Hong Kong Ordinances

BANKING ORDINANCE - SECT 20

Register of authorized institutions, etc.

(Past version on 24/05/2002).
(Past version on 01/07/1997).
(Past version on 30/06/1997).

(1) The Monetary Authority shall maintain a register, in such form as he
thinks fit, which shall contain-

   (a)  the name and the address of the principal place of business in Hong
        Kong of every bank;

   (b)  the name of every bank which has a local representative office and the
        address of the place of business in Hong Kong of every local 
        representative office;

   (c)  the name and the address of the principal place of business in Hong
        Kong of every deposit-taking company;

   (d)  the name and the address of the principal place of business in Hong
        Kong of every restricted licence bank;

   (e)  in the case of a bank (including a bank referred to in paragraph (b)),
        deposit-taking company or restricted licence bank,
        incorporated outside Hong Kong, the address of its principal place of
        business outside Hong Kong; (Amended 6 of 2002 s. 4)

   (ea) in the case of a registered institution, and not later than 12 months
        after the commencement of this paragraph-

        (i)    the name and business address of every relevant individual;

        (ii)   the capacity in which every relevant individual is engaged in
               relation to a regulated function in a regulated activity;

        (iii)  the date on which every relevant individual was first so
               engaged; and

        (iv)   such other particulars as the Monetary Authority thinks fit
               having regard to rules made under section 397 of the
               Securities and  Futures Ordinance ( Cap 571) for the purposes
               of section 136(2) of that Ordinance; and (Added 6 of 2002 s. 4)

   (f)  such other particulars of banks, local representative offices,
        deposit-taking companies or restricted licence banks as the Monetary 
        Authority thinks fit (including particulars of any order of the Court
        of First Instance under section 53E(1)). (Amended 25 of 1998 s. 2)

(2) The register shall be kept at the office of the Monetary  Authority or at
such other place as may be notified by the Monetary  Authority in the Gazette.

(3) The Monetary Authority may require an authorized institution

(including an authorized institution seeking to be a registered  institution)
or local representative office to submit such information for the purposes of
subsection (1) as he may reasonably require in order to maintain the register
in so far as it relates to that authorized  institution or
local representative office, as the case may be, and such information shall be
submitted within such period and in such manner as the Monetary Authority may
require. (Replaced 6 of 2002 s. 4)

(4) Where any information submitted to the Monetary Authority under subsection
(3) changes subsequent to the submission, the authorized  institution or
local representative office which submitted the information shall give notice
in writing to the Monetary Authority of such change-

   (a)  subject to paragraph (b), not later than 21 days after such change
        takes place;

   (b)  where subsection (1)(ea) is applicable, within 7 business days after
        such change takes place. (Replaced 6 of 2002 s. 4)

(4A) For the purposes of enabling any member of the public to ascertain
whether a person he is dealing with is a relevant individual in relation to a
registered institution and, if so, the capacity in which the
relevant individual is engaged in relation to a regulated function in a
regulated activity and the date on which the relevant individual was first so
engaged, the information contained in the register under subsection

(1)(ea) shall be made available to public inspection under subsection

(5). (Added 6 of 2002 s. 4)

(4B) Without prejudice to the generality of any other provisions of this
section, the Monetary Authority shall cause the register, to the extent to
which it relates to subsection (1)(ea), to be made available to public
inspection in the form of an on-line record. (Added 6 of 2002 s. 4)

(5) Subject to subsection (5A), any member of the public may, with effect from
such date and during such hours as shall be notified by the Monetary Authority
in the Gazette, on payment of the fee specified in the Second Schedule-
(Amended 6 of 2002 s. 4)

   (a)  inspect the register or obtain a copy of an entry in the register or
        an extract from the register; or

   (b)  inspect or obtain a copy of or an extract from any document lodged
        with the Monetary Authority under section 15(2)(a).

(5A) The fee mentioned in subsection (5) shall not be payable in the case of
an inspection, or the obtaining of a copy or an extract, mentioned in that
subsection where the register or document concerned is available to public
inspection in the form of an on-line record. (Added 6 of 2002 s. 4)

(6) A document purporting to be-

   (a)  a copy of any entry in or extract from the register, or of any
        document lodged with the Monetary Authority by a company under this
        Ordinance; and

   (b)  signed and certified by the Monetary Authority as a true copy of the
        entry, extract or document referred to in paragraph (a), shall be
        admitted in evidence in criminal or civil proceedings before any court
        on its production without further proof, and-

        (i)    in the absence of evidence to the contrary, the court shall
               presume that- (A) the signature and certification is that of
               the Monetary  Authority; and (B) the document is a true and
               correct copy of the entry, extract or document referred to in
               paragraph (a); and

        (ii)   such document shall be prima facie evidence of all matters
               contained therein.

(7) Every director, every chief executive and every manager of an
authorized institution, and any person in charge, or who appears to be in
charge, of a local representative office, which fails, without reasonable
excuse, to comply with a requirement under subsection (3), or to comply with
subsection (4), commits an offence and is liable- (Amended 32 of 2001 s. 24; 6
of 2002 s. 4)

   (a)  on conviction upon indictment to a fine at tier 7 and to imprisonment
        for 2 years and, in the case of a continuing offence, to a further
        fine at tier 3 for every day during which the offence continues; or

   (b)  on summary conviction to a fine at tier 5 and to imprisonment for 6
        months and, in the case of a continuing offence, to a further fine at
        tier 2 for every day during which the offence continues. (Amended 4 of
        1997 s. 27)

(8) If any authorized institution or local representative office submits any
information under subsection (3) or (4) which is false in a material
particular, every director, every chief executive and every manager of the
authorized institution, or any person in charge, or who appears to be in
charge, of the local representative office, as the case may be, commits an
offence and is liable- (Amended 32 of 2001 s. 24; 6 of 2002 s. 4)

   (a)  on conviction upon indictment to a fine at tier 8 and to imprisonment
        for 2 years; or

   (b)  on summary conviction to a fine at tier 5 and to imprisonment for 6
        months. (Amended 4 of 1997 s. 27)

(9) It is hereby declared that-

   (a)  the fact that an authorized institution falls within section  25 (a)
        or 32 of Schedule 10 to the Securities and Futures Ordinance ( Cap 
        571) is not a ground for the institution to fail to comply with a
        requirement under subsection (3) seeking the submission of information
        for the purposes of subsection (1)(ea), and subsections (4), (7) and
        (8) shall be construed accordingly;

   (b)  the fact that a relevant individual falls within section 26(a) or 33
        of Schedule 10 to the Securities and Futures Ordinance ( Cap 571)
        shall not prohibit the inclusion in the register of any information
        referred to in subsection (1)(ea) relating to the individual. (Added 6
        of 2002 s. 4)

(10) In this section-

"business day" (營業日) means any day other than-

   (a)  a public holiday; or

   (b)  a gale warning day or a black rainstorm warning day as defined in
        section 71(2) of the Interpretation and General Clauses Ordinance (
        Cap  1);

"regulated function" (受規管職能), in relation to a regulated activity
carried on as a business by a registered institution, means any function
performed for or on behalf of or by an arrangement with the institution
relating to the regulated activity, other than work ordinarily performed by an
accountant, clerk or cashier;

"relevant individual" (有關人士), in relation to a registered institution,
means an individual who performs for or on behalf of or by an arrangement with
the institution any regulated function in a regulated activity. (Added 6 of
2002 s. 4) (Part IV replaced 49 of 1995 s. 6)

"business day" (營業日)

"regulated function" (受規管職能)

"relevant individual" (有關人士)