TNAG-1487-FCO40-2044-Hong-Kong-banking-Banking-Bill-1986-1986 — Page 309

C192

BANKING BILL

BANKING BILL

C193

Search warrants and seizures.

Defence where director or manager, etc. prosecuted.

Indemnity.

Execution of

seal.

129. (1) If a magistrate is satisfied by information on oath that there is reasonable ground for suspecting that an offence under this Ordinance has been committed, the magistrate may issue a warrant empowering any police officer to enter and search any premises specified in the warrant.

(2) A police officer to whom a warrant is issued under subsection (1) may— (a) break open any outer or inner door of or in any premises which he is

empowered by the warrant to enter and search;

(b) inspect, seize and remove anything which the police officer has reasonable grounds for believing to be or to contain evidence of an offence under this Ordinance; and

(c) remove by force any person who obstructs any entry, search, inspection, seizure or removal which he is empowered by this subsection to make.

(3) A person from whom any books, accounts or other documents have been seized and removed under subsection (2) shall, pending any proceedings for an offence under this Ordinance, be entitled to take copies of or extracts from such books, accounts or other documents.

(4) Any person who obstructs a police officer in the exercise of any power conferred on him by subsection (2) commits an offence and is liable on conviction upon indictment or on summary conviction to a fine of $50,000 and to imprisonment for 6 months.

130. (1) Subject to subsection (2), any person who is prosecuted in respect of any offence under this Ordinance shall have a good defence if he proves that the offence was committed without his consent or connivance and that he exercised all such diligence to prevent the commission of the offence as he ought to have exercised having regard to his position in the authorized institution in respect of which the offence was committed.

(2) Subsection (1) shall not apply to an offence under section 46(8), 47(2) or (3), 50(6), 64(5), 72(5), 73(2), 101(1), 121(7), 122(5), 124, 127 or 128.

131. No liability shall be incurred by—

(a) any public officer;

(b) any person authorized or employed by the Commissioner under section 8: (c) any person appointed under section 52(1)(B), or by order of the Governor in Council under section 53(1)(ii), to advise an authorized institution in the proper conduct of its business;

(d) any person who has assumed control of the business of an authorized institution pursuant to a direction under section 52(1)(C) or an order of the Governor in Council under section 53(1)(ii); or

(e) any person appointed under section 121(2),

as a result of anything done or omitted to be done by him bona fide in the exercise or purported exercise of any functions conferred or imposed by or under this Ordinance.

132. Notwithstanding anything contained in the articles of association or instruments under regulations of any authorized institution incorporated in Hong Kong with respect to the execution of instruments under its seal, but without prejudice to anything in such articles or regulations not inconsistent herewith, the seal of the institution shall not be affixed to any instrument except in the presence of a director of the institution and of one other person being either a director or an officer of the institution duly authorized in that behalf, and that director and such other person shall sign every instrument to which the seal of the institution is so affixed in their presence.

this Ordinance.

133. (1) Subject to section 71, the contravention of any prohibition in this Validity of Ordinance on the entering into of any contract shall not render that contract contract in unenforceable against the authorized institution if that contract was entered into in contravention of the ordinary course of the business of the institution and the person seeking to rely upon the contract had no knowledge of the contravention; and may be enforced at the instance of the institution if the court is satisfied the institution exercised all due diligence to avoid the contravention of the prohibition.

(2) Subsection (1) shall be deemed to have had effect from 1 April 1976, so, however, that nothing in that subsection as read with this subsection shall have effect in relation to any legal proceedings commenced before 5 August 1983.

134. (1) Notwithstanding any rule of law, any deposit taken in contravention of Action for section 12 or 14, and any interest accrued thereon, may be recovered by the depositor recovery of

deposits, etc. as money had and received.

(2) Where the registration of a registered deposit-taking company is revoked under section 31 or suspended under section 35 or 36 or where the deposit-taking licence of a licensed deposit-taking company is revoked under section 32 or suspended under section 35 or 36, such revocation or suspension shall not affect any right—

(a) of any person against such company; or

(b) of such company against any person.

expenses, etc.

135. (1) There shall be recoverable at the suit of the Attorney General as a civil Recovery of fees, debt due to the Crown from the authorized institution concerned, or in the case of an unincorporated bank, from the directors jointly and severally thereof—

(a) the amount of any fees payable under section 19, 23, 26, 45, 48, 51 or 113; (b) any remuneration and expenses payable by the authorized institution to any person appointed under section 52(1)(B) or by order of the Governor in Council under section 53(1)(ii) to advise the institution in the proper conduct of its business;

(c) any remuneration and expenses payable by the authorized institution to the Commissioner or to any person employed or authorized by the Com- missioner under section 8 to assist him in the control and carrying on of the business of the institution or to any other person who has assumed control of the business of the institution pursuant to a direction under sec- tion 52(1)(C) or an order of the Governor in Council under section 53(1)(ii); (d) any expenses ordered by the Financial Secretary to be defrayed by the

authorized institution under section 55(3); and

(e) any remuneration payable by the authorized institution to an auditor

appointed under section 59(2).

(2) There shall be recoverable, at the suit of the Attorney General, as a civil debt due from the applicants, jointly and severally, to the Crown, any expenses ordered by the Financial Secretary to be defrayed by the applicants under section 55(3).

(3) Any sum recoverable under this section at the suit of the Attorney General shall be a debt due to the Crown within the meaning of section 265(1)(a) of the Companies Ordinance and section 38(1)(a) of the Bankruptcy Ordinance.

(Cap. 32.) (Cap. 6.)

Use of English

136. (1) All entries in books and accounts kept by authorized institutions shall be recorded in the English language and the Arabic system of numerals shall be language. employed.

(2) All forms and information required to be sent and all returns required to be made to the Commissioner pursuant to any of the provisions of this Ordinance shall be compiled in the English language and the Arabic system of numerals and, if any such form, information or return is a translation, be certified to the satisfaction of the Commissioner as a true and correct translation.