TNAG-1487-FCO40-2044-Hong-Kong-banking-Banking-Bill-1986-1986 — Page 73

A226

Ord. No. 27/86

BANKING

BANKING

Ord. No. 27/86

A227

(Cap. 111.)

Enactments

Estate Duty Ordinance

(Cap. 112.)

Inland Revenue Ordinance

(Cap. 163.)

Money Lenders Ordinance

(Cap. 219.)

Conveyancing and Property Ordinance

(Cap. 250.)

Commodities Trading Ordinance

(Cap. 316, sub. leg.)

Census and Statistics (Annual Survey of Banks, Deposit-taking Companies and

Representative Offices of Foreign Banks) Order

Amendments

Delete from the proviso to section 34(7) "section 7 of the Banking Ordinance" and substitute the following—

"section 16 of the Banking Ordinance 1986".

In section 2(1)—

(a) delete from the definition of "deposit" the words "Deposit-taking Companies Ordinance" and sub- stitute the following---

"Banking Ordinance 1986"; and

(b) delete the definition of "financial institution" and

substitute the following-

46

"financial institution", means—

(a) an authorized institution licensed or registered under the Banking Ordin- ance 1986;

(b) any associated corporation of such an authorized institution which, being exempt by virtue of section 3(2)(a) or (b) or (c) of the Banking Ordinance 1986, would have been liable to be licensed or registered as a deposit- taking company under that Ordin- ance had it not been so exempt;".

Delete items 1 and 2 of the First Schedule and substitute the following-

institution "1. Any authorized

licensed or registered under the Banking Ordinance 1986 and any subsidiary thereof.".

Delete from section 45(1)(c) "a bank (as defined in the Banking Ordinance) or a deposit-taking company (as defined in the Deposit-taking Companies Ordinance)" and substitute the following-

"an authorized institution (as defined in the Bank- ing Ordinance 1986)".

Delete from section 2(1) in the definition of "licensed deposit-taking company" the words "Deposit-taking Companies Ordinance" and substitute the following

"Banking Ordinance 1986".

Delete from the definition of "deposit-taking company" in paragraph 2 "Deposit-taking Companies Ordinance" and substitute the following-

"Banking Ordinance 1986".

Enactments

Monetary Statistics Ordinance

Stock Exchanges Unification Ordinance

The Hong Kong Association of Banks Ordinance

The Hong Kong Association of Banks By-laws

Money Changers (Disclosure of Rates, Charges and Commissions) Ordinance 1985

Overseas Trust Bank (Acquisition) Ordinance 1985

Securities (Specification of Approved Assets, Liquid Assets and Ranking Liabilities) Notice 1986

Overseas Trust Bank (Compensation of Registered Holders of Shares) Regulations 1986

Amendments

Delete from the definition of "deposit-taking company" (Cap. 356.) in section 2 "Deposit-taking Companies Ordinance" and substitute the following-

"Banking Ordinance 1986".

Delete from section 13(1)(b) "Deposit-taking Companies (Cap. 361.) Ordinance" and substitute the following-

"Banking Ordinance 1986".

(a) Delete from the definition of "licensed bank" in (Cap. 364.)

section 2 "7 or section 42 of the Banking Ordin- ance" and substitute the following

"16 or section 107 of the Banking Ordinance 1986".

(b) Delete from sections 8(1)(b)(i) and 16(a)(ii) “sec- tion 42 of the Banking Ordinance" and substitute the following-

"section 107 of the Banking Ordinance 1986”. Delete from by-law 2(2) "42 of the Banking Ordinance" and substitute the following-

"107 of the Banking Ordinance 1986".

(Cap. 364,

sub. lcg.)

Delete from section 3(1)(b) “Deposit-taking Companies (9 of 1985.) Ordinance" and substitute the following-

"Banking Ordinance 1986".

Delete from sections 10(2) and 12 ", the Deposit-taking (30 of 1985.) Companies Ordinance,”.

Delete from the definition of "deposit-taking company" (L.N. 7/86.) in paragraph 2 "Deposit-taking Companies Ordinance" and substitute the following--

"Banking Ordinance 1986".

Delete from paragraph 6(3) of the Schedule "20, 23, 24, (L.N. 54/86.) 27, 28 and 29 of the Banking Ordinance" and substitute the following-

“77, 81, 83, 87, 88 and 90 of the Banking Ordinance 1986".

Passed by the Hong Kong Legislative Council this 28th day of May 1986.

LAW Kam-sang,

Clerk to the Legislative Council.

(Acquisition) Ordinance

(Cap. 345.)

Hang Lung Bank

(Cap. 345, sub. leg.)

Hang Lung Bank (Compensation of Former Shareholders) Regulations

Delete from sections 9(2) and 12 ", the Deposit-taking Companies Ordinance,”.

Delete from paragraph 6(3) of the Schedule "20, 23, 24, 27, 28 and 29 of the Banking Ordinance" and substitute the following-

"77, 81, 83, 87, 88 and 90 of the Banking Ordinance 1986".

This printed impression has been carefully compared by me with the bill, and is found by me to be a true and correctly printed copy of the said bill.

LAW Kam-sang,

Clerk to the Legislative Council.