATED
OUTSIDE HONG KONG
(B 1/1C VII)
The Council considered memorandum XCC(87)38.
The Council ADVISED and the Acting Governor ORDERED :
(a) that the proposed revisions
of
banks
licensing policy for
incorporated outside
Hong
Kong, set
out in
paragraph
9
of
the
memorandum,
should
in
principle be adopted;
(b) that the revised policy
statement at Annex II to the
memorandum
amended
-
should
CONFIDENTIAL
be