TNAG-0872-FCO40-1082-Legislation-for-employment-in-Hong-Kong-1979 — Page 35

A50

Ord. No. 17/79

EXCHANGE FUND (AMENDMENT)

This printed impression has been carefully compared by me with the bill, and is found by me to be a true and correctly printed copy of the said bill.

STEPHEN S. P. TAM,

Clerk to the Legislative Council.

T

BANKING (AMENDMENT)

HONG KONG

L.S.

No. 18 of 1979

I assent.

Ord. No. 18/79

AS1

MURRAY MAcLehose,

Governor.

26th April, 1979.

An Ordinance to amend the Banking Ordinance.

[27th April, 1979]

Enacted by the Governor of Hong Kong, with the advice and

consent of the Legislative Council thereof.

1. This Ordinance may be cited as the Banking (Amendment) Short title. Ordinance 1979.

2. The principal Ordinance is amended by deleting the long title Replacement and substituting the following—

"To make better provision for the licensing and control of banks and banking business, to regulate such business for monetary policy purposes, and to make provision for matters connected therewith.".

of long title. (Cap. 155.)

3. The principal Ordinance is amended by adding, after section Addition of 18, the following section--

**Variation

of minimum

holding of

specified liquid assets for

18A. The Financial Secretary may from time to time,

in pursuance of the monetary policy of the Government, by order, which shall be published in the Gazette, raise or reduce the minimum percentage of deposit liabilities monetary policy by reference to which every bank is required to maintain

a holding-

purposes.

4.

(a) in specified liquid assets pursuant to section 18(2);

or

(b) in specified liquid assets in the form mentioned

in section 18(3).".

new section 18A.

Section 64(1)(a) of the principal Ordinance is amended by in- Amendment of serting after "section 18" the following-

section 64.

"or 18A".

Passed by the Hong Kong Legislative Council this 25th day of

April 1979.

STEPHEN S. P. Tam,

Clerk to the Legislative Council.

This printed impression has been carefully compared by me with the bill, and is found by me to be a true and correctly printed copy of the said bill.

STEPHEN S. P. Tam,

Clerk to the Legislative Council.