MONETARY STATISTICS ORDINANCE

MONETARY STATISTICS ORDINANCE

LAWS OF HONG KONG

MONETARY STATISTICS ORDINANCE

CHAPTER 356





CHAPTER 356

MONETARY STATISTICS

To provide for the collection of statistical information from banks and
deposit-taking companies.

[8 December 1980.]

1. This Ordinance may be cited as the Monetary Statistics
Ordinance.

2. In this Ordinance, unless the context otherwise requires -

'bank' means a bank licensed under the Banking Ordinance;

'deposit-taking company' has the meaning assigned to it in section
2(1) of the Deposit-taking Companies Ordinance; (Replaced,
28 of 1981, s. 33)

'Secretary' means the Secretary for Monetary Affairs.

3. (1) Every bank and every deposit-taking company shall, within
14 days after the last day of each calendar month, submit to the
Secretary in a form specified by him a return setting out such statistical
information relating to the assets and liabilities of its offices and
branches as he may require for the purpose of measuring developments
in the monetary sector. (Amended, L.N. 259/80)

(2) In addition to any return required by subsection (1) the
Secretary may, by notice in writing, call upon any bank or deposittaking
companyAto submit to him, within a time and in a form specified in the
notice, such other return or such further or fuller return of statistical
information as he may require for the purpose of measuring
developments in the monetary sector.

(3) The Secretary may require any return or information submitted
to him pursuant to a requirement under this section to be accompanied
by a certificate of the auditors of the bank or deposittaking company o
whether or not, in the opinion of the auditors,
the return or information is correctly compiled from the books and
records of the bank or deposit-taking company.

4. (1) The Secretary and every person who is or has been
authorized by him to have access to returns and i information
submitted by banks and deposit-taking companies under this Ordinance
shall preserve and aid in preserving secrecy with regard to all such returns
and information.

(2) Neither the Secretary nor any other person shall disclose to any
unauthorized person any return or information submitted by any bank
or deposit-taking company under this Ordinance.





(3) Neither the Secretary nor any other person shall suffer or permit
any unauthorized person to have access to any return or information
submitted by any bank or deposit-taking company under this Ordinance.

(4) Except in respect of a prosecution under this Ordinance, no
return or information submitted by any bank or deposit-taking company
under this Ordinance shall be disclosed or used in any
proceedings, and neither the Financial Secretary nor the Secretary nor
any person who has been authorized to have access to any such return
or information shall be compellable in any proceedings to produce or
give evidence regarding any such return or information.

(5) Nothing in subsection (2) shall apply to the disclosure of
information-

(a) by the Secretary to the Financial Secretary;

(b) in the form of a summary of similar information provided by a
number of banks or deposit-taking companiehif the summary
is so framed as to prevent particulars relating to the business
of any particular bank or deposit-taking company
being ascertained from it; or

(c)to any court or magistrate for the purpose of proceedings
instituted for an offence under this Ordinance.

5. (1) Any person who contravenes section 4 commits an offence
and is liable on conviction to a fine of $50,000 and to imprisonment for 2
years.

(2) Any person who-

(a) refuses or fails to submit any return or information which he is
required to submit under this Ordinance; or

(b) wilfully or negligently makes any false return, or gives any
false information, or misleads or attempts to mislead the
Secretary,

commits an offence and is liable on conviction to a fine of $50,000 and
in the case of a continuing offence, to a further fine of $2,000 for every
day during which the offence continues.
Originally 35 of 1980. L.N. 259/80. 28 of 1981. L.N. 346/80. Short title. Interpretation. (Cap. 155.) (Cap. 328.) Returns. Secrecy. Offences.

Originally 35 of 1980. L.N. 259/80. 28 of 1981. L.N. 346/80. Short title. Interpretation. (Cap. 155.) (Cap. 328.) Returns. Secrecy. Offences.

https://oelawhk.lib.hku.hk/items/show/3314

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