TNAG-1649-FCO40-2296-Hong-Kong-Commissioner-of-Banking-s-annual-report-for-1986--1987 — Page 44

ANNUAL REPORT FOR 1986

Introduction

this As

a

brief

the

is the first Report under the

Banking

1986, Ordinance,

summary of development of prudential supervision leading up to the enactment of the Banking Ordinance will be of assistance. As early as 1948, a Banking Ordinance

sought:

"to provide for the regulation and licensing of

the business of banking.

帕

Licensing and other controls were in the hands of the Governor who had powers to require banks:

"to produce

to

such

person

and

within

such

period as may be named in such order any books, accounts or documents of any such bank."

In

first

of Commissioner

Banking

was

1964 the appointed with considerable powers under the Banking Ordinance, 1964, enacted:

"to make better provision for the licensing and control banks, banking business and matters

connected therewith."

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