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(2) The copies of such documents shall be exhibited in a place in which they may be easily inspected by members of the public and shall remain so exhibited-
(a) in the case of documents lodged under section 9, from the date on which the company receives a notification of registration under section 10(6) until the date on which documents are lodged under section 17 with the Commissioner for the first time; and
(b) in the case of documents lodged under section 17, from the date on which they are lodged with the Commissioner under that section until such documents for the next Following financial year are lodged with the Commissioner under that section.
(3) 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 $200 for each day during which the offence continues.
19. (1) Where any change occurs in any of the particulars of a rog- istered deposit-taking company which are specified by the Commissioner under section 36(2), the company shall forthwith notify the Commissioner in writing of such change,
(2) A registered deposit-taking company which ceases to carry on a business of taking deposits shall forthwith notify the Commissioner in writing of auch cessation.
(3) Any registered deposit-taking company that fails without reasonable excuse to comply with this section shall be guilty of an offence and shall be liable on conviction to 'a fine of $2,000.
20. (1) Without prejudice to sections 17 and 19, the Commissioner may, by notice in writing sent or delivered to a registered deposit-taking company, require the company to provide him with such information relating to the affairs of the company as is required by the notice, and the company shall comply with the notion within such period as is specified in the notice.
(2) If the Commissioner is not satisfied that any information provided by a registered deposit-taking company is sufficiently adequate or accurate, he may send or deliver to the company a further notice requiring it to pro- vide him with such explanation relating to that information or such further information as may be required by the notice; and the company shall comply with the notice within such period as is specified in the notice.
(3) The Commissioner may, in a notice sent or delivered under sub- section (1) or (2), specify that any information required to be provided by a registered deposit-taking company shall be certified as correct by the auditors of the company.
(4) Any registered deposit-taking company that-
() fails without reasonable excuse to comply with a notice seat or
delivered under subsection (1) or (2); or
(5) pursuant to a notice seat or delivered under subsection (1) or (2), provides the Commissioner with information which the company knows or reasonably ought to know to be false or misleading in a material particular,
shall be guilty of an offence and shall be liable on conviction upon indict- ment to a fine of $20,000.
21. (1) A registered deposit-taking company shall not in any com- munication, whether written or oral, represent or imply, or permit to be represented or implied, in any manner to any person that the company bas in any respect been approved by the Government or the Commissioner.
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(2) Subsection (1) is not contravened by reason only that a statement is mude to the effect that a company is registered under this Ordinance.
(3) Any registered deposit-taking company that contravenes subsection (1) without reasonable cxcuse shall be guilty of an offence and shall be lisible on conviction upon indictment to a fine of $50,000.
advorced by
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12 (1) A registered deposit-taking company shall not grant or permit Liuio on to be outstanding to any one person, firm, corporation or company, or to any group of companies or persons which such person, firm, corporation or depoel-Lakela company is able to control or influence, any advancea, loans or credit compani facilities, including irrevocable documentary letters of credit to the extent to which they are not covered by marginal cash deposits, or give any financial guarantees or incur any other liabilities on their behalf to an aggrepik amount of such advances, loans, facilities, guarantees or liabilities in excess of 25 per cent of the paid-up capital and reserves of the registered deposit-taking company:
Provided that this subsection shall not apply to-
(a) transactions with a bank or another registered deposi-taking
company,
(5) transactions la the extent to which they are covered by a form of
guarantee acceptable to the Commissioner;
(c) the purchase of telegraphic transfers;
(d) the purchase of bills of exchange or documents of title to goods where the holder of such bills or documents is entitled to payment outside Hong Kong for goods exported from Hong Kong:
(e) any advances or loans mado against telegraphic transfers or against
any bills or documents referred to in paragraph (d); or
(f) transactions entered into before the commencement of this Ordin -
ance
(2) For the purposes of subsection ())-
(a) any advances, loans or credit facilities granted or permitted to be outstanding to, and any financial guarantees given and any other liabilities incurred on behalf of, a business or undertaking of which any one person is the sole proprietor shall be deemed to be granted or permilled to be outstanding to or given or incurred on behalf of, as the caso may be, that one person,
(6) a person shall not be deemed to be able to control or influence a group of companies by reason only that he is a director of any other company in the group.
(3) Any registered deposit-taking company that contravenes subsection (1) shall be guilty of an offence and shall
(a) in the cake of a continuing offence, be liable on convjelion upon indictment to a fine of $2,000 for every day during which the offence continues; and
(b) in the case of an offence which is not a continuing offence, be
Table on conviction upon indictment to a fine of $50,000.
23. (1) A registered deposit-taking company shall not grant any facility specified in subsection (3) to or on behalf of any person or body specified in subsection (4) if the aggregate amount of such facilities for the time being granted by the registered deposit-taking company to or on behalf of any one or more such persons or bodies would thereby exceed 25 per cent of the paid-up capital and reserves of the registered deposit-taking company,
Limitadoo on advances to
directa. c.