76
77
Saving of certain letters of comfort.
Repeal.
(Cap. 155.) (Cap. 328.)
Commissioner, the Financial Secretary or the Governor in Council, as the case may be, to or in relation to the bank which holds that banking licence as if, on that commencement, that act, matter or thing were, to that extent, done under Part X by the Commissioner, the Financial Secretary or the Governor in Council, as the case may be, to or in relation to the bank, and the provisions of this Ordinance shall apply accordingly.
152. (1) A letter of comfort which was, immediately before the commencement of this Ordinance, deemed by virtue of section 23(5) of the former Banking Ordinance to at all times to have been accepted under paragraph (bb) of the proviso to section 23(1) of the former Banking Ordinance shall, on and from that commencement, be deemed at all times to have been accepted under paragraph (c) of the proviso to section 81(1), and the provisions of this Ordinance shall, subject to subsection (2), apply accordingly.
(2) Where the former Commissioner had not, before the commencement of this Ordinance, exercised his powers under section 23(6) of the former Banking Ordinance in relation to the former bank for which a letter of comfort referred to in subsection (1) was provided, then, on and from that commencement, and until such time as the Commissioner exercises his powers under section 81(6) in relation to the bank for which that letter of comfort is provided, the provisions of section 81(4) shall not apply in relation thereto.
(3) A letter of comfort which was, immediately before the commencement of this Ordinance, deemed by virtue of section 22(5) of the former Deposit-taking Companies Ordinance to at all times to have been accepted under paragraph (bb) of the proviso to section 22(1) of the former Deposit-taking Companies Ordinance shall, on and from that commencement, be deemed at all times to have been accepted under paragraph (c) of the proviso to section 81(1), and the provisions of this Ordinance shall, subject to subsection (4), apply accordingly.
3. Renewal of registration fee (section 23(2))
4. Deposit-taking licence fee (section 26(1))
5. Renewal of deposit-taking licence fee (section 26(2))
6. Inspection fee (section 27(3))
7. Fee for a copy or extract, per page (section 27(3))
8. Fee for the establishment of a local branch of a bank (section 45(1))
9. Annual fee for maintaining a local branch of a bank (section 45(1)
and (2))
10. Fee for the establishment of a local branch of a deposit-taking
company (section 45(1))
11. Annual fee for maintaining a local branch of a deposit-taking
company (section 45(1) and (2))
12. Fee for the establishment of a local representative office (section
48(1))
13. Annual fee for maintaining a local representative office (section
48(1), (2) and (3)) .
14. Fee for the establishment of an overseas branch of a bank (section
51(1))
15. Annual fee for maintaining an overseas branch of a bank (section
51(1) and (2)).
16. Fee for the establishment of an overseas branch of a deposit-taking
company (section 51(1))
$
50,000
170,000
170,000
10
5
17,000
17,000
8,500
8,500
17,000
17,000
34,000
34,000
17,000
17,000
18. Fee for the establishment of an overseas representative office of a
bank (section 51(1))
8,500
19. Annual fee for maintaining an overseas representative office of a
bank (section 51(1) and (2))
8,500
20. Fee for the establishment of an overseas representative office of a
deposit-taking company (section 51(1))
8,500
[ss. 14 & 139(1).]
21. Annual fee for maintaining an overseas representative office of a
deposit-taking company (section 51(1) and (2))
22. Annual banking licence fee for unincorporated bank (section 113(1))
8,500
5,000
(4) Where the former Commissioner had not, before the commencement of this Ordinance, exercised his powers under section 22(6) of the former Deposit-taking Companies Ordinance in relation to the former deposit-taking company for which a letter of comfort referred to in subsection (3) was provided, then, on and from that commencement, and until such time as the Commissioner exercises his powers under section 81(6) in relation to the deposit-taking company for which the letter of comfort is provided, the provisions of section 81(4) shall not apply in relation thereto.
153. The Banking Ordinance and the Deposit-taking Companies Ordinance and all subsidiary legislation made under either of those Ordinances are repealed.
FIRST SCHEDULE
SPECIFIED SUM
17. Annual fee for maintaining an overseas branch of a deposit-taking
company (section 51(1) and (2))
1. The sum for the purposes of section 14(1)(a) is $100,000 or an equivalent amount
in any other currency.
2. The sum for the purposes of section 14(1)(b) is $500,000 or an equivalent amount
in any other currency.
SECOND SCHEDULE
[ss. 19, 23, 26, 27, 45, 48, 51, 113, 139(2) & 148.]
FEES
1. Annual banking licence fee for bank, other than an unincorporated
bank (section 19(1))
2. Registration fee (section 23(1))
360,000 50,000
THIRD SCHEDULE
[ss. 102 & 139(3).]
CAPITAL TO RISK ASSETS RATIO
1. The capital to risk assets ratio of an authorized institution shall be calculated as that ratio, expressed as a percentage, between the capital base, as calculated in paragraph 2, and the risk assets, as calculated in paragraph 3, of the institution.
2.
The capital base of an authorized institution shall be calculated by adding the value, in Hong Kong dollars, of its-
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