TNAG-1649-FCO40-2296-Hong-Kong-Commissioner-of-Banking-s-annual-report-for-1986--1987 — Page 17

BANKING (AMENDMENT) BILL 1987

Enclosure No. 4-

A BILL

To

C491

Amend the Banking Ordinance 1986.

Enacted by the Governor of Hong Kong, with the advice and consent

of the Legislative Council thereof.

1.

This Ordinance may be cited as the Banking (Amendment) Ordin- Short title. ance 1987.

2. Section 2(1) of the principal Ordinance is amended-

Amendment of

section 2.

(a) by inserting after the definition of "advertisement" the following— (27 of 1986.)

""approved currency" means a currency-

(a) freely convertible into Hong Kong dollars; or

(b) approved by the Commissioner;"; and

(b) by deleting paragraph (b)(i) of the definition of "deposit” and

substituting the following-

(Cap. 32.)

3.

“(i) upon terms involving the issue, by any company, of debentures or other securities in respect of which a prospectus has been registered under the Companies Ordinance;".

Section 3(1) of the principal Ordinance is amended—

(a) in paragraph (h), by deleting "or professional accountant (within

the meaning of the Professional Accountants Ordinance)"; and

(b) by deleting paragraphs (1), (m) and (n) and substituting the

following-

"(1) any person for remittance outside Hong Kong; or

Amendment of section 3.