Banking Ordinance
Table of Contents
Long Title
Enacting Formula
Part I PRELIMINARY
1 Short title and commencement
2 Interpretation
Part II LICENSING OF BANKS
3 Banking business to be transacted only by a licensed bank
4 Licences not to be granted or valid in certain cases
5 Restriction on use of title "bank" and on use of certain words in a bank’s name
6 Revocation of licence
Part III DUTIES OF LICENSED BANKS
7 Minister to be advised of alteration in a bank’s constitution
8 Maintenance of reserve fund
9 Exhibition of audited balance-sheet
10 Restrictions on payment of dividends, advances, and loans to the staff
11 Action to be taken if unsecured advances are against interests of depositors
12 Statistics to be furnished
13 Bank unable to meet obligations to inform the Minister
14 Amalgamation, etc. requires consent of the Minister
15 Appointment of Auditors
Part IV POWERS OF THE MINISTER
16 Clearing Houses and settlement of balances between banks
17 Inspector of Banks
18 Special investigation of banks
19 Examination of affairs of bank on application by shareholders or depositors
20 Production of bank’s books, accounts and documents
21 Action by the Minister if bank unable to meet obligations or conducting business to the detriment of depositors
22 Control of licensed bank by Minister
23 Licensed bank under control of Inspector to co-operate with Inspector
24 No investigation of individual customer’s affairs
Part V GENERAL
25 Indemnity
26 Individuals not eligible to take part in management of a licensed bank
27 Penalty for offences not otherwise provided for
28 Offences by companies, etc. and by servants and agents
29 Fiat of State Advocate-General
30 Jurisdiction
31 Regulations
32 Amendment and special provision relating to the Companies Ordinance
33 Exemption
Part VI TRANSITIONAL
34 Transitional licensing provisions
Explanatory Statement
Expenditure of Public Money
Table of Derivations