نسا
(Cap. 32)
(Cap. 155)
Application.
(Cap. 29)
(Cap (193
"Committee" means the Deposil-Baking Companies Advisory Committee
established under section" 4;
"company" means a company which is
(a) registered under Part 1 of the Companies Ordinance;
(6) registered under Part IX of the Companies Ordinance; or
(4) incorporated outside Hong Kong and which has complied with
Part XI of the Companies Ordinance;
"deposit" means a loan of money at interest or repayable at a premium or repayable with any consideration in money or money's worth, but does not include a loan of money upon terms involving the issuan of deben- Lures or other securities in respect of which a prospectus has been registered under the Companies Ordinance; and references to the taking of a deposit shall be construed accordingly:
"depositor" racans a person entitled, or prospectively entitled, to repayment
of a deposit, whether made by him or not;
"deposit-taking company" means a company which carries on a business
of taking deposits;
"document" includes a circular, brochure, pamphlet, poster, handbill, pro- spectus and any other document which is directed at or likely to the read by members of the public, and also includes any newspaper, magazine, journal or other periodical publication;
"issue". in relation to an advertisement or document, includes publish, circulate, distribute or disseminate the advertisement or document; and also includes causing the advertisement or document to be issued; "licensed bank” means a bank licensed under section 7 or section 42 of the
Banking Ordinance;
"register" means the register maintained under section 12;
"registered", in relation to a deposit-taking company, means registered
under section 10.
by-
(2) For the purposes of this Ordinance-
(c) the taking of deposits includes holding out as being prepared to
take deposits;
(b) an advertisement issued by any person by way of display or ex- hibition in a public place shall be treated as being issued by him ou every day on which he causes or authorizes it to be displayed or exhibited;
(c) an advertisement or document which consists of or contains in- formation likely to lead, directly or indirectly, members of the public to-
(deposit money; or
(i) enter into, or offer to enter into, any agreement to deposit money,
shall be treated as being an advertisement or document which is or contains an advertisement to members of the public to do that act; (d) an advertisement or document issued by one person on behalf of or to the order of another shall be treated as an advertisement or document, as the case may be, by that other person.
3.
(1) This Ordinance shall not apply to the laking of any deposil
(u) a licensed bank;
(6) a trust company registered under Part VIII of the Trustee Ordin-
ance;
(c) a credit union registered under the Credit Unions Ordinance;
(c) a company, where such deposit is secured by a charge registered.
ar to be registered under the Companies Ordinance; (e) & person bona fide carrying on insurance business where such
deposit is taken in the ordinary course of such business;
(f) a person bona fide operating a superannuation or provident fund
where such deposit is taken for the purposes of such fund;
(Cap. 32)
(g) a public utility company specified in the Third Schedule to the
Inland Revenue Ordinance where such deposit is taken from a (Cmp. 112)
consumer:
(4) an employer where such deposit is taken from a bona fide em-
plovec:
(D) a solicitor or professional accountant (within the meaning of the
Professional Accountants Ordinance), where such deposit is taken (Cep. 304 from a client in the ordinary course of his practice;
O the Urban Council;
(4) a person who is a dealer within the meaning of the Securities (Cxp. 333)
Ordinance where section 84 of that Ordinance applies to auch deposit:
(0) a person or class of persons exempted by the Financial Secretary
under section 35.
(2) This Ordinance shall not apply to the taking of any deposit from- (a) a licensed bank;
(5) a registered deposit-taking company:
Provided that section 8 shall apply where a deposit is taken by a registered deposit-taking company from another registered deposit-taking company;
(c)
& money-lender registered under the Money-lenders Ordinance;
(Cap. 163)
KO
a pawnbroker licensed under the Pawnbrokers Ordinance,
(Cap. 166.)
PART 11
DEPOSIT-TAKING COMPANIES Advisory COMMITTEE
4. (1) There is hereby established a committes to be known as the Fatatlabmer Deposit-taking Companies Advisory Committee.
(2) The functions of the Committee shall be to advise the Governor
on mailers relating to this Ordinance.
(1) The Committee shall consist of—
(a) the Financial Secretary, who shall be the chairman;
(8) the Commissioner; and
(c) such other persons, being not less than 4 or more than 9, as the
Govenor may appoint.
(2) The members of the Committee appointed under subsection (1)(c) shall hold office for such period, and subject to such terms, as the Governor may specify in their appointment.
PART 10
TAKING OF DEPOSITS
and fortu
ot Deposit-
Companies Advisory Committee.
Coachwad of
ube Committer.
6. (1) Subject to section 7, no business of taking deposits shall be Restricdon on carried on except by a company which is registered as a deposit-taking taking of company.
deporu.
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