TNAG-1487-FCO40-2044-Hong-Kong-banking-Banking-Bill-1986-1986 — Page 186

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(a)

Clause 60(1) will re-instate the requirement for a copy of the audited accounts to be published in the newspapers.

(e)

Minor amendments will be made to clauses 61(1)

and 99 to clarify or improve their operation.

We

The Ad Hoc Group raised with the Administration the

basic question of appeals from decisions of the Commissioner

and the Financial Secretary to the Governor-in-Council, and

queried whether the forum of appeal might not more

appropriately be a judicial or quasi-judicial tribunal. understand that a general review is in progress over the question of administrative appeals, and we have been assured

by the Administration that this point will be taken into

account in the light of this review.

Reforms have however been agreed on some specific

measures, to provide for an appeal to lie to the

Governor-in-Council from decisions where there was previously

no right of appeal, namely:-

(a)

Under clauses 21 (6) and 22 (1A) from the

imposition of conditions by the Commissioner on

or affecting the registration of a

Deposit-taking Company.

(b) Under clause 25 (5) from the imposition of

conditions by the Financial Secretary on the licensing of a Deposit-taking Company.

Amendments will accordingly be moved to these

clauses at the Committee stage and also to clause 99 (1) by

permitting an appeal from the Commissioner to the Financial