96
CAP. 155]
Winding-up of authorized institutions. (Cap. 32.)
(Cap. 32.)
Banking
[1987 Ed.
(2) Subject to subsection (3) and notwithstanding section 120, the Commissioner may, if he considers that it is in the interests of customers of the representative office, provide to the appropriate recognized banking supervisory authority of a place outside Hong Kong which is, in his opinion, subject to adequate secrecy provisions in that place information on matters relating to the affairs of a local representative office which is maintained by a bank incorporated in that place.
(3) Under no circumstances shall the Commissioner provide any information under this section relating to the affairs of any individual customer of an authorized institution or local representative office.
122. (1) The provisions of the Companies Ordinance with regard to a creditors' voluntary winding-up shall not apply to authorized institutions.
(2) On a petition by the Financial Secretary, acting in accordance with a direction of the Governor in Council under section 53(1)(iii), the High Court may-
(a) on any ground specified in section 177 of the Companies Ordinance; or
(b) if it is satisfied that it is in the public interest that the authorized institution or former authorized institution should be wound up,
order the winding-up of an authorized institution or former authorized institution in accordance with the provisions of the Companies Ordinance relating to the winding-up of companies.
(3) Where before the presentation of a petition for the winding-up of an authorized institution by the court, whether or not the petition is presented by the Financial Secretary, the Commissioner has assumed control of the business of the institution under section 52(1)(C) or pursuant to an order of the Governor in Council under section 53(1)(ii) or some other person has assumed control of the business of the institution pursuant to a direction of the Commissioner under section 52(1)(C) or an order of the Governor in Council under section 53(1)(ii) and such control has continued at all times until the presentation of the petition, and a winding-up order is made thereon, then, notwithstanding the provisions of section 184(2) of the Companies Ordinance, the winding-up of the institution by the court shall, for the purposes of sections 170, 179, 182, 183, 266, 267, 269 and 274, and paragraphs (d), (e), (h), (i), (j), (k), (l), (m), (n) and (o) of section 271(1), of the Companies Ordinance, be deemed to have commenced at the time the Commissioner or such other person assumed control of the business of the institution.
(4) Where the Commissioner has assumed control of the business of an authorized institution under section 52(1)(C) or pursuant to an order of the Governor in Council under section 53(1)(ii) or some other person has assumed control of the business of