C498
Amendment of section 84.
Amendment of section 87.
22.
BANKING (AMENDMENT) BILL 1987
to attach thereto in any particular case, permit the bank to grant, without complying with subsection (1), any facilit specified in subsection (3) (or such of those facilities as he specifies in the notice) to or on behalf of any person or body specified in subsection (4)(g) (or such of those persons or bodies as he specifies in the notice); and where the bank, in pursuance of such notice and in accordance with such condi- tions, grants any such facility to or on behalf of any such person or body it shall not thereby contravene subsec- tion (I).".
Section 84 of the principal Ordinance is amended-
(a) in subsection (1), by deleting "A" and substituting the following-
"Subject to subsection (6A), a";
(b) in subsection (4), by deleting "A" and substituting the following—
"Subject to subsection (6B), a";
(c) in subsection (6), by deleting paragraph (e) and substituting the
following-
"(e) any controller (other than an authorized institution, or a bank incorporated outside Hong Kong which is not licensed under this Ordinance but is approved by the Commissioner for the purposes of this paragraph) of the deposit-taking company;"; and
(d) by inserting after subsection (6) the following-
"(6A) The Commissioner may, by notice in writing to a licensed deposit-taking company, and subject to such condi- tions as he may think proper to attach thereto in any particular case, permit the company to grant, without comply- ing with subsection (1), any facility specified in subsection (3) (or such of those facilities as he specifies in the notice) to or on behalf of any person or body specified in subsection (6)(g) (or such of those persons or bodies as he specifies in the notice); and where the company, in pursuance of such notice and in accordance with such conditions, grants any such facility to or on behalf of any such person or body it shall not thereby contravene subsection (1).
(6B) The Commissioner may, by notice in writing to a registered deposit-taking company, and subject to such condi- tions as he may think proper to attach thereto in any particular case, permit the company to grant any of the facilities specified in subsection (4)(a), (b) or (c) (or such of those facilities as he specifies in the notice) to or on behalf of any person or body specified in subsection (6)(g) (or such of those persons or bodies as he specifies in the notice); and where the company, in pursuance of such notice and in accordance with such conditions, grants any such facility to or on behalf of any such person or body it shall not thereby contravene subsection (4).".
23. Section 87(1) of the principal Ordinance is amended by deleting "subsections (2) and (3)" and substituting the following-
"subsection (2)".