Chapter Number and Title of Enactment

Chapter:

155Title:Banking Ordinance

Download CAP 155 Banking Ordinance [format: PDF].

: If this pencil mark appears at the beginning of a provision, that provision is subject to amendments that are already in operation but have not yet been incorporated in its text.

Table of contents of enactment:
Cap 155 Long title
Cap 155 Part IPreliminary
Cap 155 s 1Short title
Cap 155 s 2Interpretation
Cap 155 s 3Application
Cap 155 Part IIAppointments, Functions of Monetary Authority, Reports by Monetary Authority and Power of Chief Executive to Give Directions#
Cap 155 s 4Banking Advisory Committee
Cap 155 s 5Deposit-taking Companies Advisory Committee
Cap 155 s 6(Repealed 82 of 1992 s. 14)
Cap 155 s 7Functions of the Monetary Authority
Cap 155 s 8(Repealed 82 of 1992 s. 16)
Cap 155 s 9Reports by Monetary Authority
Cap 155 s 10Power of Chief Executive to give directions
Cap 155 Part IIIBANKING BUSINESS AND BUSINESS OF TAKING DEPOSITS TO BE CARRIED ON BY AUTHORIZED INSTITUTIONS ONLY
Cap 155 s 11Banking business restricted to licensed banks
Cap 155 s 12Restriction on business of taking deposits
Cap 155 s 13Power to grant exemptions
Cap 155 s 14Deposit-taking company not to take deposits less than specified sum
Cap 155 s 14AOnly authorized institutions may issue, etc. multi-purpose cards
Cap 155 Part IVAUTHORIZATION
Cap 155 s 15Application for authorization, etc.
Cap 155 s 16Grant or refusal of authorization, etc.
Cap 155 s 17Application for authorization in the case of proposed company
Cap 155 s 18Variation of authorization
Cap 155 s 19Fees payable by authorized institutions
Cap 155 s 20Register of authorized institutions, etc.
Cap 155 s 21Publication of names entered in or removed from register and suspensions
Cap 155 Part VREVOCATION OF AUTHORIZATION
Cap 155 s 22Revocation of authorization
Cap 155 s 23Procedure on and effect of revocation of authorization
Cap 155 Part VISUSPENSION OF AUTHORIZATION
Cap 155 s 24Temporary suspensions
Cap 155 s 25Suspensions
Cap 155 s 26Opportunity of being heard
Cap 155 s 27Effect of suspension
Cap 155 Part VIITRANSFER OF AUTHORIZATION
Cap 155 s 28Transfer of authorization
Cap 155 s 29Application for transfer
Cap 155 s 30Certificate of transfer, etc.
Cap 155 s 31Liabilities and privileges of transferer and transferee
Cap 155 s 32(Repealed 49 of 1995 s. 6)
Cap 155 s 33(Repealed 49 of 1995 s. 6)
Cap 155 s 34(Repealed 49 of 1995 s. 6)
Cap 155 s 35(Repealed 49 of 1995 s. 6)
Cap 155 s 36(Repealed 49 of 1995 s. 6)
Cap 155 s 37(Repealed 49 of 1995 s. 6)
Cap 155 s 38(Repealed 49 of 1995 s. 6)
Cap 155 s 39(Repealed 49 of 1995 s. 6)
Cap 155 s 40(Repealed 49 of 1995 s. 6)
Cap 155 s 41(Repealed 49 of 1995 s. 6)
Cap 155 s 42(Repealed 49 of 1995 s. 6)
Cap 155 s 43(Repealed 49 of 1995 s. 6)
Cap 155 Part VIIILOCAL BRANCHES, LOCAL OFFICES, LOCAL REPRESENTATIVE OFFICES AND FEES*
Cap 155 s 44Control of establishment, etc. of local branches
Cap 155 s 45Fees in respect of local branches
Cap 155 s 45ANotification of commencement of business at local offices
Cap 155 s 46Control of establishment, etc. of local representative offices
Cap 155 s 47Supply of information and examination of local representative offices
Cap 155 s 48Fees in respect of local representative offices
Cap 155 Part IXOVERSEAS BRANCHES, OVERSEAS REPRESENTATIVE OFFICES, FEES AND OVERSEAS BANKING CORPORATIONS*
Cap 155 s 49Control of establishment, etc. of overseas branches and overseas representative offices
Cap 155 s 50Conditions regarding overseas branches and overseas representative offices
Cap 155 s 51Fees in respect of overseas branches and overseas representative offices
Cap 155 s 51AControl of establishment, etc. of overseas banking corporations
Cap 155 Part XPOWERS OF CONTROL OVER AUTHORIZED INSTITUTIONS
Cap 155 s 52Powers of Monetary Authority
Cap 155 s 53Powers of Chief Executive in Council
Cap 155 s 53ANotification of direction under section 52(1)(B) or (C), etc.
