1964_BANKING_ORDINANCE — Page 13

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CAP. 155]

Banking

[1987 Ed.

3/9052

(Cap. 361.)

43/4052

Application.

(Cap. 29.)

(Cap. 119.)

restricted licence bank.

(b) a licensed deposit-taking company, means the sum referred

to in section 14(1)(b);

"Unified Exchange" has the same meaning as in the Stock

Exchanges Unification Ordinance;

"unincorporated bank” means an unincorporated person or body of persons holding a valid banking licence granted under section 107.

(2) For the purposes of this Ordinance-

(a) the taking of deposits includes holding out as being pre-

pared to take deposits;

(b) an advertisement issued by any person by way of display or exhibition in a public place shall be treated as being issued by him on every day on which he causes or authorizes it to be displayed or exhibited;

(c) an advertisement or document which consists of or con- tains information likely to lead, directly or indirectly, members of the public to-

(i) make deposits; or

(ii) enter into, or offer to enter into, agreements to make deposits,

shall be treated as being an advertisement or document which is or contains an advertisement to members of the public so to do; and

(d) an advertisement or document issued by one person on behalf of or to the order of another shall be treated as an advertisement or document, as the case may be, issued by that other person.

(3) Without limiting the generality of any other meaning which "insolvent" may have, an authorized institution shall, for the purposes of this Ordinance, be deemed to be insolvent if it has ceased to pay its debts in the ordinary course of business or it cannot pay its debts as they become due.

(4) Where, under this Ordinance, an authorized institution is required to provide facilities to any person for the purpose of any investigation or examination of the institution, such facilities shall include photocopying facilities.

3. (1) Part III of this Ordinance shall not apply to the taking of any deposit by-

(a) a trust company registered under Part VIII of the Trustee

Ordinance;

(b) a credit union registered under the Credit Unions Ordin-

ance;