Banking Ordinance (Deposit-taking Exemptions) (Consolidation) Notice
[1 September 1986]
(Format changes—E.R. 2 of 2021)
This Notice may be cited as the Banking Ordinance (Deposit-taking Exemptions) (Consolidation) Notice.
The following persons are exempt from section 12 of the Ordinance, namely—
each person specified in the First Schedule subject to the conditions, if any, specified in that Schedule in relation to that person; (L.N. 209 of 1986)
the company known as “South Australian Finance (HK) Limited” (referred to in the Second Schedule as the company) subject to the conditions specified in the Second Schedule; (L.N. 66 of 1987)
the company known as “Jardine Matheson & Company Limited” subject to the conditions specified in the Third Schedule. (L.N. 125 of 1987)
The Bishop of Victoria, Hong Kong, the sole trustee of the fund entitled the “Duppuy Fund”, and all persons concerned with the administration of this fund. (E.R. 2 of 2021)
Arabian Gulf Investments (Far East) Limited subject to the following conditions—
that in carrying on any business of taking deposits of money in Hong Kong or elsewhere, Arabian Gulf Investments (Far East) Limited shall not—
issue, or have in its possession for the purposes of issue, any advertisement which to its knowledge is or contains an invitation to members of the public—
to deposit money; or
to enter into, or offer to enter into, any agreement to deposit money;
issue, or have in its possession for the purposes of issue, any document which to its knowledge contains such an advertisement; or
in any other manner issue or make an invitation to members of the public to do any of the acts referred to in sub-subparagraph (a), (E.R. 2 of 2021)
where such issue, possession or making is not in contravention of section 92 of the Ordinance, except as the Financial Secretary may approve in writing from time to time;
that The Hongkong and Shanghai Banking Corporation or its nominee is and shall at all times continue to be a beneficial owner of not less than 20% of the issued shares of Arabian Gulf Investments (Far East) Limited; and (28 of 2012 ss. 912 & 920)
that The Hongkong and Shanghai Banking Corporation shall, by prior written notice to the Financial Secretary, advise of any proposal or action which may result in condition (2) not continuing to be fulfilled.
The beneficial owner of the company (whether directly or indirectly) shall be—
the Crown in right of the State of South Australia; or
a minister or statutory authority of that State.
In carrying on any business of taking deposits in Hong Kong or elsewhere, the company shall not—
issue, or have in its possession for the purposes of issue, any advertisement which to its knowledge is or contains an invitation to members of the public—
to make any deposit; or
to enter into, or offer to enter into, any agreement to make any deposit;
issue, or have in its possession for the purposes of issue, any document which to its knowledge contains such an advertisement; or
in any other manner issue or make an invitation to members of the public to do any of the acts referred to in subparagraph (a),
where such issue, possession or making is not in contravention of section 92 of the Ordinance, except as the Financial Secretary may approve in writing from time to time.
In carrying on any business of taking deposits in Hong Kong or elsewhere, no deposit shall be taken by the company from any Hong Kong resident except such a resident which is a company—
owned by or under the control of;
the assets of which are charged in favour of; or
the obligations of which in respect of borrowed moneys are owed to, or guaranteed by,
the South Australian Government Financing Authority or the Treasurer of the State of South Australia.
In carrying on any business of taking deposits in Hong Kong, the company shall not take any deposit which is less than US$10,000,000, or an equivalent amount in any other foreign currency.
The company shall not take any deposit in Hong Kong unless it is denominated and repayable in a currency other than the Hong Kong dollar.
The obligations of the company to repay the principal of, and to pay interest on, any deposit taken by it in Hong Kong shall be guaranteed by—
the South Australian Government Financing Authority;
the Treasurer of that State; or
a statutory authority of that State the liabilities of which are guaranteed by that Treasurer.
In carrying on any business of taking deposits Jardine Matheson & Company Limited shall not take any deposit except from—
a company, included in a list of companies submitted to and approved by the Monetary Authority or which may be included in such list from time to time subject to the approval of the Monetary Authority; or
any employee of any company included in such list.
Jardine Matheson & Company Limited shall furnish to the Monetary Authority at any time he may require, any particulars, relating to any company included in such list, as he may require to be furnished to him, verified in such manner as he may require.