Cap 155 s 53BEffect of direction under section 52(1)(C)
Cap 155 s 53CPowers of Manager
Cap 155 s 53DCourt of First Instance may approve certain resolutions
Cap 155 s 53ECourt of First Instance may make certain orders
Cap 155 s 53FDuration of direction under section 52(1)(B) or (C)
Cap 155 s 53GAdvisors, Managers and assistants
Cap 155 s 53HObstruction, etc. of Manager
Cap 155 s 54(Repealed 49 of 1995 s. 16)
Cap 155 s 55Examination and investigation of authorized institutions, etc.
Cap 155 s 56Production of authorized institution's, etc., books, etc.
Cap 155 s 57(Repealed 49 of 1995 s. 16)
Cap 155 s 58(Repealed 49 of 1995 s. 16)
Cap 155 s 58ADisciplinary action in respect of relevant individuals
Cap 155 Part XIAudits and Meetings
Cap 155 s 59Audit
Cap 155 s 59ANotification in respect of auditors
Cap 155 s 59BNotification by authorized institution of end of financial year, etc.
Cap 155 s 60Publication of audited balance sheet, etc.
Cap 155 s 60ADisclosure to the general public of information relating to financial affairs
Cap 155 s 61Communication by auditor with Monetary Authority
Cap 155 s 62(Repealed 43 of 1990 s. 6)
Cap 155 Part XIIDisclosure of Information by Authorized Institutions
Cap 155 s 63Returns and information to be submitted to the Monetary Authority
Cap 155 s 63AAuditor to report to Monetary Authority any matter which adversely affects financial position of authorized institution to material extent
Cap 155 s 63BAuditors of registered institutions to submit report to Monetary Authority in certain cases
Cap 155 s 64Information on shareholding, etc.
Cap 155 s 65Alteration in constitution
Cap 155 s 66Authorized institution to notify Monetary Authority when it ceases to take deposits
Cap 155 s 67Duty to report inability to meet obligations
Cap 155 s 68Examination by authorities outside Hong Kong
Cap 155 Part XIIIOWNERSHIP AND MANAGEMENT OF AUTHORIZED INSTITUTIONS
Cap 155 s 69Amalgamation, etc. requires approval
Cap 155 s 70Provisions applicable to persons proposing to become controllers, and to certain existing controllers, of authorized institutions incorporated in Hong Kong
Cap 155 s 70AObjection to existing controllers
Cap 155 s 70BRestrictions on and sale of shares
Cap 155 s 70CProhibition on certain persons acting as indirect controllers
Cap 155 s 70DPunishment for attempted evasion of restrictions
Cap 155 s 71Chief executives and directors require Monetary Authority's consent
Cap 155 s 71CExecutive officers of registered institutions require Monetary Authority's consent
Cap 155 s 71DAppointment of executive officers
Cap 155 s 71EGrant of provisional consent in relation to persons seeking Monetary Authority's consent under section 71C(1) to be executive officers
Cap 155 s 71FTransitional provisions in relation to sections 71C and 71D in the case of certain registered institutions
Cap 155 s 72(Repealed 95 of 1991 s. 20)
Cap 155 s 72AMonetary Authority may require specified persons to submit information
Cap 155 s 72BNotification of appointment of manager, etc.
Cap 155 s 73Certain persons prohibited from acting as employees of authorized institutions except with consent of Monetary Authority
Cap 155 s 74Appointment of chief executive
Cap 155 Part XIV(Repealed 95 of 1991 s. 23)
Cap 155 s 75(Repealed 95 of 1991 s. 23)
Cap 155 s 76(Repealed 95 of 1991 s. 23)
Cap 155 s 77(Repealed 95 of 1991 s. 23)
Cap 155 s 78(Repealed 95 of 1991 s. 23)
Cap 155 Part XVLimitations on Loans by and Interests of Authorized Institutions
Cap 155 s 79Interpretation and application
Cap 155 s 79AMonetary Authority may require provisions of this Part to apply to certain authorized institutions on a consolidated basis
Cap 155 s 80Advance against security of own shares, etc.
