1976-HKRS28-16-24_Part01 — Page 15

LABIIY Df director, EU, To. 1965 – 16, 1. IL)

Search WIENNES and releure.

Certua peribad probibited troo

aku d employees of nemistered deposit-talbčour COLD THE COA except with consent of

CommiedosST.

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(2) Where the registration of a deposit-taking company is revoked under section 14 or suspended under section 15, such revocation or sus- pension shall not affect any right-

(a) of any person against such company; or

(b) of such company against any person.

31. (1) Where an offence under this Ordinance committed by a com- pany is proved to have been committed with the consent or connivance of, or to be attributable to any neglect on the part of, any director, manager. secretary or other officer of the company or any person who was purporting to act in any such capacity, he as well as the company, shall be guilty of the offence and shall be liable to be proceeded against and punished accordingly.

(2) For the purposes of this section, a person is deemed to be a director of a company if he occupies the position of a director, whatever the title of his office, or is a person in accordance with whose directions or instructions the directors of the company or any of thern act; but a person shall not, by reason only that the directors of a company act on advice given by him in a professional capacity, be taken to be a person in accord- ance with whose directions or instructions those directors act,

(3) For the purposes of this section "company" means, in addition to a company as defined in section 2, any other body of persons, corporate or unincorporate

JZ. (1) If a magistrate is satisfied by information on oath that there is reasonable ground for suspecting that an offence under this Ordinance has been committed, the magistrate may issue a warrant empowering any police officer to enter and search any premises specified in the warrant.

(2) A police officer to whom a warrant is issued under subsection (1) may-

(a)

break open any outer or inner door of or in any premises which ha is empowered by the warrant to coler and search;

(b) inspect, seize and remove any thing which the police officer has reasonable grounds for believing to be or to contain evidence of an offence under this Ordinance; and

(e) remove by force any person who obstructs any entry, search, in- spection, seizure or removal which he is empowered by this sub- section to make.

(3) A person from whom any books, accounts ar other documents have been seized and removed under subsection (2) shall, pending any proceedings for an offence under this Ordinance, be entitled to take copies of or extracts from such books, accounts or other documents.

(4) Any person who obstructs a police officer in the exercise of any power conferred on him by subsection (2) shall be guilty of an offence and shall be liable on conviction to a fine of $5,000 and to imprisonment for 6 months.

33 (1) No person who-

(a) is bankrupt or has entered into a composition with his creditors; has been convicted in any country or territory of an offence in- volving fraud or dishonesty; or

(6)

(c) has been a director, or otherwise concerned in the management, of any bank or deposit-taking company which has been wound up by a court or whose licence (in the case of a bank) or registration (in the case of a deposit-taking company) has been revoked,

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shall, without the consent in writing of the Commissioner, be a director, manager or secretary of a registered deposit-taking company or an employee of such a company in any other capacity.

(2) Any person who contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction upon indictment to a line of $5,000 and to imprisonment for 12 months

34. (1) Where the Commissioner—

(a) has refused to register a company under section 10(2)

(b) has revoked the registration of a company under section 14(1); or (c) has suspended the registration of a company under section 15. the company may, within 14 days——

( after the receipt of the notification of the refusal under section

[007)

(ii) after the receipt of the notification of the revocation under section

14(4); or

(i) after the receipt of the notification of the suspension under section

15.

as the case may be, appeal to the Governor in Council against the refusal or revocation.

(2) Where registration is refused under section 10(2) or revoked under section 14(1) or suspended under section 15, that refusal, revocation of suspension shall take effect immediately, notwithstanding that an appeal has been or may be made under this section.

ADDERAL

35. (1) The Financial Secretary may, by notice in the Gazette, exempt Power to grant any person or class of persons from section 6.

(2) An exemption under this section shall be subject to such conditiona

as are specified in the notice.

(3) The Financial Secretary may at any time by notice in the Gazette--

(0) revoke an exemption under this section; or

(6) revoke, vary, or add to, any condition subject to which auch

exemption is granted.

cxcmpicos.

36. (1) The Commissioner may specify the form of application for Power o registration and of any notice, certificate of other document required for web formi, the purposes of this Ordinance.

(2) The Commissioner shall, by notice in the Gazette, specify the class of particulars in respect of a registered deposit-taking company to which section 191) applies.

ERC

37. The Governor in Council may, by notice in the Gazette, amend Power to unend any Schedule.

FIRST SCHEDULE

SPECIFIED SOM

The sum for the purposes of section 8(1) is $50,000.

(35.8 & 37.]

Schedules,