Hong Kong Ordinances

BANKING ORDINANCE - SECT 91

Proof of compliance with section 80, 81, 83, 85, 86, 87, 88 or 90

(Past version on 30/06/1997).

(1) Any authorized institution, if at any time called upon in writing by the
Monetary Authority so to do, shall satisfy him by the production of such
evidence or information as he may require, that the institution is not in
contravention of any of the provisions of section  80 , 81, 83, 85, 86, 87, 88
or 90 applicable to that institution. (Replaced 95 of 1991 s. 35. Amended 82
of 1992 s. 25)

(2) Any authorized institution, if at any time called upon in writing by the
Monetary Authority so to do, shall satisfy him by the production of such
evidence or information as he may require, whether or not the institution is
engaging in any business practices specified in a notice under section 82.
(Amended 82 of 1992 s. 25)

(3) Every director, every chief executive and every manager of an
authorized institution which fails or refuses without reasonable excuse to
comply with subsection (1) or (2) commits an offence and is liable- (Amended
32 of 2001 s. 24)

   (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)