Cap 155 s 81Limitations on advances by authorized institutions
Cap 155 s 82Monetary Authority may publish guidelines on business practices of authorized institutions
Cap 155 s 83Limitations on advances to directors, etc. of bank
Cap 155 s 84(Repealed 95 of 1991 s. 29)
Cap 155 s 85Limitation on advances to employees
Cap 155 s 86Powers of Monetary Authority where moneys placed with foreign bank
Cap 155 s 87Limitation on shareholding by authorized institutions
Cap 155 s 87AAcquisition by authorized institutions incorporated in Hong Kong of share capital in companies
Cap 155 s 88Limitation on holding of interest in land by authorized institutions
Cap 155 s 89(Repealed 95 of 1991 s. 33)
Cap 155 s 90Limitation on aggregate holdings under sections 83, 87 and 88
Cap 155 s 91Proof of compliance with section 80, 81, 83, 85, 86, 87, 88 or 90
Cap 155 Part XVIADVERTISEMENTS, REPRESENTATIONS AND USE OF TITLE "BANK"
Cap 155 s 92Offence to issue advertisements, etc. relating to deposits
Cap 155 s 93Fraudulent inducement to make a deposit
Cap 155 s 94Liability in tort for inducing persons to make a deposit in certain cases
Cap 155 s 95False, etc. advertisements by authorized institution
Cap 155 s 96Certain representations prohibited
Cap 155 s 97Restrictions on use of name "bank"
Cap 155 s 97AFalse statements as to authorized status
Cap 155 Part XVIACapital Requirements
Cap 155 s 97BPurpose
Cap 155 s 97CCapital requirements
Cap 155 s 97DPrescribed notification requirement
Cap 155 s 97ERemedial action
Cap 155 s 97FMonetary Authority may vary capital requirement rules for particular authorized institutions
Cap 155 Part XVIBLiquidity Requirements
Cap 155 s 97GPurpose
Cap 155 s 97HLiquidity requirements
Cap 155 s 97IPrescribed notification requirement
Cap 155 s 97JRemedial action
Cap 155 s 97KMonetary Authority may vary liquidity requirement rules for particular authorized institutions
Cap 155 Part XVICCodes of Practice for Rules Made under Section 60A(1), 97C(1) or *97H(1)
Cap 155 s 97LInterpretation of Part XVIC
Cap 155 s 97MCodes of practice
Cap 155 s 97NUse of approved codes of practice in proceedings before Review Tribunal
Cap 155 Part XVII(Repealed 3 of 2012 s. 9)
Cap 155 s 98(Repealed 3 of 2012 s. 9)
Cap 155 s 98A(Repealed 3 of 2012 s. 9)
Cap 155 s 99(Repealed 3 of 2012 s. 9)
Cap 155 s 100(Repealed 3 of 2012 s. 9)
Cap 155 s 101(Repealed 3 of 2012 s. 9)
Cap 155 Part XVIIABanking Review Tribunal#
Cap 155 s 101AEstablishment of Banking Review Tribunal*
Cap 155 s 101BApplication to Review Tribunal
Cap 155 s 101CDetermination of review by Review Tribunal
Cap 155 s 101DRegistration of determination made by Review Tribunal
Cap 155 s 101EPowers of Review Tribunal
Cap 155 s 101FSittings of Review Tribunal to be held in private
Cap 155 s 101GUse of incriminating evidence given under compulsion
Cap 155 s 101HAppeal to Court of Appeal
Cap 155 s 101IPower of Chief Justice to make rules
Cap 155 Part XVIIILiquidity Ratio of Authorized Institutions and Matters Affecting Liquidity Ratio
Cap 155 s 102Liquidity ratio
Cap 155 s 103Failure to keep to liquidity ratio
Cap 155 s 104Remedial action
Cap 155 s 105Monetary Authority may vary liquidity ratio for particular authorized institutions
Cap 155 s 106Authorized institutions not to create certain charges and to notify Monetary Authority of certain civil proceedings
Cap 155 Part XIX(Repealed 43 of 1990 s. 8)
Cap 155 s 107(Repealed 43 of 1990 s. 8)
Cap 155 s 108(Repealed 43 of 1990 s. 8)
Cap 155 s 109(Repealed 43 of 1990 s. 8)
Cap 155 s 110(Repealed 43 of 1990 s. 8)
Cap 155 s 111(Repealed 43 of 1990 s. 8)
Cap 155 s 112(Repealed 43 of 1990 s. 8)
Cap 155 s 113(Repealed 43 of 1990 s. 8)
Cap 155 s 114(Repealed 43 of 1990 s. 8)
Cap 155 s 115(Repealed 43 of 1990 s. 8)
Cap 155 s 116(Repealed 43 of 1990 s. 8)
Cap 155 Part XXINVESTIGATIONS OF AUTHORIZED INSTITUTIONS
Cap 155 s 117Investigations on behalf of Financial Secretary
Cap 155 s 118Powers of the inspector and offences in connection with the investigation
Cap 155 Part XXAMONEY BROKERS
Cap 155 s 118AOnly approved money brokers may act as money brokers
Cap 155 s 118BApplication for approval
Cap 155 s 118CDetermination of application for approval
Cap 155 s 118DRevocation of approval
Cap 155 s 118EProcedure on and effect of revocation of approval
Cap 155 s 118FFees payable by approved money brokers
Cap 155 Part XXIMiscellaneous
Cap 155 s 119Chief Executive in Council to decide whether or not banking business or business of taking deposits is being conducted
Cap 155 s 120Official secrecy
Cap 155 s 121Disclosure of information relating to authorized institutions
Cap 155 s 122Winding-up of authorized institutions
Cap 155 s 123Offences by directors, chief executives, managers, trustees, employees and agents
Cap 155 s 124Prohibition on receipt of commission by staff
Cap 155 s 125Search warrants and seizures
Cap 155 s 126Defence where director or manager, etc. prosecuted
Cap 155 s 126ALimit of time for complaint or information
Cap 155 s 127Indemnity
Cap 155 s 128(Repealed 95 of 1991 s. 44)
Cap 155 s 129Validity of contract in contravention of this Ordinance or any Ordinance repealed by this Ordinance
Cap 155 s 130(Repealed 49 of 1995 s. 41)
Cap 155 s 131Recovery of fees, expenses, etc.
