- 9.
"The Guide provides guidance to institutions seeking authorisation under the Banking Ordinance about the scheme of supervision contained in the Ordinance and the policies and approach of the HKMA in implementing it. It is also relevant to existing authorised institutions as the authorisation criteria continue to apply to them after authorisation," said a spokesman for HKMA.
The spokesman added that the publication of the Guide would further increase the transparency of HKMA's approach in regulating authorised institutions. It is thus an important step in the development of the banking supervisory system in Hong Kong.
The Guide also explains HKMA's powers in dealing with a problem authorised institution; the restriction on the use of the word "bank" in business names or descriptions; and the procedures for applying for authorisation. The Guide will be available at $300 each at the Government Publications Centre at ground floor, Low Block, 66 Queensway, Hong Kong, from Friday (November 17).
End/Wednesday, November 15, 1995
Disciplined Services Medals awarded to 36 customs officers
The Commissioner of Customs and Excise, Mr Don Watson, today (Wednesday) presented the Hong Kong Disciplined Services Medals to 36 officers of the Customs and Excise Department at a ceremony at the department's Senior Officers' Mess.
Nine of the recipients received the First Clasp to their long service medals while two were awarded the Second Clasp.
At the ceremony, Mr Watson also presented Long and Meritorious Service Certificates and Gold Pins to five officers in recognition of their 30-year services in the department.
End/Wednesday, November 15, 1995
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