1987 Ed.]
Banking
[CAP. 155
77
(b) 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 $5,000 for every day during which the offence continues.
PART XVI
ADVERTISEMENTS, REPRESENTATIONS AND USE OF TITLE “BANK”
92. (1) Subject to subsection (5), no person shall-
(a) issue, or have in his possession for the purposes of issue, any advertisement which to his knowledge is or contains an invitation to members of the public-
(i) to make any deposit; or
(ii) to enter into, or offer to enter into, any agreement to make any deposit;
(b) issue, or have in his possession for the purposes of issue, any document which to his knowledge contains such an advertisement; or
(c) in any other manner issue or make an invitation to members of the public to do any of the acts referred to in paragraph (a).
(2) Any person who contravenes subsection (1) commits an offence and is liable on conviction upon indictment or on summary conviction to a fine of $10,000.
(3) For the purposes of any proceedings under this section, an advertisement or document in which a person named in the advertisement or document holds himself out as being prepared to take in Hong Kong any deposit shall, subject to subsection (4), be presumed, unless such named person proves to the contrary, to have been issued by him.
(4) A person shall not be taken to contravene this section by reason only that he issues, or has in his possession for the purposes of issue, to purchasers copies of any newspaper, magazine, journal or other periodical publication of general and regular circulation, which contain an advertisement to which this section applies.
(5) This section shall not apply to-
(a) any advertisement or invitation to make a deposit or to enter into, or offer to enter into, any agreement to make a deposit with an authorized institution; or (Amended, 64 of 1987, s. 24)
(b) any advertisement or invitation, or any document containing any advertisement or invitation, to which section 4(1) of the Protection of Investors Ordinance would, but for section 4(2)(g) of that Ordinance, apply.
Offence to issue advertisements and documents relating to deposits.
(Cap. 335.)
1987 Ed.]
Banking
[CAP. 155
77
(b) on summary conviction to a fine of $50,000 and to impri- sonment for 6 months and, in the case of a continuing offence, to a further fine of $5,000 for every day during which the offence continues.
PART XVI
ADVERTISEMENTS, REPRESENTATIONS AND USE OF TITLE “BANK”
92. (1) Subject to subsection (5), no person shall-
(a) issue, or have in his possession for the purposes of issue, any advertisement which to his knowledge is or contains an invitation to members of the public-
(i) to make any deposit; or
(ii) to enter into, or offer to enter into, any agreement to make any deposit;
(b) issue, or have in his possession for the purposes of issue, any document which to his knowledge contains such an advertisement; or
(c) in any other manner issue or make an invitation to members of the public to do any of the acts referred to in paragraph (a).
(2) Any person who contravenes subsection (1) commits an offence and is liable on conviction upon indictment or on summary conviction to a fine of $10,000.
(3) For the purposes of any proceedings under this section, an advertisement or document in which a person named in the adver- tisement or document holds himself out as being prepared to take in Hong Kong any deposit shall, subject to subsection (4), be pre- sumed, unless such named person proves to the contrary, to have been issued by him.
(4) A person shall not be taken to contravene this section by reason only that he issues, or has in his possession for the purposes of issue, to purchasers copies of any newspaper, magazine, journal or other periodical publication of general and regular circulation, which contain an advertisement to which this section applies.
(5) This section shall not apply to-
(a) any advertisement or invitation to make a deposit or to enter into, or offer to enter into, any agreement to make a deposit with an authorized institution; or (Amended, 64 of 1987, s. 24)
(b) any advertisement or invitation, or any document con- taining any advertisement or invitation, to which section 4(1) of the Protection of Investors Ordinance would, but for section 4(2)(g) of that Ordinance, apply.
Offence to issue advertisements and documents relating to deposits.
(Cap. 335.)
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