TNAG-1724-FCO40-2437-Minutes-and-Hansards-of-the-Legislative-Council-of-Hong-Kong-1988 — Page 148

COMPANIES (AMENDMENT) BILL 1988

COMMITTEE STAGE

Amendments to be moved by the Financial Secretary

Proposed amendment Clause 3

That clause 3 be amended.

le

Amendment Proposed

(a) By deleting "by inserting, after subsection (4), the

following" and substituting the following -

(b)

"(a) by inserting, after subsection (4), the

following -";

in the proposed subsection (4A), by inserting after

"authorized" in the second place where it occurs the

following

"financial";

(c) in the proposed subsection (4A) (b), by inserting after

"$10,000,000" the following ·

"or an amount equivalent to 10 per cent of the

paid up capital and reserves of the authorized

financial institution, whichever is the lower";

(d)

in the proposed subsection (4B)(b), by inserting after

"obtained" the following