1987 Ed.]
Banking
[CAP. 155
103
had been appointed under section 5(2) to be a member of the Deposit-taking Companies Advisory Committee for the period he had left to serve, immediately before that commencement, as a member of the former Deposit-taking Companies Advisory Committee and, for that purpose and for that period, the terms on which he was so appointed as a member of the former Deposit-taking Companies Advisory Committee shall be the terms on which he shall be a member of the Deposit-taking Companies Advisory Committee.
140. The former Commissioner shall, on and from the commencement of this Ordinance, be deemed to be the Commissioner as if, on that commencement, he had been appointed under section 6 to be the Commissioner of Banking, and the provisions of this Ordinance shall apply accordingly.
Former Commissioner to continue in office.
Authorized and persons to continue to be authorized and employed.
141. Any person who was, immediately before the commencement of this Ordinance, authorized or employed under section 4A of the former Banking Ordinance to assist the former Commissioner in the exercise of his functions and duties under the former Banking Ordinance, either generally or in any particular case, shall, on and from the commencement of this Ordinance, be deemed, in the like capacity, to be authorized or employed to assist the Commissioner in the exercise of his functions under this Ordinance as if, on that commencement, he had been, in the like capacity, authorized or employed under section 8 to assist the Commissioner in the exercise of his functions under this Ordinance for the period he had left, immediately before that commencement, to be so authorized or employed under the former Banking Ordinance.
142. Where, immediately before the commencement of this Ordinance, there was in existence-
(a) an application for a former banking licence under section 6 of the former Banking Ordinance in relation to which the Governor in Council had not granted or refused a former banking licence under section 7 of the former Banking Ordinance;
(b) an application for former registration under section 9 of the former Deposit-taking Companies Ordinance in relation to which there has not been any registration or refusal of registration by the Commissioner under section 10 of the former Deposit-taking Companies Ordinance; or
(c) an application for a former deposit-taking licence under section 16A of the former Deposit-taking Companies Ordinance in relation to which the Financial Secretary had not granted or refused a former deposit-taking licence under section 16B of the former Deposit-taking Companies Ordinance,
Former applications for licences, etc. deemed to be applications under this Ordinance.
1987 Ed.]
Banking
[CAP. 155
103
had been appointed under section 5(2) to be a member of the Deposit-taking Companies Advisory Committee for the period he had left to serve, immediately before that commencement, as a member of the former Deposit-taking Companies Advisory Com- mittee and, for that purpose and for that period, the terms on which he was so appointed as a member of the former Deposit-taking Companies Advisory Committee shall be the terms on which he shall be a member of the Deposit-taking Companies Advisory Com- mittee.
140. The former Commissioner shall, on and from the commen- cement of this Ordinance, be deemed to be the Commissioner as if, on that commencement, he had been appointed under section 6 to be the Commissioner of Banking, and the provisions of this Ordinance shall apply accordingly.
Former Commissioner to continue in office.
Authorized and
persons to continue to be
authorized and employed.
141. Any person who was, immediately before the commence- ment of this Ordinance, authorized or employed under section 4A of employed the former Banking Ordinance to assist the former Commissioner in the exercise of his functions and duties under the former Banking Ordinance, either generally or in any particular case, shall, on and from the commencement of this Ordinance, be deemed, in the like capacity, to be authorized or employed to assist the Commissioner in the exercise of his functions under this Ordinance as if, on that commencement, he had been, in the like capacity, authorized or employed under section 8 to assist the Commissioner in the exercise of his functions under this Ordinance for the period he had left, immediately before that commencement, to be so authorized or employed under the former Banking Ordinance.
142. Where, immediately before the commencement of this Ordinance, there was in existence-
(a) an application for a former banking licence under section 6 of the former Banking Ordinance in relation to which the Governor in Council had not granted or refused a former banking licence under section 7 of the former Banking Ordinance;
(b) an application for former registration under section 9 of the former Deposit-taking Companies Ordinance in rela- tion to which there has not been any registration or refusal of registration by the Commissioner under section 10 of the former Deposit-taking Companies Ordinance; or
(c) an application for a former deposit-taking licence under section 16A of the former Deposit-taking Companies Ordinance in relation to which the Financial Secretary had not granted or refused a former deposit-taking licence under section 16B of the former Deposit-taking Com- panies Ordinance,
Former applications for licences, etc. deemed to be applications under this Ordinance.
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