1987 Ed.]
Banking
[CAP. 155
93
commits an offence and is liable on conviction upon indictment or on summary conviction to a fine of $20,000 and to imprisonment for 6 months.
(6) In this section-
(a) "inspector" means a person appointed under section 117(2);
(b) any reference to a director, manager, employee or agent of a company includes a reference to a person who has been but no longer is a director, manager, employee or agent of that company;
(c) "agent" in relation to a company whose business is under investigation includes its bankers and solicitors and any persons, whether officers of the body or not, who are employed as its auditors.
PART XXI
MISCELLANEOUS
Governor in Council to decide whether or not
119. (1) In the event of any dispute as to whether a person is carrying on a banking business or a business of taking deposits, the matter, except in the case of a prosecution for any offence against this Ordinance, shall be submitted to the Governor in Council for his determination; and the decision of the Governor in Council shall be final and conclusive for all purposes of this Ordinance.
(2) A submission under subsection (1) may be made by the Financial Secretary or by any bank or deposit-taking company or person which or who is interested in the determination of the matter.
120. (1) Except as may be necessary for the exercise of any function under this Ordinance or for carrying into effect the provisions of this Ordinance, every person to whom this subsection applies (Amended, 64 of 1987, s. 26)
(a) shall preserve and aid in preserving secrecy with regard to all matters relating to the affairs of any company that may come to his knowledge in the exercise of any function under this Ordinance:
(b) shall not communicate any such matter to any person other than the person to whom such matter relates; and
(c) shall not suffer or permit any person to have access to any records in the possession, custody or control of any person to whom this subsection applies.
(2) Subsection (1) shall apply to-
(a) any public officer;
or business of taking deposits is being conducted.
Official secrecy.
3/90546.
1987 Ed.]
Banking
[CAP. 155
93
commits an offence and is liable on conviction upon indictment or on summary conviction to a fine of $20,000 and to imprisonment for 6 months.
(6) In this section-
(a) "inspector" means a person appointed under section
117(2);
(b) any reference to a director, manager, employee or agent of a company includes a reference to a person who has been but no longer is a director, manager, employee or agent of that company;
(c) "agent" in relation to a company whose business is under investigation includes its bankers and solicitors and any persons, whether officers of the body or not, who are employed as its auditors.
PART XXI
MISCELLANEOUS
Governor in Council to decide whether or not
119. (1) In the event of any dispute as to whether a person is carrying on a banking business or a business of taking deposits, the matter, except in the case of a prosecution for any offence against banking business this Ordinance, shall be submitted to the Governor in Council for his determination; and the decision of the Governor in Council shall be final and conclusive for all purposes of this Ordinance.
(2) A submission under subsection (1) may be made by the Financial Secretary or by any bank or deposit-taking company or person which or who is interested in the determination of the matter.
120. (1) Except as may be necessary for the exercise of any function under this Ordinance or for carrying into effect the provi- sions of this Ordinance, every person to whom this subsection applies (Amended, 64 of 1987, s. 26)
person
(a) shall preserve and aid in preserving secrecy with regard to all matters relating to the affairs of any company that may come to his knowledge in the exercise of any function under this Ordinance:
(b) shall not communicate any such matter to any person
other than the person to whom such matter relates; and
(c) shall not suffer or permit any person to have access to any records in the possession, custody or control of any person to whom this subsection applies.
(2) Subsection (1) shall apply to-
(a) any public officer;
a
Λ
or business of taking deposits is being conducted.
Official secrecy.
3/90546.
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