48
CAP. 155]
Banking
[1987 Ed.
Meetings.
43/9056
Commissioner may make complaint where there is misconduct, etc. by auditor. (Cap. 50.)
Returns and information to be submitted to the Commissioner.
accounts sent by that institution under subsection (2); and such information shall be submitted within such period and in such manner as the Commissioner may require.
(5) The annual balance sheet of an authorized institution, copies of which are required by subsection (1) to be exhibited, shall be in such form as the Commissioner may approve.
(6) Every director and every manager of an authorized institution which contravenes subsection (1), (2), (3) or (5) commits an offence and is liable-
(a) on conviction upon indictment to a fine of $200,000; or
(b) on summary conviction to a fine of $50,000,
and, in the case of a continuing offence, to a further fine of $5,000 for every day during which the offence continues.
(7) Every director and every manager of an authorized institution which fails without reasonable excuse to comply with any requirement under subsection (4) commits an offence and is liable on conviction upon indictment or on summary conviction to a fine of $50,000 and to imprisonment for 6 months and, in the case of a continuing offence, to a further fine of $2,500 for every day during which the offence continues.
61. (1) The directors of an authorized institution, any auditor of the institution, including an auditor appointed under section 59(2), or any other auditor who has acted for the institution for any period not earlier than 9 months before the date of the notice, or the Commissioner, may, by notice in writing to the other parties mentioned herein, request a meeting to discuss matters relating to the institution.
(2) Any meeting to be held in pursuance of a notice under subsection (1) may proceed notwithstanding the non-attendance of not more than one of the parties served with that notice.
62. Notwithstanding any other provision of this Ordinance or the Professional Accountants Ordinance, the Commissioner may, where he is of the opinion that there are grounds for a complaint under section 34 of that Ordinance in respect of any auditor of an authorized institution, including an auditor appointed under section 59(2) or approved under section 63(3)(b), make such complaint to the Registrar under that Ordinance.
PART XII
DISCLOSURE OF INFORMATION BY AUTHORIZED INSTITUTIONS
63. (1) Every authorized institution shall submit to the Commissioner-
48
CAP. 155]
Banking
[1987 Ed.
Meetings.
43/9056
Commissioner may make
complaint where there is
misconduct, etc. by auditor. (Cap. 50.)
Returns and information to be submitted to the
Commissioner.
accounts sent by that institution under subsection (2); and such information shall be submitted within such period and in such manner as the Commissioner may require.
(5) The annual balance sheet of an authorized institution, copies of which are required by subsection (1) to be exhibited, shall be in such form as the Commissioner may approve.
(6) Every director and every manager of an authorized institu- tion which contravenes subsection (1), (2), (3) or (5) commits an offence and is liable-
(a) on conviction upon indictment to a fine of $200,000; or
(b) on summary conviction to a fine of $50,000,
and, in the case of a continuing offence, to a further fine of $5,000 for every day during which the offence continues.
(7) Every director and every manager of an authorized institu- tion which fails without reasonable excuse to comply with any requirement under subsection (4) commits an offence and is liable on conviction upon indictment or on summary conviction to a fine of $50,000 and to imprisonment for 6 months and, in the case of a continuing offence, to a further fine of $2,500 for every day during which the offence continues.
61. (1) The directors of an authorized institution, any auditor of the institution, including an auditor appointed under section 59(2), or any other auditor who has acted for the institution for any period not earlier than 9 months before the date of the notice, or the Commissioner, may, by notice in writing to the other parties mentioned herein, request a meeting to discuss matters relating to the institution.
(2) Any meeting to be held in pursuance of a notice under subsection (1) may proceed notwithstanding the non-attendance of not more than one of the parties served with that notice.
62. Notwithstanding any other provision of this Ordinance or the Professional Accountants Ordinance, the Commissioner may, where he is of the opinion that there are grounds for a complaint under section 34 of that Ordinance in respect of any auditor of an authorized institution, including an auditor appointed under section 59(2) or approved under section 63(3)(b), make such complaint to the Registrar under that Ordinance.
PART XII
DISCLOSURE OF INFORMATION BY AUTHORIZED INSTITUTIONS
63. (1) Every authorized institution shall submit to the Com- missioner-
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