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THE HONGKONG GOVERNMENT GAZETTE, MARCH 7, 1919.
(2.) It shall be lawful for the Governor in Council to make regulations defining what business is to be deemed banking business for the purposes of this Ordinance.
5. If any person is concerned in carrying on any Penalty. such business in contravention of this Ordinance he 8 & 9 Geo. 5, shall be guilty of a misdemeanour and shall be liable c. 31, s. 2(1). upon summary conviction to imprisonment for any term not exceeding twelve months and to a fine not exceeding five thousand dollars, or upon conviction on indictment to imprisonment for any term not exceeding seven years and to a fine not exceeding five thousand dollars.
6.-(1.) Where it appears to the Governor in Council Winding up. that any banking business is carried on in contravention 8 & 9 Geo. 5, of this Ordinance he shall order the business to be c. 31, s. 2 (2). wound up and such business shall forthwith be wound up accordingly. -
(2.) It shall be lawful for the Governor in Council to make regulations prescribing :-
(a) The manner in which such winding up is to
be carried out;
(b) The persons by or under whom the winding up is to be carried out, and the powers, rights and duties to be assigned to such persons;
(e) The manner and order in which the proceeds of such winding up are to be distributed and applied;
(d) The powers to be conferred on the Supreme
Court in relation to such winding up; (e) The powers to be conferred upon any other
authority in relation to such winding up; (f) The penalties to be imposed upon persons who fail to discharge the obligations imposed on them by such regulations; and
(g) Generally, the manner in which any ques- tions arising in such winding up are to be dealt with.
Any such regulations may confer a discretion on the person, Court, or authority or whom any power, right or duty is conferred, but otherwise such regulations shall be general and shall apply to all cases in which any winding up order is made under this section.
7.-(1.) Where it appears to the Colonial Secretary Inspection. that there is reasonable ground for suspecting that any 8 & 9 Geo. 5, banking business has been or is being carried on by c. 31, s. 2 (3). any person, firm or corporation in contravention of the Ordinance, he may issue an order in writing authorising any person named in the order:
(a) To inspect all books and documents belong- ing to or under the control of such person, firm or corporation;
(b) To require any person whom he may con- sider able to give any information respect- ing the business or trade of such person, firm or corporation to give such information; (c) If accompanied by a police officer, or if himself a police officer, to search any pre- mises specified in the said information as having been or being used in connection with such business or trade;
(d) To seize and take possession of all books documents and things discovered in the course of any such inspection or search which may appear to furnish any evidence that any offence under this Ordinance has been committed;
To do all such acts and things as may be reasonably necessary for the purpose of effecting such search.
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