A178
Ord. No. 27/86
BANKING
BANKING
Ord. No. 27/86
A179
Returns and information to be submitted to the Commissioner.
PART XII
DISCLOSURE OF INFORMATION BY AUTHORIZED INSTITUTIONS
63. (1) Every authorized institution shall submit to the Commissioner- (a) not later than 14 days after the last day of each calendar month a return showing the assets and liabilities of its principal place of business in Hong Kong and all local branches thereof at the close of business on the last business day of that month; and
(b) not later than 14 days after the last day of each quarter ending on 31 March, 30 June, 30 September and 31 December respectively, or upon any other day which may be approved by the Commissioner, a return relating to its principal place of business in Hong Kong and all local branches thereof as at the close of business on the last business day of the preceding quarter:
Provided that the Commissioner may by permission in writing allow the returns referred to in paragraphs (a) and (b) to be submitted at less frequent intervals.
(2) The Commissioner may require an authorized institution to submit such further information as he may consider necessary for the proper understanding of the financial position of the institution and such information shall be submitted within such period and in such manner as the Commissioner may require.
(3) The Commissioner may require any return submitted to him pursuant to subsection (1), or any information submitted to him pursuant to a requirement under subsection (2), to be accompanied by a certificate----
(a) of the auditor appointed under section 59(1) or of the auditors appointed
under section 59(1) and (2), as the case may be; and
(b) in the case of an authorized institution which has been exempted under section 60(4) from section 59(1), of an auditor approved by the Com- missioner for the purposes of this paragraph,
as to all or any of the following---
(i) whether or not, in the opinion of the auditor or auditors, the return or information is correctly compiled from the books or records of the institution and, if not correctly compiled, the nature and extent of the incorrectness;
(ii) whether or not, during the period to which the return or information relates, there appears to the auditor or auditors to be any contravention by the institution of any of its duties under Part XII, XIV, XV, XVII or XVIII of this Ordinance, and, if it so appears, the nature of the contravention and the evidence therefor;
(iii) whether or not, during the period to which the return or information relates, there was any matter which, in the opinion of the auditor or auditors, adversely affects the financial position of the institution to a material extent, and if there was, the nature of the matter and the reason why the auditors are of that opinion.
(4) Notwithstanding section 120, the Commissioner may prepare and publish consolidated statements aggregating the figures in the returns furnished under subsection (1).
(5) Every director and every manager of an authorized institution which contravenes subsection (1), or fails to comply with any requirement under sub- section (3), commits an offence and is liable on conviction upon indictment or on summary conviction to a fine of $50,000 and, in the case of a continuing offence, to a further fine of $5,000 for every day during which the offence continues.
(6) Every director and every manager of an authorized institution which fails without reasonable excuse to comply with any requirement under subsection (2) commits an offence and is liable--
(a) on conviction upon indictment to a fine of $200,000 and to imprisonment for 2 years and, in the case of a continuing offence, to a further fine of $10,000 for every day during which the offence continues; or
(b) on summary conviction to a fine of $50,000 and to imprisonment for 6 months and, in the case of a continuing offence, to a further fine of $5,000 for every day during which the offence continues.
(7) Any person who signs any document for the purposes of this section which he knows or reasonably ought to know to be false in a material particular commits an offence and is liable-
(a) on conviction upon indictment to a fine of $500,000 and to imprisonment
for 2 years; or
(b) on summary conviction to a fine of $50,000 and to imprisonment for 6
months.
64. (1) Every authorized institution incorporated in Hong Kong shall, if so Information on required by the Commissioner, inform him of the name and address of, and the shareholding, etc. nature of the business carried on by, every company-
(a) in which the institution holds the beneficial ownership, directly or indirectly,
of an aggregate of 20 per cent or more of the share capital;
(b) where any director or manager of that company is also a director or
manager of the institution;
(c) where the name of that company has common features with the name of the
institution;
(d) which, by whatever means, acts in concert with the institution to promote
the institution's business; or
(e) the controller of which is also the controller of the institution.
(2) The Commissioner may require any authorized institution which has submitted to him information pursuant to subsection (1) to submit to him such further information as he may consider necessary to obtain, in the interests of depositors of the institution, about the assets, liabilities and transactions of any such company.
(3) Information that is required to be submitted under this section shall be submitted within such period and in such manner as the Commissioner may require.
(4) Every director and every manager of an authorized institution which fails without reasonable excuse to comply with any requirement under this section commits an offence and is liable-
(a) on conviction upon indictment to a fine of $200,000 and to imprisonment for 2 years and, in the case of a continuing offence, to a further fine of $10,000 for every day during which the offence continues; or
(b) on summary conviction to a fine of $50,000 and to imprisonment for 6 months and, in the case of a continuing offence, to a further fine of $5,000 for every day during which the offence continues.
(5) Any person who signs any document for the purposes of this section which he knows or reasonably ought to know to be false in a material particular commits an offence and is liable-
(a) on conviction upon indictment to a fine of $500,000 and to imprisonment
for 2 years; or
(b) on summary conviction to a fine of $50,000 and to imprisonment for 6
months.
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