CAP. 155]
[s. 8 cont.]
Exhibition
of audited balance sheet by licensed banks.
49 of 1948, s.3.
(Cap. 32.)
Individuals not eligible to take part
in manage- ment of licensed banks.
Issue of bank notes.
24 of 1950, Schedule.
(Cap. 65.)
Banking.
(3) The Financial Secretary shall publish annually in the Gazette the name of every licensed bank which has paid the annual fee prescribed in this section.
9. (1) Every licensed bank shall exhibit throughout the year in a conspicuous position in every office and branch of such bank in the Colony a copy of its last audited balance sheet.
(2) Every licensed bank after preparing a balance sheet shall forthwith send a copy to the Financial Secretary.
(3) Any licensed bank which fails to comply with the requirements of this section shall be liable on conviction to the penalty prescribed by section 14.
(4) The requirements of this section shall be in addition to and not in derogation of the requirements of the Companies Ordinance or of other Ordinance, Act of Parliament of the United Kingdom or letters patent of the United Kingdom.
10. (1) No person-
(a) who has been a director of, or directly or indirectly concerned in the management of, a bank which has been wound up by a court; or
(b) who has been sentenced by a competent court to a term of imprisonment for an offence involving dishonesty and has not received a full pardon for the offence for which he was sentenced,
shall, without the express authorization of the Governor, act or continue to act as a director of, or be directly or indirectly concerned in the management of, any licensed bank.
(2) Any person acting in contravention of subsection (1) shall be liable on conviction to the penalty prescribed by section 14.
11. Nothing in this Ordinance contained shall be taken to authorize the issue in the Colony of any bank notes by a licensed bank other than a note-issuing bank within the
meaning of the Bank Notes Issue Ordinance.
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