1964_BANKING_ORDINANCE — Page 27

26

Publication of names entered in or removed from register and suspensions.

3/90314

Revocation of banking licence.

CAP. 155]

Banking

[1987 Ed.

28. (1) Where the name of a bank, local representative office, registered deposit taking company or licensed deposit-taking com- pany is entered in the register, the Commissioner shall publish in the Gazette notice of such entry.

(2) Where a company eases to be a registered deposit-taking company by virtue of section 25(2), the Commissioner shall-

(a) remove from the register the name of the former registered

deposit-taking company; and

(b) publish in the Gazette notice of such removal.

(3) Where the licence or registration of an authorized institu- tion is revoked under this Ordinance, the Commissioner shall---

(a) remove from the register the name of the former author-

ized institution concerned; and

(b) publish in the Gazette notice of such removal,

(4) Where the registration of a registered deposit-taking com- pany or the deposit-taking licence of a licensed deposit-taking company is suspended under this Ordinance, the Commissioner shall-

(a) make a notation in the register against the name of the deposit-taking company concerned that its registration or deposit-taking licence, as the case may be, has been so suspended and, if such suspension is for a specified period, shall, in that notation, give particulars of such period; and (b) publish in the Gazette notice of such notation.

(5) Where approval for the establishment of a local represen- tative office is revoked under this Ordinance, the Commissioner shall--

(a) remove from the register the name of the local representa-

tive office; and

(b) publish in the Gazette notice of such removal.

(6) On the date of commencement of this Ordinance, the Commissioner shall publish in the Gazette-

(a) the name of every bank, local representative office, regis- tered deposit-taking company and licensed deposit-taking company entered in the register; and

(b) every notation in the register referred to in subsection (4).

PART V

REVOCATION OF LICENCE OR REGISTRATION OF

AUTHORIZED INSTITUTION

29. The Governor in Council may revoke a banking licence-