Hong Kong Ordinances

BANKING ORDINANCE - SECT 45

Fees in respect of local branches

(Past version on 30/06/1997).

(1) Where the establishment by an authorized institution of a local  branch is
approved under section 44, the institution shall pay to the Director of
Accounting Services the fee specified in the Second Schedule in relation to
that branch and thereafter, so long as the branch continues to be maintained
by the institution, it shall pay to the Director of Accounting Services the
fee specified in the Second Schedule on the anniversary in each year of the
date on which the institution was authorized.

(2) An authorized institution that is maintaining, at the commencement of this
Ordinance, a local branch to which section 44(3) applies shall, so long as the
branch continues to be maintained by the institution, pay to the Director of
Accounting Services the fee specified in the Second Schedule on the
anniversary in each year of the date on which the institution was authorized.

(3) An authorized institution that is maintaining, at the commencement+ of
section 2(a)(v) of the Banking (Amendment) Ordinance 2001

(32 of 2001), a local branch to which section 44(3A) applies shall, so long as
the branch continues to be maintained by the institution, pay to the Director
of Accounting Services the fee specified in the Second Schedule on the
anniversary in each year of the date on which the institution was authorized.
(Added 32 of 2001 s. 6) (Enacted 1986. Amended 49 of 1995 s. 8)
___________________________________________________________________________ __
Note: + Commencement date: 24 May 2002.