| Date
| Context
| Summary of development
| Action
|
|---|
| 15.6.01
| HC
| HC decided that the Financial Affairs Panel (FA) should convene a special meeting to receive a briefing on the following bills and report the deliberations to HC -
| The Bank of China (Hong Kong) Limited (Merger) Bill (BOC(HK) Bill) introduced by Dr Hon David LI [Paper]
| | The Bank of East Asia Limited Bill (BEA Bill) introduced by Hon NG Leung-sing [Paper] |
[Minutes "page 7"]
|
|
| 19.6.01
| FA | The Panel discussed with the sponsors of the BOC(HK) Bill and BEA Bill, representatives from the Administration and the two banking groups on the two Bills. [Paper]
The following papers were circulated to members after the meeting -
| Legal advice of the Department of Justice on the human rights angle of the protection of privacy on the BOC(HK) Bill and BEA Bill provided by the Administration [Letter]
| | Reply from the Secretary for Financial Services enclosing the views of the Privacy Commissioner on BOC(HK) Bill and BEA Bill [Letter]
|
|
|
| 22.6.01
| HC
| HC considered the report of FA Panel on the discussion relating to BOC(HK) Bill and BEA Bill. Members raised no objection to the resumption of the Second Reading debate on the two Bills. [Report] [Minutes "page 5"]
|
|
| 12.7.01
| COU
| The BOC(HK) Bill and BEA Bill were passed. [Hansard "page 50"]
|
|
| 5.11.01
| FA | The Panel was briefed by the sponsors and representatives of the concerned banks on the following draft Bills -
| Bank of East Asia, Limited (Merger) Bill sponsored by Hon NG Leung-sing [Paper]
| | Mizuho Corporate Bank, Ltd. (Hong Kong Consolidation) Bill sponsored by Dr Hon David LI [Paper]
|
|
|
| 19.12.01
| COU
| The following two Bills were passed -
|
|
| 9.4.02
| FA | The Panel was briefed by the sponsors and representatives of CITIC Ka Wah Bank Limited on the CITIC Ka Wah Bank Limited (Merger) Bill. [Paper provided by Dr Hon David LI, sponsor of the Bill] [Draft Bill] [Administration's Paper]
The following papers were circulated to members after meeting -
| Letter dated 9.4.02 from Assistant Legal Adviser to Clifford Chance on the Bill [Letter]
| | Reply dated 16.4.02 from Clifford Chance to Assistant Legal Adviser on the Bill [Letter]
|
|
|
| 12.7.02
| COU
| The CITIC Ka Wah Bank Limited (Merger) Bill was passed. [Related papers] [Hansard "page 110"]
|
|
| 4.11.02
| FA | The Panel was briefed by the sponsor and representatives of Overseas Trust Bank Limited, DBS Kwong On Bank Limited and Dao Heng Bank Limited on the draft Dao Heng Bank Limited (Merger) Bill. [Paper provided by Dr Hon David LI, sponsor of the Bill]
|
|
| 16.12.02
| FA | The Panel was briefed by the sponsor and representatives of the Bank of East Asia on the draft Bank of East Asia, Limited (Merger of Subsidiaries) Bill. [Paper provided by Hon NG Leung-sing, sponsor of the Bill]
|
|
| 19.3.03
| COU
| The Dao Heng Bank Limited (Merger) Bill was passed. [Related papers] [Hansard "page 208"]
|
|
| 9.4.03 | COU | The Bank of East Asia, Limited (Merger of Subsidiaries) Bill was passed. [Related papers] [Hansard "page 180"]
|
|
| 2.2.04 | FA | The Panel was briefed by the sponsor and representatives of the Standard Chartered Bank on the draft Standard Chartered Bank (Hong Kong) Limited (Merger) Bill. [Paper provided by Dr Hon David LI, sponsor of the Bill]
|
|
| 28.4.04 | COU | The Standard Chartered Bank (Hong Kong) Limited (Merger) Bill was passed. [Related paper] [Hansard "page 212"]
|
|
| 1.3.04 | FA | The Panel was briefed by the sponsor and representatives of the Wing Hang Bank and the Chekiang First Bank on the draft Wing Hang Bank Limited (Merger) Bill. [Paper provided by Dr Hon David LI, sponsor of the Bill]
The following papers were circulated to members after the meeting -
| Letter dated 9.3.04 from the Wing Hang Bank Limited responding to members' request for information on staff consultation on the proposed merger [Letter]
| | Administration's letter dated 24.5.04 responding to members' requests for information on the general benefits of bank mergers. [Letter]
|
|
|
| 9.7.04 | COU | The Wing Hang Bank Limited (Merger) Bill was passed. [Related papers] [Hansard "page 186"]
|
|
| 1.11.04 | FA | The Panel was briefed by sponsor and representatives of Citibank, N.A., Hong Kong on the draft Citibank (Hong Kong) Limited (Merger) Bill. [Paper provided by Dr David LI, sponsor of the Bill]
The following papers were circulated to members after the meeting -
| Response dated 23.11.04 from Dr Hon David LI [Paper]
| | Response dated 23.11.04 from the Administration [Paper]
|
|
|
| 17.12.04 | FA | The Panel was briefed by the sponsor and representatives of the concerned banks on the draft Industrial and Commercial Bank of China (Asia) Limited (Merger) Bill. [Paper provided by Dr Hon David LI, sponsor of the Bill]
|
|
| 4/05 | BC | The Administration introduced the Citibank (Hong Kong) Limited (Merger) Bill into the LegCo on 6.4.05 and a Bills Committee was formed on 15.4.05 to scrutinize the Bill.
The Bills Committee held one meeting on 29.4.05 [Bills Committee on Citibank (Hong Kong) Limited (Merger) Bill]
The Bills Committee reported its deliberations to the House Committee on 6.5.05. [Report]
The Council passed the Bill on 25.5.05. [Hansard "page 196"]
|
|
| 6.7.05 | COU | The Industrial and Commercial Bank of China (Asia) Limited (Merger) Bill was passed. [Related papers] [Hansard "page 258"]
|
|
| -- | FA | The Bills Committee on Citibank (Hong Kong) Limited (Merger) Bill has examined the need for the Administration to formulate a generic legislation governing bank mergers and reorganizations in Hong Kong during scrutiny of the Bill in May 2005. The Administration noted the concern raised by the Bills Committee, and advised that the matter is being studied in consultation with the banking industry. The Administration undertook to report the findings of the study to the Panel.
In January 2006, the Administration provided an information paper on the current framework of transferring banking services in Hong Kong and findings in relation to the overseas practices in this regard.
In considering the desirability and feasibility of introducing new generic legislation in Hong Kong for effecting transfer of banking business, the Administration pointed out that the existing arrangements of transfer by private legislation, which have been in place all along, have been operating smoothly and also well-received by the banking industry. The number of Private Member's Bills has been small, and these cases were dealt with effectively and efficiently, taking on average several months to complete. Any departure from the existing regime would require full consultation with the banking industry and other concerned stakeholders to ensure that the future development of the banking sector as well as the stability of the banking system would not be adversely affected. [Paper] |
|
