1987 Ed.]
Banking
[CAP. 155
97
an authorized 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), nothing in section 182 of the Companies Ordinance shall invalidate any disposition of the property of the institution made by it under the direction of the Commissioner or such person acting bona fide in the course of the carrying on of the business of the institution.
(5) Where the Financial Secretary is entitled to petition the High Court by virtue of section 117(5)(f), the High Court may wind up a deposit-taking company or former deposit-taking company in accordance with the provisions of the Companies Ordinance relating to the winding-up of companies if
(a) the company is unable to pay sums due and payable to its depositors or is able to pay such sums only by defaulting on its obligations; or
(b) the value of the company's assets is less than the amount of its liabilities.
(6) Nothing in this section shall authorize the winding-up of a former deposit-taking company which does not continue to have the liability in respect of any deposit for which it had a liability at the time when it was registered or licensed.
123. Any director, manager, trustee, employee or agent of any authorized institution who, with intent to deceive--
(a) wilfully makes, or causes to be made, a false entry in any book of record or in any report, slip, document or statement of the business, affairs, transactions, condition, assets or accounts of the institution;
(b) wilfully omits to make an entry in any book of record or in any report, slip, document or statement of the business, affairs, transactions, condition, assets or accounts of the institution, or wilfully causes any such entry to be omitted;
or
(c) wilfully alters, abstracts, conceals or destroys an entry in any book of record, or in any report, slip, document or statement of the business, affairs, transactions, condition, assets or accounts of the institution, or wilfully causes any such entry to be altered, abstracted, concealed or destroyed,
commits an offence and is liable-
(i) on conviction upon indictment to a fine of $500,000 and to imprisonment for 5 years; or
(ii) on summary conviction to a fine of $50,000 and to imprisonment for 2 years.
124. Any director or employee of an authorized institution, who asks for or receives, consents or agrees to receive any gift, commission, emolument, service, gratuity, money, property or thing
3/90547
Offences by directors, managers, trustees, employees and agents.
Prohibition on receipt of commission by staff.