Suspension of
Egisla
Effeur of
kompension at redsuration.
Accounts, ck,
to be lodged
with the
CommidonT
(Cap. 32)
*
(c) the objects of the company as stated in its memorandum of associa
tion or constitution no longer include the carrying on of a business of taking deposits;
( it appears to him that-
or
(0) the company is not a fit and proper body to remain registered;
(i) the company has not provided him, whether before or after being registered, with such information relating to it, and to any circumstances likely to affect its method of business, as is required by or under this Ordinance;
(e) the company has been convicted of an offence under section 8(4); (f) the company has failed to pay the registration fee or renewal of
registration fee in accordance with section 11:
(g) the company has failed to comply with section 17.
(2) Without prejudice to subsection (1), the Commissioner may revoke the registration of a deposit-taking company on being requested in writing by the company to do so.
(3) The Commissioner shall not revoke the registration of a deposit- taking company for any reason specified in subsection (1) without giving it an opportunity of being heard within such time limit as the Commissioner may specify in writing."
(4) Where the registration of a deposit-taking company is revoked under subsection (1) or (2), the Commissioner shall-
(a) notify the company in writing of such revocation:
(8) publish in the Gazerte notice of such revocation; and
(e) remove from the register the name of the company.
15. (1) Without prejudice to subsection (1) of section 14, where paragraph (b), (de), 00 or (g) of that subsection applies, the Commis- sioner may by notice in writing served on the registered deposit-taking company suspend the registration of the deposit-taking company for à period not exceeding & months.
(2) Where the registration of a deposit-taking company is suspended undor subsection (1) section 11 and Part V shall apply to the deposit- taking company during the period of the suspension.
16. [1] Without prejudice to any other provision of this Ordinance, where the registration of a deposit-taking company is revoked under section 14 or suspended under section 15, the company shall cease to take deposits with effect from the date of receipt of the notice under section 14(4)e) or 15, as the case may be.
(2) Without prejudice to any other provision of this Ordinance, ✪ deposit-taking company whose registration is revoked or suspended may continue to hold any deposit taken prior to the date referred to in sub- section (1)
PART V
OBLIGATIONS OF REGISTERED DEPOSIT-taking COMPANIES
17. (1) Without prejudice to the provisions of Parts IV, IX and XI of the Companies Ordinance relating to company accounts, every registered deposit-taking company shall, in accordance with this section, in each year lodge with the Commissioner duly signed copies of-
(a) in the case of a company (other than a private company) registered
under Part I of the Companies Ordinance—
(i) the profit and loss account of the company:
(i) the balance sheet as at the date to which such profit and loss account is made up:
(1) the auditor's report attached to such profit and loss account and balance sheel; and
(iv) the report by the directors (with respect to the state of the company's affairs) attached to such balance sheet,
which are required to be laid before the company in general moet- ing in accordance with the Companies Ordinance;
(b) in the case of a private company registered under Part I of the Companies Ordinance, or a company registered under Part IX of the Companies Ordinance, the doctiments specified in paragraph (a) as if the company wers a company to which paragraph (4) applies; and
(c) in the case of a compeny incorporated outside Hong Kong and which has complied with Part XI of the Companies Ordinance, the documents specified in paragraph_(a) which are required to be delivered to the Registrar of Companies in accordance with section 335 of the Companies Ordinance.
(2) The documents specified in subsection (1)(G) salt
(a) on the first occasion, be the documents in respect of the first financial year which ends on a date not earlier than six months immediately preceding the date of application for registration; and (b) on subsequent occasions, be the documents in respect of each sub-
sequent financial year of the company,
(3) The documents specified in subsection (1) shall be Todged within mooths after the end of the financial year to which such documents relate.
(4) For the purposes of paragraph (c) of subsection (1), a company to which that paragraph applies shall be treated as if it were required to comply with section 336 of the Companies Ordinance notwithstanding that that section would not, by virtue of subsection (6) of that section, otherVĪK apply to it.
(9) If any document referred to in subsection (1) is not written in the English language, there shall be annexed to the document a translation of it in English, certified by a director or the secretary of the company as A true and correct translation of that document
(5) Any registered deposit-taking company that fails to comply with this section shall be guilty of an offence and shall be liable on conviction to a fine of $300 for each day during which the offence continues.
(7) Any person who signs any document for the purposes of this section which he knows or reasonably ought to know lo be false in a material particular shall be guilty of an offence and shall be liable on coD- viction upon indictment to a fine of $20,000 and to imprisonment for Z Years
companie p
18. (!) Every registered deposit-taking company shall cause to be Reghezed exhibited in accordance with subsection (2) at each place where it carries deporti on a business of taking deposits copies of the documents which it is required chibi to lodge with the Commissioner under section 9 (other than any document acconti ele. or information referred to in paragraph (b) of subsection (2) of that section) place of and section 17.
brubiess.