COMPANIES (AMENDMENT) BILL 1988
COMMITTEE STAGE
Amendments to be moved by the Financial Secretary
Proposed amendment Clause 3
That clause 3 be amended.
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Amendment Proposed
(a) By deleting "by inserting, after subsection (4), the
following" and substituting the following -
(b)
"(a) by inserting, after subsection (4), the
following -";
in the proposed subsection (4A), by inserting after
"authorized" in the second place where it occurs the
following
"financial";
(c) in the proposed subsection (4A) (b), by inserting after
"$10,000,000" the following ·
"or an amount equivalent to 10 per cent of the
paid up capital and reserves of the authorized
financial institution, whichever is the lower";
(d)
in the proposed subsection (4B)(b), by inserting after
"obtained" the following