N.
2
CAP. 356]
or restricted licence
bank 3/90555
Offences.
Monetary Statistics
[1981 Ed.
(3) Neither the Secretary nor any other person shall suffer or permit any unauthorized person to have access to any return or information submitted by any bank or deposit-taking company under this Ordinance.
(4) Except in respect of a prosecution under this Ordinance, no return or information submitted by any bank or deposit-taking company under this Ordinance shall be disclosed or used in any proceedings, and neither the Financial Secretary nor the Secretary nor any person who has been authorized to have access to any such return or information shall be compellable in any proceedings to produce or give evidence regarding any such return or information.
(5) Nothing in subsection (2) shall apply to the disclosure of information-
(a) by the Secretary to the Financial Secretary;
(b) in the form of a summary of similar information provided by a number of banks or deposit-taking companies if the summary is so framed as to prevent particulars relating to the business of any particular bank or deposit-taking company being ascertained from it; or
(c) to any court or magistrate for the purpose of proceedings instituted for an offence under this Ordinance.
5. (1) Any person who contravenes section 4 commits an offence and is liable on conviction to a fine of $50,000 and to imprisonment for 2 years.
(2) Any person who-
(a) refuses or fails to submit any return or information which he is required to submit under this Ordinance; or
(b) wilfully or negligently makes any false return, or gives any false information, or misleads or attempts to mislead the Secretary,
commits an offence and is liable on conviction to a fine of $50,000 and in the case of a continuing offence, to a further fine of $2,000 for every day during which the offence continues.
Δ
N.
2
CAP. 356]
or restricted licence
bank 3/90555
Offences.
Monetary Statistics
[1981 Ed.
(3) Neither the Secretary nor any other person shall suffer or permit any unauthorized person to have access to any return or information submitted by any bank or deposit-taking company under this Ordinance.
(4) Except in respect of a prosecution under this Ordinance, no return or information submitted by any bank or deposit-taking company under this Ordinance shall be disclosed or used in any proceedings, and neither the Financial Secretary nor the Secretary nor any person who has been authorized to have access to any such return or information shall be compellable in any proceedings to produce or give evidence regarding any such return or information.
(5) Nothing in subsection (2) shall apply to the disclosure of information-
(a) by the Secretary to the Financial Secretary;
(b) in the form of a summary of similar information provided by a number of banks or deposit-taking companies if the summary is so framed as to prevent particulars relating to the business of any particular bank or deposit-taking company being ascertained from it; or
A
(c) to any court or magistrate for the purpose of proceedings
instituted for an offence under this Ordinance.
5. (1) Any person who contravenes section 4 commits an offence and is liable on conviction to a fine of $50,000 and to imprisonment for 2 years.
(2) Any person who-
(a) refuses or fails to submit any return or information which
he is required to submit under this Ordinance; or
(b) wilfully or negligently makes any false return, or gives any false information, or misleads or attempts to mislead the Secretary,
commits an offence and is liable on conviction to a fine of $50,000 and in the case of a continuing offence, to a further fine of $2,000 for every day during which the offence continues.
No comments yet.
Private notes are available after approval.