Cap 155 s 131ACost related fees to be paid into Exchange Fund
Cap 155 s 132Use of language
Cap 155 s 132AAppeals
Cap 155 s 132BLevel of fines for offences under this Ordinance
Cap 155 s 133Power of Monetary Authority to specify forms
Cap 155 s 134Service of notices
Cap 155 s 134AMonetary Authority to consult, etc., before attaching conditions to authorization
Cap 155 s 134BMonetary Authority to consult, etc., before attaching conditions to certificate of approval
Cap 155 s 135Power to amend Schedules
Cap 155 s 136Consent of Secretary for Justice
Cap 155 s 137(Amendments Incorporated)
Cap 155 s 137AExclusion of provisions of Gambling Ordinance (Cap 148)
Cap 155 s 137BPrescribed instruments
Cap 155 Part XXIITRANSITIONAL, SAVINGS AND REPEAL
Cap 155 s 138Interpretation
Cap 155 s 139Appointed members of former committees to continue in office
Cap 155 s 140(Repealed 82 of 1992 s. 23)
Cap 155 s 141Authorized and employed persons to continue to be authorized and employed
Cap 155 s 142Former applications for licences, etc. deemed to be applications under this Ordinance
Cap 155 s 143Former licences, etc. deemed to be licences, etc. under this Ordinance
Cap 155 s 144Date of payment of certain fees
Cap 155 s 145Conditions attached to former licences, etc. deemed to be conditions under this Ordinance
Cap 155 s 146Suspension of former registration, etc. deemed to be suspension under this Ordinance
Cap 155 s 147Actions, etc. under Part IV of former Banking Ordinance deemed to be actions under Part X of this Ordinance
Cap 155 s 148Transitional provision in relation to certain letters of comfort
Cap 155 s 148ATransitional provisions in relation to section 87
Cap 155 s 149Transitional provisions in relation to amendments made by Banking (Amendment) Ordinance 1990
Cap 155 s 150Transitional provisions in relation to amendments made by Banking (Amendment) (No. 2) Ordinance 1991
Cap 155 s 151Savings in relation to Exchange Fund (Amendment) Ordinance 1992
Cap 155 s 152Transitional provisions in relation to Banking (Amendment) Ordinance 1995
Cap 155 s 153Transitional provisions in relation to Banking (Amendment) Ordinance 1997
Cap 155 Sched 1SPECIFIED PERIOD AND SPECIFIED SUMS
Cap 155 Sched 2FEES
Cap 155 Sched 3(Repealed 19 of 2005 s. 7)
Cap 155 Sched 4LIQUIDITY RATIO
Cap 155 Sched 5REQUIREMENTS APPLICABLE TO PRESCRIBED ADVERTISEMENTS
Cap 155 Sched 6SPECIFIED INSTRUMENTS
Cap 155 Sched 7Minimum Criteria for Authorization
Cap 155 Sched 8GROUNDS FOR REVOCATION OF AUTHORIZATION
Cap 155 Sched 9POWERS OF MANAGER OF AUTHORIZED INSTITUTION
Cap 155 Sched 10(Repealed 42 of 1999 s. 18)
Cap 155 Sched 11MINIMUM CRITERIA FOR APPROVAL AS MONEY BROKER
Cap 155 Sched 12GROUNDS FOR REVOCATION OF APPROVAL OF MONEY BROKER
Cap 155 Sched 13LEVEL OF FINES FOR OFFENCES
Cap 155 Sched 14Affairs or Business of Authorized Institutions Specified for Purposes of Definition of Manager
Cap 155 Sched 15Provisions Relating to Banking Review Tribunal*




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