Hong Kong Ordinances

BANKING ORDINANCE - SECT 9

Reports by Monetary Authority

(Past version on 30/06/1997).

Adaptation amendments retroactively made - see 68 of 1999 s. 3

(1) The Monetary authority shall, as soon as practicable after each 31
December, prepare and furnish to the Financial Secretary a report on the
working of this Ordinance and on the activities of his office during the
preceding year and, in that report, may set out any measures that he considers
necessary for improving the working of this Ordinance and of the activities of
his office. (Amended 94 of 1993 s. 6)

(2) In the report under subsection (1), the Monetary Authority shall draw
attention to any breach or avoidance of this Ordinance that has come to his
notice during the preceding year or any irregularity discovered by him in the
accounts and records of the financial transactions of any
authorized institution for that period which is, in his opinion, of sufficient
importance to justify him so doing.

(3) The Monetary Authority shall, at such times as he considers necessary,
report to the Financial Secretary on improvements that he considers to be
desirable in the operation and management of his office.

(4) The Chief Executive may, at any time, request the Monetary  Authority to
report to him on any matter relating to the working of this Ordinance or the
activities of the office of the Monetary Authority, and the Monetary Authority
shall, forthwith, prepare and furnish a report to the Chief Executive
accordingly. (Amended 68 of 1999 s. 3)

(5) Where the Financial Secretary is furnished with a report under subsection
(1), he may, as he thinks fit, publish the report, in whole or in part, in
such manner as he thinks fit or decline to publish any part of the report.
(Replaced 94 of 1993 s. 6)

(6) (Repealed 94 of 1993 s. 6) (Amended 82 of 1992 s. 25)