1
(g) a warrant conferring an option to acquire 3
security;
(b) a share in an oil royalty.
23. Permission is required for persons subject no
order to do anything which involves parting with any securities or making any change in the persons to whose order any securities are to be held in compliance with a direction given by or on behalf of residents of Kuwait.
24. The Financial Secretary will consider applications
From persons engaged in the discretionary management of portfolios of securities on behalf of residents of Kuwait to continue to manage the portfolios in question. Permission will not normally be given allow the release of portfolios from Hong Kong control.
25. where securities are registered in the name of a
person resident in Kuwait, no order requiring payments of capital monies, dividends or interest any person outside Hong Kong may be complied with without permission, which is hereby given provided payment is to a "Kuwaiti Account". Such permission is also given where persons subject to the Order hold bearer securities for account of persons resident in Kuwait. All other cases should be referred to the Financial Secretary.
Kuwaiti securities
26. No permissions are necessary for transfers ot
securities issued by residents of Kuwait except when a person subject to the Order is
the Order is required, by a direction given by or on behalf of a resident of Kuwait, to part with any such security or to make any change in the persons to whose order any such security is to be held.
27. Application should be made to the Financial Secretary
for any permission needed by paying agents in Hong Kong for Kuwaiti securities to make interest, dividend or redemption payments on, OF 50 buv
such securities.
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