1967-HKRS28-8-34_Part02 — Page 36

Amendment

of section 66.

Amendment

of section 67.

Repeal of sec- tions 70 to 73.

Amendment of section 74.

Addition of new section 76A.

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(2) Every director and every manager of a bank which fails to comply with an order of the Governor in Council under paragraph (i) of subsection (1) of section 14 shall be guilty of an offence and shall be hable on conviction on indictment to a fine of two thousand dollars for every day during which the offence continues and to imprisonment for five years.". 60. Section 66 of the principal Ordinance is amended by inserting the following after "document"—–

"security".

61, Section 67 of the principal Ordinance is amended by deleting "Financial Secretary" in subsection (1) and substituting the following-

"Commissioner”,

62. Sections 70, 71, 72 and 73 of the principal Ordinance are repealed.

63. Section 74 of the principal Ordinance is amended by deleting "repealed Ordinance" and substituting the following-

"Banking Ordinance 1948, now repealed,”.

64. The principal Ordinance is amended by adding the following new section after section 76--

“Transi~

sions Con“

76A. (1) Any licence granted by the Financial tional provi- Secretary under section 7 which is in force at the commencement of the Banking (Amendment) Ordin- ance 1967, whether the same was granted thereunder pursuant to the repealed section 73 or otherwise, shall be deemed to have been granted under section 7 by the Governor in Council.

sequent

upon

Banking

(Amend-

mment)

1967.

Ordinance

(2) Any licence granted by the Financial Secre- tary under section 42 which is in force at the com- mencement of the Banking (Amendment) Ordinance 1967 shall be deemed to have been granted under section 42 by the Governor in Council.

(3) Any exemption granted by the Financial Secretary under subsection (2) of section 19 or sub- section (4) of section 37 which is in force at the commencement of the Banking (Amendment) Ordin- ance 1967 shall be deemed to have been granted under the same subsection by the Commissioner.

(4) Any approval given by the Financial Secre- tary under subsection (2) of section 27 and any consent given by the Financial Secretary under section

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41 or subsection (1) of section 67 which is in force at the commencement of the Banking (Amendment) Ordinance 1967 shall be deemed to have been given under the same provision by the Commissioner.".

This printed impression has been carefully compared by me with the Bill which passed the Legislative Council on the 25th day of April, 1967, and is found by me to be a true and correctly printed copy of the said Bi.

(Secretariat CR 119/65)

مسجد

Deputy Clerk of Councils.

E