1987 Ed.]
Banking
[CAP. 155
(e) to the disclosure of information by the Commissioner to the Registrar, the Council or the Disciplinary Committee under the Professional Accountants Ordinance in respect of any complaint that can be made under section 34 of that Ordinance in respect of any auditor of an authorized institution, including an auditor appointed under section 59(2) or approved under section 63(3)(b);
(f) to the disclosure of information to the Financial Secretary, the Secretary for Monetary Affairs or to any public officer authorized by the Financial Secretary for the purposes of this paragraph or to the Disciplinary Committee referred to in paragraph (e) where, in the opinion of the Commissioner, it is desirable or expedient that information should be disclosed in the interests of depositors or the public interest; or
(g) to the disclosure of information concerning an authorized institution, to its auditor or former auditor, during a meeting called under section 61.
(6) Any person who-
(a) contravenes subsection (1); or
(b) aids, abets, counsels or procures any person to contravene subsection (1),
commits an offence and is liable--
(i) on conviction upon indictment to a fine of $100,000 and to imprisonment for 2 years; or
(ii) on summary conviction to a fine of $50,000 and to imprisonment for 6 months.
121. (1) Subject to subsection (3) and notwithstanding section 120, the Commissioner may, if he considers that it is in the interests of the depositors of the authorized institution, provide to the appropriate recognized banking supervisory authority of a place outside Hong Kong which is, in his opinion, subject to adequate secrecy provisions in that place information on matters relating to the affairs of an authorized institution-
(a) which is incorporated, or which has its principal place of business, in that place;
(b) which is incorporated in or outside Hong Kong and is a subsidiary or associate of a bank incorporated in that place; or
(c) which is incorporated in Hong Kong and which has, or is proposing to establish, in that place an overseas branch, overseas representative office, subsidiary or associate of that authorized institution, and where, in the case of a subsidiary or associate, such subsidiary or associate is or would be subject to supervision by that recognized banking supervisory authority.
(Cap. 50.)
Disclosure of information relating to authorized
95
1987 Ed.]
Banking
[CAP. 155
(e) to the disclosure of information by the Commissioner to the Registrar, the Council or the Disciplinary Committee under the Professional Accountants Ordinance in respect of any complaint that can be made under section 34 of that Ordinance in respect of any auditor of an authorized institution, including an auditor appointed under section 59(2) or approved under section 63(3)(b);
(f) to the disclosure of information to the Financial Secretary, the Secretary for Monetary Affairs or to any public officer authorized by the Financial Secretary for the purposes of this paragraph or to the Disciplinary Committee referred to in paragraph (e) where, in the opinion of the Commis- sioner, it is desirable or expedient that information should be disclosed in the interests of depositors or the public interest; or
(g) to the disclosure of information concerning an authorized institution, to its auditor or former auditor, during a meeting called under section 61.
(6) Any person who-
(a) contravenes subsection (1); or
(b) aids, abets, counsels or procures any person to contravene
subsection (1),
› commits an offence and is liable--
500.000
(i) on conviction upon indictment to a fine of $100,000 and to
imprisonment for 2 years; or
(ii) on summary conviction to a fine of $50,000 and to impri-
sonment for 6 months.
121. (1) Subject to subsection (3) and notwithstanding section 120, the Commissioner may, if he considers that it is in the interests of the depositors of the authorized institution, provide to the appropriate recognized banking supervisory authority of a place outside Hong Kong which is, in his opinion, subject to adequate secrecy provisions in that place information on matters relating to the affairs of an authorized institution-
(a) which is incorporated, or which has its principal place of
business, in that place;
(b) which is incorporated in or outside Hong Kong and is a subsidiary or associate of a bank incorporated in that place; or
(c) which is incorporated in Hong Kong and which has, or is proposing to establish, in that place an overseas branch, overseas representative office, subsidiary or associate of that authorized institution, and where, in the case of a subsidiary or associate, such subsidiary or associate is or would be subject to supervision by that recognized bank- ing supervisory authority.
(Cap. 50.)
Disclosure of information relating to authorized
95
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