TNAG-1771-FCO40-25241-Business-and-financial-legislation-in-Hong-Kong.-Part-1-of-2-1988 — Page 307

BANKING (AMENDMENT) (NO. 2) BILL 1988

A BILL

Amend the Banking Ordinance.

To

Enclosure No.4

1

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) (No. 2) Short title Ordinance 1988.

2. (1) Section 120(1) of the Banking Ordinance is amended by Official secrecy repealing "be necessary for the exercise of any function under this Ordin- (Cap. 155) ance or for carrying into effect" and substituting "enable or assist the exercise of any function under this Ordinance or the carrying into effect of".

(2) Section 120(5) is amended—

(a) by repealing "or" at the end of paragraph (ƒ);

(b) by adding "or" at the end of paragraph (g); and

(c) by adding after paragraph (g)—

"(h) to the disclosure of information by the Commissioner to a person holding an authorized statutory office where the Commissioner is of the opinion that such disclosure would enable or assist that person to exercise the func- tions of that office.".

(3) Section 120 is amended by adding after subsection (5)-