1987 Ed.]
Banking
[CAP. 155
81
(a) uses the word “bank” or any of its derivatives in English, or any translation thereof in any language or uses the Chinese expression "ngan hong" (注), or uses the letters “b”, “a”, “n”, “k” in that order, in the description or title under which such person is carrying on business in Hong Kong; or
(b) makes any representation in any bill head, letter paper, notice, advertisement or in any other manner whatsoever that such person is a bank or is carrying on banking business in Hong Kong,
commits an offence and is liable-
(i) on conviction upon indictment to a fine of $200,000 and to imprisonment for 12 months; or
(ii) on summary conviction to a fine of $50,000 and to imprisonment for 6 months.
(2) Nothing in this section shall apply to any association of banks formed for the protection or promotion of their mutual interests or to any association of employees of banks formed for the protection or promotion of the mutual interests of such employees.
PART XVII
CAPITAL ADEQUACY RATIO OF AUTHORIZED INSTITUTIONS
98. (1) Subject to this Part and Part X, an authorized institution incorporated in Hong Kong shall not, at any time, have a capital adequacy ratio of less than 5 per cent as calculated in accordance with the provisions of the Third Schedule and subsection (2).
(2) For the purposes of calculating the capital adequacy ratio of an authorized institution which has any subsidiary, the accounts of the institution are not required to be on a consolidated basis unless the Commissioner otherwise determines in any particular case.
(3) The Financial Secretary may, by notice in the Gazette, vary the percentage specified in subsection (1).
99. (1) Where an authorized institution contravenes section 98(1), it shall forthwith notify the Commissioner of that contravention and provide him with such particulars of that contravention as he may require.
(2) Where the Commissioner is notified under subsection (1) of a contravention of section 98(1), he shall forthwith notify the Financial Secretary of that contravention and provide him with such particulars of that contravention as he may require.
Capital adequacy ratio.
Third Schedule.
Failure to keep to capital adequacy ratio.
1987 Ed.]
Banking
[CAP. 155
81
(a) uses the word “bank” or any of its derivatives in English, or any translation thereof in any language or uses the Chinese expression "ngan hong" (f), or uses the letters “b”, “a”, “n”, “k” in that order, in the description or title under which such person is carrying on business in Hong Kong; or
(b) makes any representation in any bill head, letter paper, notice, advertisement or in any other manner whatsoever that such person is a bank or is carrying on banking business in Hong Kong,
commits an offence and is liable-
(i) on conviction upon indictment to a fine of $200,000 and to
imprisonment for 12 months; or
(ii) on summary conviction to a fine of $50,000 and to impri-
sonment for 6 months.
(2) Nothing in this section shall apply to any association of banks formed for the protection or promotion of their mutual interests or to any association of employees of banks formed for the protection or promotion of the mutual interests of such employees.
درمی)
PART XVII
CAPITAL ADEQUACY RATIO OF AUTHORIZED INSTITUTIONS
98. (1) Subject to this Part and Part X, an authorized institu- tion incorporated in Hong Kong shall not, at any time, have a capital adequacy ratio of less than 5 per cent as calculated in accordance with the provisions of the Third Schedule and sub- section (2). A
(2) For the purposes of calculating the capital adequacy ratio of an authorized institution which has any subsidiary, the accounts of the institution are not required to be on a consolidated basis unless the Commissioner otherwise determines in any particular
caser
(3) The Financial Secretary may, by notice in the Gazette, vary the percentage specified in subsection (1).
99. (1) Where an authorized institution contravenes section 98(1), it shall forthwith notify the Commissioner of that contraven- tion and provide him with such particulars of that contravention as he may require.
(2) Where the Commissioner is notified under subsection (1) of a contravention of section 98(1), he shall forthwith notify the Financial Secretary of that contravention and provide him with such particulars of that contravention as he may require.
Capital adequacy ratio.
Third Schedule.
Failure to keep to capital adequacy ratio.
!
1
No comments yet.
Private notes are available after approval.