7
Clause
Page
128.
Prohibition on receipt of commission by staff
69
129.
Search warrants and seizures
70
130.
Defence where director or manager, etc. prosecuted
70
131.
Indemnity
70
132.
Execution of instruments under seal
70
133.
Validity of contract in contravention of this Ordinance
71
134.
Action for recovery of deposits, etc.
71
135.
Recovery of fees, expenses, etc.
71
136.
Use of English language
71
137.
Power to specify forms
72
138.
Service of documents
72
139.
Power to amend Schedules ...
72
140.
Consent of Attorney General
72
141.
Consequential amendments
72
22
A BILL
To
Regulate banking business and the business of taking deposits and to make provision for the supervision of authorized institutions so as to provide a measure of protection to depositors and to promote the general stability and effective working of the banking system, and to provide for matters incidental thereto or connected therewith.
Enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof.
PART XXII
TRANSITIONAL, SAVINGS AND REPEAL
142.
Interpretation
143.
Appointed members of former committees to continue in office
144.
Former Commissioner to continue in office
223
72
73
73
145.
Authorized and employed persons to continue to be authorized and
employed
73
146.
Former applications for licences, etc. deemed to be applications under this
Ordinance ...
73
(c) by means of circulars, brochures, pamphlets or handbills;
147.
148.
Former licences, etc. deemed to be licences, etc. under this Ordinance ... Date of payment of certain fees
74
74
149.
Conditions attached to former licences, etc. deemed to be conditions under
this Ordinance
74
150.
Suspension of former registration, etc. deemed to be suspension under this
Ordinance ...
75
151.
Actions, etc. under Part IV of former Banking Ordinance deemed to be
actions under Part X of this Ordinance...
152.
Saving of certain letters of comfort
153.
Repeal
2 2 2
First Schedule.
Second Schedule.
Fees
Third Schedule.
Specified Sum
Capital to Risk Assets Ratio
Fourth Schedule. Liquidity Ratio Fifth Schedule.
Consequential Amendments
75
76
76
76
76
77
79
80
PART I
PRELIMINARY
1. (1) This Ordinance may be cited as the Banking Ordinance 1986.
(2) This Ordinance shall come into operation on a day to be appointed by the Governor by notice in the Gazette and the Governor may appoint different days for different provisions.
2. (1) In this Ordinance, unless the context otherwise requires-- "accounts" means any accounts, whether kept in writing or print or by any machine
or device;
"advertisement" means any form of advertising, whether notified or published- (a) in a newspaper, magazine, journal or other periodical publication;
(b) by the display of posters or notices;
(d) by an exhibition of photographs or cinematograph films; or
(e) by way of sound broadcasting or television,
and references to the issue of an advertisement shall be construed accordingly;
"auditor" means a professional accountant holding a practising certificate under the
Professional Accountants Ordinance;
"authorized institution" means--
(a) a bank; or
(b) a deposit-taking company;
Short title and
commencement.
Interpretation.
(Cap. 50.)
"authorized institution incorporated in Hong Kong" means an authorized institution
incorporated in Hong Kong by or under the Companies Ordinance or any (Cap. 32.) other Ordinance and any reference to a bank incorporated in Hong Kong or a deposit-taking company incorporated in Hong Kong shall be construed accordingly;
"authorized institution incorporated outside Hong Kong" means an authorized institution incorporated by or under the law or other authority in any place outside Hong Kong, and in this respect "incorporated" includes established and any reference to a bank incorporated outside Hong Kong or a deposit-taking company incorporated outside Hong Kong shall be construed accordingly;
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