*Cap. 1$53
Incorporation of Assoclados.
Object of the Association
"Consultative Council" means the Consultative Council established by
section 9;
"continuing members" means the continuing members under section 8(1)«); "deposit" means a loan of money at interest or repayable at a premium or repayable with any consideration in money or money's worth; "Disciplinary Committee" means the Disciplinary Committee appointed
under section 16;
"Exchange Banks Association" means the unincorporated body known as The Exchange Banks' Association, Hong Kong existing immediately before the commencernçut of this Ordinance;
"licensed bank" means a bank licensed under section T or section 42 of the
Banking Ordinance;
"member" means a member of the Association;
"Secretary" means the secretary of the Association appointed pursuant to
section 13.
| PART II
INCORPORATION, OBJECTS AND POWERS
3. (1) There is hereby established a body corporate to be known as The Hong Kong Association of Banks,
(2) The Association shall have perpetual succession and shall be capable of suing and being sued and of doing and suffering all such other Acts or things as bodies corporate may lawfully do and suffer,
(3) The Association shall have a common seal which shall not be affixed except pursuaal to a resolution of the Commillee (or of a sealing subcommittee appointed by the Committee for that purpose) and in the presence of two members of the Committee and of the Secretary, or some other person appointed in his place by the Committee, each of whom shall sign his name,
(4) Any document purporting to be a document duly executed under the seal of the Association authenticated in accordance with subsection (3) sball be received in evidence and shall, until the contrary is proved, be deemed to be a document so executed.
A.
The objects of the Association shall be
(a) to further the interests of licensed Banka:
(b) to make rules from time to time for the conduct of the business
of banking:
(c) to consider, investigate and inquire into all matters and questions
Connected with or "relating to the business of banking;
(d) to promote, consider, support, oppose, make representations as to and generally deal with any law affecting or likely to affect the business of banking:
(e) to collect, circulate and disseminate information relating to the business of banking or otherwise likely to be of interest to members and others;
( to represent its members at and appear before any public body,
committee or inquiry or before any court or tribunal;
(g) to act as an advisory body to its members and to co-operate and maintain relations with other bodies and organizations in all matters touching or concerning the business of banking:
3
(h) to provide a meeting place or places for its members and to adopt such means of publicizing or making known its activities and information and opinions on matters touching or concerning the business of banking as may be thought fit;
(0) to provide or procure, by means of a management agreement or otherwise, facilities for the clearing of cheques and other insicu- mments, and for the processing of banking transactions presented by member;
(i) to establish, qubsidize, support, co-operate with or otherwise assist any person engaged in any artistic, cultural, benevolent, charitable, welfare or similar activity and to contribute money for and to take part in any such activities as the Committee may think fit;
(k) to do or cause to be done all such other acts and things as may conduce to the progress, prosperity and advancement of the general body of members.
The Association shall have power to do all such things as are Powers of the necessary for, or incidental to or conducive to the carrying out of the Arctiulco. objects of the Association and may in particular, but without prejudice
to the generality of the foregoing-
(2) acquire, take on lease, purchase, hold and enjoy any property,
and seil, let or otherwise dispose of the same;
(b) enter into any contract;
(c) invest foods in securities, place funds on deposit and otherwise deal with its funds in such mantler as it may think fit, and realize the same at such times as it may consider necessary;
(4) borrow or otherwise raise money on such security as may be necessary, and for that purpose charge all or any part of the properly of the Association:
(e) act as trustee in relation to pension and retirement schemes for
its employees and funds for scholarships and prizes;
(/) institute, conduct, defend, compound or abandon any legal pro- ceedings by or against it or otherwise concerning its affairs;
(g) refer any claim or demand by or against it to arbitration; () make and give receipts, releases and other discharges for money payable to and for claims and demands of the Association;
(f) publish periodicals, booklets or other written material and produce or sponsor the production of documentary films or audio-visual material, and distribute the same by sale, loan, hire or otherwise, with or without charge, as it shall think fil;
(/) accept gifts, donations or testamentary dispositions upon such
conditions as it shall determine.
6. (1) The Association may, under its common scal, make such By-law by-laws not inconsistent with this Ordinance as are necessary for, or incidental to or conducive to, the carrying out of the objects of the Association and may in particular, but without prejudice to the generality of the foregoing, make by-laws for-
(a) meetings of the Association and the procedure at and the conduct
of such meetings;
(b) meetings of the Committee and its subcommittees and the
procedure at and conduct of such meetings;