1987 Ed.]
Banking
restricted licence bank
[CAP. 155
29
(c) the objects of the company as stated in its memorandum of
association or constitution no longer include the object of
carrying on a business of taking deposits;
(d) it appears to him that
restricted licence bank.
(i) the company is not a fit and proper body to remain licensed;
restricted licence bank
(ii) the company has not provided him, whether before or after being licensed, with such information relating to it, and to any circumstances likely to affect its method of business, as is required by or under this Ordinance;
(iii) the chief executive of the company, with intent to defeat or delay its creditors, has departed out of Hong Kong, or being out of Hong Kong has remained out of Hong Kong, or has departed from his dwelling-place or usual place of business, or otherwise has failed or refused to attend any meeting of the governing board, by whatever name called, of the institution or any meeting otherwise required by or under this Ordinance; or
(iv) the business of the company is being carried on in a manner detrimental to the interests of its depositors;
restricted licence bank
(e) the company has contravened section 14(1) or (3);
(f) the company has failed to pay the deposit-taking licence fee or renewal of deposit-taking licence fee in accordance with section 26;
restricted licence bank
(g) the company has failed to comply with section 60 or Part XVII or XVIII;
restricted Licence bank
(h) the company makes a report to the Commissioner under section 67 that it is likely to become unable to meet its obligations or is about to suspend payment or it appears to the Financial Secretary that the company is so unable or has suspended payment;
restricted licence bank
(i) he is of the opinion that, having regard to a report under section 117 in respect of the company, it is proper for him to do so.
restricted licence bank.
(2) Without limiting the generality of subsection (1), the Financial Secretary may revoke the deposit-taking licence of a licensed deposit-taking company on being requested in writing by the company to do so, if he is satisfied that the interests of depositors of that company are adequately safeguarded.
(3) Any company aggrieved by the revocation by the Financial Secretary of its deposit-taking licence under subsection (1) may appeal to the Governor in Council against the revocation, but that revocation shall take effect immediately, notwithstanding that an appeal has been or may be made under this subsection.
r
1987 Ed.]
Banking
restricted licence bank
[CAP. 155
29
(c) the objects of the company as stated in its memorandum of
イ
association or constitution no longer include the object of
carrying on a business of taking deposits;
(d) it appears to him that
restricted licence bank.
(i) the company, is not a fit and proper body to remain licensed;
restricted licence bank
(ii) the company has not provided him, whether before or after being licensed, with such information relating to it, and to any circumstances likely to affect its method of business, as is required by or under this Ordinance;
(iii) the chief executive of the company, with intent to defeat or delay its creditors, has departed out of Hong Kong, or being out of Hong Kong has remained out of Hong Kong, or has departed from his dwelling-place or usual place of business, or otherwise has failed or refused to attend any meeting of the governing board, by whatever name called, of the institution or any meeting otherwise required by or under this Ordinance; or
(iv) the business of the company is being carried on in a manner detrimental to the interests of its depositors;
restricted licence bank
(e) the company has contravened section 14(1) or (3);
(f) the company has failed to pay the deposit-taking licence fee or renewal of deposit-taking licence fee in accordance with section 26--
restricted, licence bank
(g) the company has failed to comply with section 60 or Part
XVII or XVIII;
restrited Lian Q
hank
(h) the company makes a report to the Commissioner under section 67 that it is likely to become unable to meet its obligations or is about to suspend payment or it appears to the Financial Secretary that the company, is so unable or has suspended payment;
restricted lience bank
(i) he is of the opinion that, having regard to a report under section 117 in respect of the company, it is proper for him to do so.
restricted licence bank.
(2)- Without limiting the generality of subsection (1), the Financial Secretary-may revoke the deposit-taking licence of a licensed deposit-taking company on being requested in writing by the company to do so, if he is satisfied that the interests of depositors of that company are adequately safeguarded.
(3) Any company aggrieved by the revocation by the Financial Secretary of its deposit-taking-licence under subsection (1) may appeal to the Governor in Council against the revocation, but that revocation shall take effect immediately, notwithstanding that an appeal has been or may be made under this subsection.
1i
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