TNAG-1269-FCO40-1619-Banking-situation-in-Hong-Kong-1983 — Page 32

Clause

4

(

of 1983.)

-

5

Amendment Proposed

(4) The Financial Secretary mayt any

time direct the Commissioner either

generally or in any particular case as to the

limits to be imposed in the exercise of his

functions under paragraph (a) of

subsection (3) and it shall be the duty

of the Commissioner to comply with any

such direction.

(5) Where a letter of comfort was

G

(a) prior to the commencement of the

Deposit-taking Company (Amendment)

Ordinance 1983 accepted by the

Commissioner as a guarantee in the

exercise or purported exercise

of his powers under proviso (b)

to subsection (1); and

(b) that letter of comfort could

properly have been accepted for the

purposes of paragraph (bb) of the

proviso to subsection (1), after

such commencement by virtue of the

provisions of subsection (2),

if the Commissioner had been of

the opinion referred to in

paragraph (b) of that subsection,