1964_BANKING_ORDINANCE — Page 87

HK Historical Laws 香港歷史法例 All AI Reviewed

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CAP. 155]

43/9058

Grant of banking

licence to

unincorporated banks.

Application for banking licence under section 107.

Banking licence fee for

unincorporated

bank.

Second Schedule.

Auditor.

Banking

(1987 Ed.

(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.

(5) For the purposes of subsections (1) and (2)

"assets" includes assets outside Hong Kong;

"charge" includes lien, encumbrance, equitable interest and third

party right;

"value" shall have the same meaning assigned to it in section 79(1).

PART XIX

UNINCORPORATED BANKS

107. (1) The Governor in Council may, for the purposes of and in accordance with section 115(2), grant a banking licence to carry on banking business in Hong Kong to any unincorporated person or body of persons.

(2) A banking licence may be granted under subsection (1), notwithstanding that the unincorporated person or body of persons does not comply and does not propose to comply with the provisions of section 18, 75, 77, Part XVI or XVIII.

108. (1) An application for a banking licence under section 107 shall be made to the Governor in Council through the Commissioner.

(2) An application for a banking licence under section 107 shall be accompanied by such documents and information as the Commissioner or the Governor in Council may require.

109. (1) An unincorporated bank shall pay the annual banking licence fee specified in the Second Schedule.

(2) The fees payable under this section shall be paid upon the grant of a banking licence and thereafter upon every anniversary of the date of the grant of such banking licence.

110. (1) Every unincorporated bank shall appoint annually an auditor.

(2) The duties of the auditor so appointed shall be-

(a) to carry out for the year in respect of which he is appointed

an audit of the accounts of the bank;

(b) to make a report to the directors of the bank on the audited accounts, the balance sheet and the profit and loss account of the bank; and

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86 CAP. 155] 43/9058 Grant of banking licence to unincorporated banks. Application for banking licence under section 107. Banking licence fee for unincorporated bank. Second Schedule. Auditor. Banking (1987 Ed. (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. (5) For the purposes of subsections (1) and (2) "assets" includes assets outside Hong Kong; "charge" includes lien, encumbrance, equitable interest and third party right; "value" shall have the same meaning assigned to it in section 79(1). PART XIX UNINCORPORATED BANKS 107. (1) The Governor in Council may, for the purposes of and in accordance with section 115(2), grant a banking licence to carry on banking business in Hong Kong to any unincorporated person or body of persons. (2) A banking licence may be granted under subsection (1), notwithstanding that the unincorporated person or body of persons does not comply and does not propose to comply with the provisions of section 18, 75, 77, Part XVI or XVIII. 108. (1) An application for a banking licence under section 107 shall be made to the Governor in Council through the Commissioner. (2) An application for a banking licence under section 107 shall be accompanied by such documents and information as the Commissioner or the Governor in Council may require. 109. (1) An unincorporated bank shall pay the annual banking licence fee specified in the Second Schedule. (2) The fees payable under this section shall be paid upon the grant of a banking licence and thereafter upon every anniversary of the date of the grant of such banking licence. 110. (1) Every unincorporated bank shall appoint annually an auditor. (2) The duties of the auditor so appointed shall be- (a) to carry out for the year in respect of which he is appointed an audit of the accounts of the bank; (b) to make a report to the directors of the bank on the audited accounts, the balance sheet and the profit and loss account of the bank; and

Baseline (Original)

86 CAP. 155] 43/9058 Grant of banking licence to unincorporated banks. Application for banking licence under section 107. Banking licence fee for unincorporated bank. Second Schedule. Auditor. Banking (1987 Ed. (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. (5) For the purposes of subsections (1) and (2) "assets" includes assets outside Hong Kong; "charge" includes lien, encumbrance, equitable interest and third party right; “value” shall have the same meaning assigned to it in section 79(1). PART XIX UNINCORPORATED BANKS 107. (1) The Governor in Council may, for the purposes of and in accordance with section 115(2), grant a banking licence to carry on banking business in Hong Kong to any unincorporated person or body of persons. (2) A banking licence may be granted under subsection (1), notwithstanding that the unincorporated person or body of persons does not comply and does not propose to comply with the provi- sions of section 18, 75, 77, Part XVIĮ or XVIII. 108. (1) An application for a banking licence under section 107 shall be made to the Governor in Council through the Com- missioner. (2) An application for a banking licence under section 107 shall be accompanied by such documents and information as the Commissioner or the Governor in Council may require. 109. (1) An unincorporated bank shall pay the annual banking licence fee specified in the Second Schedule. (2) The fees payable under this section shall be paid upon the grant of a banking licence and thereafter upon every anniversary of the date of the grant of such banking licence. 110. (1) Every unincorporated bank shall appoint annually an auditor. (2) The duties of the auditor so appointed shall be- (a) to carry out for the year in respect of which he is appointed an audit of the accounts of the bank; (b) to make a report to the directors of the bank on the audited accounts, the balance sheet and the profit and loss account of the bank; and

2026-05-04 06:46:36 · Baseline

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