TNAG-1269-FCO40-1619-Banking-situation-in-Hong-Kong-1983 — Page 29

3

Clause

(b)

Amendment Proposed

is given by a mother bank

incorporated in Hong Kong or a

bank established in a country,

state or place where there is

a banking supervisory authority

and that bank is, in the

opinion of the Commissioner,

adequately supervised by that

authority; and

(c) has been given pursuant to a

resolution of the board of

directors of the other bank and

with the knowledge of the

banking supervisory authority

of the country, state or place

where the other bank is

incorporated.

(3) In accepting any letter of

comfort under subsection (2) the

Commissioner

<

(a) shall limit the aggregate amount

of any advances, loans, facilities

guarantees or liabilities

which the bank may make, grant

or incur to such aggregate