A480
Ord. No. 64/87
Amendment of
section 84.
Amendment of section 87.
BANKING (AMENDMENT)
to attach thereto in any particular case, permit the bank to grant, without complying with subsection (1), any facili specified in subsection (3) (or such of those facilities as specifies in the notice) to or on behalf of any person or body specified in subsection (4)(g) (or such of those persons or bodies as he specifies in the notice); and where the bank, in pursuance of such notice and in accordance with such condi- tions, grants any such facility to or on behalf of any such person or body it shall not thereby contravene subsec- tion (1).".
22. Section 84 of the principal Ordinance is amended-
(a) in subsection (1), by deleting "A" and substituting the following
"Subject to subsection (6A), a";
(b) in subsection (4), by deleting “A” and substituting the following—
"Subject to subsection (6B), a”;
(c) in subsection (6), by deleting paragraph (e) and substituting the
following
"(e) any controller (other than an authorized institution, or a bank incorporated outside Hong Kong which is not licensed under this Ordinance but is approved by the Commissioner for the purposes of this paragraph) of the deposit-taking company;"; and
(d) by inserting after subsection (6) the following—
"(6A) The Commissioner may, by notice in writing to a licensed deposit-taking company, and subject to such condi- tions as he may think proper to attach thereto in any particular case, permit the company to grant, without comply- ing with subsection (1), any facility specified in subsection (3) (or such of those facilities as he specifies in the notice) to or on behalf of any person or body specified in subsection (6)(g) (or such of those persons or bodies as he specifies in the notice); and where the company, in pursuance of such notice and in accordance with such conditions, grants any such facility to or on behalf of any such person or body it shall not thereby contravene subsection (1).
(6B) The Commissioner may, by notice in writing to a registered deposit-taking company, and subject to such condi- tions as he may think proper to attach thereto in any particular case, permit the company to grant any of the facilities specified in subsection (4)(a), (b) or (c) (or such of those facilities as he specifies in the notice) to or on behalf of any person or body specified in subsection (6)(g) (or such of those persons or bodies as he specifies in the notice); and where the company, in pursuance of such notice and in accordance with such conditions, grants any such facility to or on behalf of any such person or body it shall not thereby contravene subsection (4).”.
23. Section 87(1) of the principal Ordinance is amended by deleting "subsections (2) and (3)” and substituting the following-
"subsection (2)”.
BANKING (AMENDMENT)
Ord. No. 64/87
24. Section 92 of the principal Ordinance is amended— (a) in subsection (5)(u), by inserting after "advertisement" the follow-
ing-
"or invitation"; and
(b) by inserting after subsection (5) the following—
"(6) Where any advertisement or invitation, or any document containing any advertisement or invitation, relates to the taking of any deposit and the taking of any such deposit is not, by virtue of section 3(1) or (2), a taking to which Part III applies then, to the extent that such advertise- ment, invitation or document, as the case may be, relates to the taking of any such deposit, this section shall not apply to such advertisement, invitation or document, as the case may be.".
A481
Amendment of section 92.
25. Section 101(1) of the principal Ordinance is amended by deleting Amendment of "section 98(1) where" and substituting the following—
"section 98(1) were”.
section 101.
26. Section 120(1) of the principal Ordinance is amended by deleting Amendment of "who has been appointed under or who is or has been employed in carrying section 120. out or in assisting any person to carry out the provisions of this Ordinance" and substituting the following-
"to whom this subsection applies".
27. Section 129(1) of the principal Ordinance is amended by inserting Amendment of after "Ordinance" the following—
"or in any Ordinance repealed by this Ordinance".
section 129.
28. The principal Ordinance is amended by inserting after section 137 Addition of the following-
"Exclusion of provisions of Gambling Ordinance.
(Cap. 148.)
137A. (1) Subject to subsection (2), the Gambling Ordinance shall not apply to any transaction proposed to be entered into, or entered into, by an authorized institution.
(2) Subsection (1) shall not apply to a transaction, or a transaction belonging to a class of transactions, specified by the Commissioner by notice in the Gazette as being a transac- tion, or a class of transactions, as the case may be, to which that subsection shall not apply.".
new section 137A.
29. The principal Ordinance is amended by inserting after section 148 Addition of the following-
"Transitional provisions in relation to section 87.
148A. (1) Where, immediately before 1 September 1986, any period allowed under the proviso to section 27(1) of the former Banking Ordinance, or under section 23B(3) of the former Deposit-taking Companies Ordinance, had not expired then, on and from that date, the unexpired portion of that period shall be deemed to be a further period approved under, and for the purposes of, the proviso to section 87(1) as
new section 148A.
No comments yet.
Private notes are available after approval.