IF
Fumption of de Comtroca.
Rules to conduct or bubrieta baking
(2) If the designated representative is for any reason unable to attend any meeting or otherwise act the member may designate in like manner an alternate representative who shall have the powers and functions of the designated representative.
(3) Every designation may be withdrawn and replaced by a new designation in writing at any time.
PART TV
GENERAL
11. (1) The management of the Association shall be vested in the Committee and all the powers of the Association shall be vested in and exercisable by the Committes except so far as this Ordinance or any by-laws made hereunder otherwise authorize.
(2) The Committee may appoint subcommittees for the better dis- charge of its functions under this Ordinance and may delegale to any subcommittee any of its powera and functions:
Provided that the Committee shall not delegate to any subcommittee the power to impose penalties for breach of any rule" made by the Committee pursuant to section 12.
(3) The Committee may in its discretion co-opt any member of the Association to be a member of any subcommittee other than the Dia- ciplinary Committee.
12. (0) The Committee may, after such consultation with the Financial Secoctary as he shall consider appropriate, from time to time make such rules relating to the conduct of the business of banking as do not derogate from any law and may in particular, but without prejudice to the generality of the foregoing, make rule,—
(a) as to the maximum rates of interest, return, discount or other beacfit which may be paid or granted by members, or by any specified category of members, in respect of
() specified Hong Kong dollar deposits of their custome: (ii) specified instruments;
(b) as to the couduct of foreign exchange business and the minimum
commissions and charges to be applied therefor;
(c) as to the conduct of securities and safe custody business and the
minimum commissions and charges to be applied therefor,
(a) as to the minimum charges to be applied by members for the
issuance of guarantees or other documents;
(e) as to any other charges relating to the provision of any banking service, not being charges by way of interest or relum payable on loans or advances granted by members;
() prohibiting members from transacting any specified type of business
or using any particular type of instrument.
(2) Rules made by the Committee pursuant to subsection (1)–
(a) may be amended by the Committee at any time
(b) shall be binding on each member upon being served on the
member as provided in subsection (3)
7
(c) shall not be subsidiary legislation, rules, regulations or by-laws
within the meaning of those words in the Interpretation and top 1 General Clauses Ordinance including sections 20 and 34 thereof.
(3) Rules made under subsection (1) or amended under subsection (2) shall be delivered, or sent by registered post or recorded delivery, to every member at its registered office or principal place of business in Hong Koog and service shall be deemed to have been "effected upon delivery of 48 hours after the time of posting as the case may be.
13. (1) The Committee shall appoint a Secretary and may appoint Appointmen other officers, Servants and agents at such remuneration and upon such of NONE. terms and conditions of appointment as it thinks fit.
(2) The Committee may grant, or make provision for the grant of pensions, gratuities and retirement or other benefits to employees of the Association.
14. The function of the Consultative Council shall be to advise the Committee on any matter relating to the business of banking which-
(a) is referred to it by the Committee: (b) it chooses to consider;
(c) it is requested, by a nolice in writing signed by not less than 50 members, to consider with a view to advising the Committee.
15. (1) Meetings of the Consultative Council shall be held at such times and places as the Consultative Council or the Chairman thereof may from time to time appoíaL
(2) The following procedural provisions shall apply to every meeting of the Consultative Council-
(a) 15 members shall form a quorum;
(b) the Chairman, or in his absence the Vice-Chairman, shall preside or if both are absent the members shall appoint one of their number to preside.
(3) Subject to subsection (2), the Consultative Council shall regulate its own procedure relating to its meeting and the conduct thereof.
(4) The Governor in Council may, by order published in the Gazette. amend the number provided for in subsection (2)(a).
Forgion of the Conrullative Council.
Meeting at the Consultative
Council.
PART V
Disciplinary PROCEEDINGS
16. The Committee shall
Disaglip||bruery: Commlerse,
(a) appoint from amongst its members a Disciplinary Committee of
4 members comprising the following-
(1) two continuing members;
(ii) one member whose place of incorporation is Hong Kong or which is licensed under section 42 of the Banking Ordinance;
(D) one member whose place of incorporation is outside Hong Koog; and
(b) designate one of the members of the Disciplinary Committee to
be chairman thereof.
(Cap. 195.)