Legislative
Council may amend
MONEY LENDERS (AMENDMENT)
Ord. No. 69/88
A421
(b) unless sooner revoked under paragraph (a), shall remain in force for a period of 3 years, or such lesser period as may be specified by the Registrar after consultation with the Financial Secretary, com- mencing on the date on which the exemption is so granted or, if the exemption specifies a later date, that later date, and that exemption may be renewed from time to time by further applications made under subsection (1).
33C. The Legislative Council may by resolution amend Schedule 1.".
Schedule 1
1.
32. Section 35(2) and (3) is repealed.
33. The First Schedule is repealed and the following substituted-
"SCHEDULE 1
[ss. 2, 24, 25, 33 & 33C]
PART 1
EXEMPTED PERSONS
Repeal and saving
First Schedule substituted
Any subsidiary of an authorized institution within the meaning of the Banking (Cap. 155) Ordinance.
2.
A co-operative society registered under the Co-operative Societies Ordinance.
(Cap. 33)
3.
4.
A credit union registered under the Credit Unions Ordinance and the Credit Union League of Hong Kong incorporated under Part XI of that Ordinance. A trade union registered under the Trade Unions Ordinance.
(Cap. 119)
5.
An insurer, within the meaning of the Insurance Companies Ordinance, au- thorized under that Ordinance to carry on a class, or classes, of insurance business specified in Part 2 of the First Schedule to that Ordinance.
(Cap. 332)
(Cap. 41)
6.
The Hong Kong Building and Loan Agency Limited.
7.
The University and Polytechnic Grants Committee.
8.
A bank which is―
(a) incorporated or established outside Hong Kong;
(b) recognized as a bank by a banking supervisory authority—
(i) of the country, territory, state or province of its incorporation or establishment; and
(ii) declared in writing, by the Commissioner of Banking within the meaning of the Banking Ordinance, to be a banking supervisory authority (Cap. 155) in respect of which he is of the opinion that it exercises adequate prudential supervision for the purposes of this paragraph; and
(c) carrying on in that country, territory, state or province the business of
banking.
9.
An organization-—
(a)
which is a member of the International Union of Credit and Investment Insurers ("The Berne Union"); or
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