1964_BANKING_ORDINANCE — Page 9

8

00

CAP. 155]

Banking

[1987 Ed.

(Cap. 32.)

43/9052.

"authorized institution" means-

(a) a bank; er-

> (b) a deposit-taking company;

"authorized institution incorporated in Hong Kong" means an authorized institution incorporated in Hong Kong by or under the Companies Ordinance or any other Ordinance and any reference to a bank incorporated in Hong Kong or a deposit- taking company incorporated in Hong Kong shall be construed accordingly;

"authorized institution incorporated outside Hong Kong" means an authorized institution incorporated by or under the law or other authority in any place outside Hong Kong, and in this respect "incorporated" includes established and any reference to a bank incorporated outside Hong Kong or a deposit-taking- company incorporated outside Hong Kong shall be construed accordingly;

"automated teller machine" means a terminal device, whether installed by a bank or by some other person, which is linked directly or indirectly to a computer system used by a bank and which provides facilities to customers of the bank;

"bank" means a company which holds a valid banking licence, and

includes an unincorporated bank;

"Banking Advisory Committee" means the Banking Advisory Com-

mittee established by section 4;

"banking business" means the business of either or both of the

following--

(a) receiving from the general public money on current, deposit, savings or other similar account repayable on demand or within less than 3 months or at call or notice of less than 3 months;

(b) paying or collecting cheques drawn by or paid in by

customers;

"banking licence" means a banking licence granted under section 16

of 107:

"capital adequacy ratio" means the capital adequacy ratio referred

to in section 98;

"certificate of deposit" means a document relating to money, in any currency, which has been deposited with the issuer or some other person, being a document which recognizes an obligation to pay a stated amount to bearer or to order, with or without interest, and being a document by the delivery of which, with or without endorsement, the right to receive that stated amount, with or without interest, is transferable;

"chief executive", in relation to an authorized institution, means the chief executive appointed under section 74 in respect of the institution;