9
application be granted, the banking licence fee which is now payable by Deutsche Bank
Bank (Asia) AG will be payable by Deutsche Bank AG. The annual registration fee for a representative office ($18,360 with effect from 1 April 1988), which is payable by Deutsche Bank AG, will not be received, as this bank will be paying the banking licence fee. There are no staffing implications.
Public Reaction
10
It is unlikely that the general public will have interest in the transfer of licence.
Publicity
11
If the application is approved, a press release will be issued in addition the usual gazette notice to explain that the transfer of licence is necessitated by the vesting in Deutsche Bank AG of the undertaking of Deutsche Bank (Asia) AG.
(The Commissioner of
Banking, Mr C.W. LAU, and the Deputy Secretary for Monetary Affairs, Mr S.S.K. IP, will attend for this item.)
17 March 1988
(B 1/1 C (MA B))
COUNCIL CHAMBER
CONFIDENTIAL