5
WEDNESDAY, AUGUST 10, 1983
* THE DISCLOSURE REQUIRED OF THE BANK OR DEPOSIT-TAKING
COMPANY MUST RELATE TO THE SAME PERSON UNDER SUSPICION AND NO ONE ELSE.
*
*
BANK OR DEPOSIT-TAKING COMPANY NEEDS ONLY DISCLOSE WHETHER THAT SAME PERSON HAS ACCESS TO ANY SAFE DEPOSIT BOX
OR ACCOUNT. THEY ARE NOT REQUIRED TO DISCLOSE DETAILS.
THE COMMISSIONER MUST APPLY TO A MAGISTRATE FOR A WARRANT IF HE WISHES TO GET SUCH DETAILS FROM THE BANK OR DEPOSIT-TAKING COMPANY UNDER SECTION 50(7) OF THE POLICE FORCE ORDINANCE.
* THE POWER GIVEN IN THIS BILL MUST BE EXERCISED BY
À POLICE OFFICER OR AN OFFICER OF THE CUSTOM AND EXCISE SERVICE NOT BELOW THE RANK OF ASSISTANT COMMISSIONER WHO IS AUTHORISED IN WRITING BY HIS COMMISSIONER IN THAT BEHALF.
MISS TAM SAID HENCE THE POWER OF INVESTIGATION IS RESTRICTED TO A PARTICULAR PERSON'S INVOLVEMENT IN A PARTICULAR CRIME.+
SHE SAID THAT IN PART 111 OF THE PREVENTION OF BRIBERY ORDINANCE CAP 201, THERE WERE IN FACT FAR MORE EXTENSIVE POWER OF INVESTIGATION THAN WHAT WAS PROPOSED IN THIS BILL.
THE PROPOSED AMENDMENTS TO THIS BILL SUGGESTED BY MEMBERS OF THE LEGISLATION SCRUTINY GROUP ARE -
*
UNDER SECTION 67(1), THE PERIOD SPECIFIED FOR COMPLIANCE WITH A NOTICE FROM THE COMMISSIONER OF POLICE SHOULD BE MODIFIED FROM WITHIN SUCH PERIOD AS MAY BE SO SPECIFIED+ TO ALLOW FOR A REASONABLE+ PERIOD FOR COMPLIANCE;
* UNDER SECTION 67(5)(1) AND (11), THE PENALTY FOR ANY BANK OR
DEPOSIT-TAKING COMPANY OFFICER OR EMPLOYEE IN FAILING TO COMPLY WITH THE NOTICE ISSUED UNDER SECTION 67(1) OR GIVING FALSE INFORMATION SHOULD BE REDUCED FROM THREE YEARS IMPRISONMENT TO ONE YEAR ON A CONVICTION ON INDICTMENT, AND FROM ONE YEAR TO SIX MONTHS IMPRISONMENT ON SUMMARY CONVICTION AND
* UNDER SECTION 67(6)(1) AND (11), THE PENALTY FOR ANY
INDIVIDUAL WHO WILFULLY CAUSES OR PROCURES THE BANK OR DEPOSIT-TAKING COMPANY NOT TO COMPLY WITH A SECTION 67(1) NOTICE IS ALSO REDUCED BY THE SAME SCALE AS (B) ABOVE.
MR SO SAID +1 CONSIDER IT UNWISE TO SACRIFICE THE STATUS OF HONG KONG AS AN INTERNATIONAL FINANCIAL CENTRE ONLY FOR THE CONVENIENCE OF CATCHING A FEW MORE VILLAINS AS MORE HARM THAN GOOD WOULD BE DONE.
+ IT IS NOT BY SHEER GOOD LUCK THAT HONG KONG MANAGES TO ACHIEVE HER PRESENT STATUS AS AN INTERNATIONAL FINANCIAL CENTRE.
+THERE ARE MANY FACTORS ATTRIBUTABLE TO HER SUCCESS, AMONG WHICH ARE CONFIDENTIALITY IN BUSINESS TRANSACTIONS AND TRUST PLACED BY THE CLIENTELE.+
/HE SAID