Production at bank's books, atc.
Licensed bonk under control of Commis- sioner to ca- operate with Commis
signer.
Disqualifica- tion of directors and employees of banks.
20
(b) not later than twenty-one days after the last day of each quarter ending on the 31st day of March, the 30th day of June, the 30th day of September and the 31st day of December respectively, or upon any other day which may be approved by the Commissioner, a statement in the prescribed form giving an analysis of loans and advances made by its offices and branches in the Colony as at the close of business on the last business day of the preceding quarter:
Provided that the Financial Secretary may by permission in writing allow the statements referred to in paragraphs (a) and (b) to be sub- mitted at less frequent intervals.
(2) The Financial Secretary may require a bank to submit such further information as he may consider necessary for the proper under- standing of the financial position of the bank and such information shall be submitted within such period and in such manner as the Financial Secretary may require.
(3) Notwithstanding anything in sections 53 and 60, the Financial Secretary may prepare and publish consolidated statements aggregating the figures in the statements furnished under subsection (1),
39. For the purpose of an investigation under section 15, a bank shall afford the person carrying our the investigation access to its books, accounts and documents and such information and facilities as may be required to conduct the investigation and shall produce to the person carrying out the investigation such books, accounts, documents or other information as he may require:
Provided that, so far as is consistent with the conduct of the in- vestigation, such books, accounts and documents shall not be required to be produced at such times and such places as shall interfere with the proper conduct of the normal daily business of the bank.
40. Where the Commissioner or some other person has assumed control of a bank by virtue of the provisions of paragraph (iii) of sub- section (1) of section 13, the bank shall submit its business to the con- trol of the Commissioner or such other person and shall provide him with the services of such members of its staff and such other facilities as he may consider necessary for carrying on the business of the bank and in connexion therewith the directors and managers shall comply with and carry out any directions which the Commissioner or such other person may give to them.
41. Notwithstanding the provisions of any other enactment, no person-
(a) who is or who becomes bankrupt, suspends payment or com-
pounds with his creditors; or
21
(6) who is or who has been convicted of an offence in any country involving dishonesty or fraud and has not received a full pardon for the offence of which he was convicted; or
(c) who has been a director of, or directly concerned in the man- agement of, a bank licensed under this Ordinance or which was licensed under the Banking Ordinance repealed by this (Cap. 155). Ordinance, which has at any time been wound up by a Count or the licence of which has at any time been revoked. shall, without the consent in writing of the Financial Secretary act, or continue to act as a director, manager, secretary or other employee of any bank.
PART VI.
UNINCORPORATED BANKS.
unincor-
42. (1) Notwithstanding the provisions of section 5, the Financial Grant of Secretary may issue a licence to carry on banking business in the Colony licences to to any unincorporated person or body of persons who or which, at the posted cornmencement of this Ordinance, held a valid licence issued under the Banking Ordinance repealed by this Ordinance.
(2) A licence may be granted under subsection (1), notwithstand- ing that the unincorporated person or body of persons does not comply and does not propose to comply with the provision of section 8. 18, 19 or 20.
banks.
(Cap. 155).
43. (1) An application for a licence under section 42 shall be Application made to the Financial Secretary, through the Commissioner.
for licence
(2) An application for a licence under section 42 shall be accom- panied by such documents and information as the Financial Secretary may require.
under sec- tion 42.
44. (1) An unincorporated bank shall pay an annual licence fee Licence fes of five thousand dollars or such other sum as may be specified by the for unincor
porated Governor in Council and notified in the Gazette.
(2) The fees payable under this section shall be paid upon the grant of a licence and thereafter upon the anniversary of the date of the grant of such licence.
(3) The Financial Secretary shall cause to be published in the Gazette each year in the month of April the name of every unincor- porated bank which has within the preceding financial year paid the fees payable under this section.
bank.