1 201
No. 14:23.4.35.-2.]
A BILL
INTITULED
An Ordinance to prevent the making, issuing and circulating
of pieces of metal usually called tokens.
BE it enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof, as follows:
1. This Ordinance may be cited as the Tokens Ordin- Short title. ance, 1935.
of tokens.
57 Geo. 3, c. 46, s. 1.
2. No piece of metal or mixed metals, not being money, Prohibition shall be made, issued or circulated in the Colony as a token 2 Geo. 3, for money, or as purporting that the bearer or holder thereof c. 157, s. 1. is entitled to demand any value denoted thereon, either by letters, words, figures, marks or otherwise, whether such 33 & 34 value is to be paid or given in money, goods, fares services, or in any manner whatsoever.
3. Every person who acts in contravention of section shall be liable on summary conviction to a fine exceeding two hundred dollars.
or
Vict. c. 10, s. 5.
this Penalty. not Vict. c. 10,
33 & 34
s. 5.
Objects and Reasons.
1. The object of this Ordinance is to make it clear that the manufacture, issue and circulation in the Colony of pieces of metal, not being money, as tokens for money is prohibited.
2. The importation and circulation of silver, nickel, copper and bronze coins is regulated by Ordinances No. 15 of 1913, and No. 11 of 1912.
3. The right to authorise the issue of metallic tokens as money or as the equivalent of money is a prerogative of the Crown recognised by common law, but now for the most part regulated by statute or Order in Council (see 6 Hailsham's Halsbury p. 548 and the Encyclopaedia of the Laws of England Vol. 14 p. 130).
4. The private issue of tokens has long been forbidden in the United Kingdom and Statutes to that effect are now consolidated in section 5 of the Coinage Act 1870 (33 & 34 Vict. c. 10). That Act is not in force in the Colony, but two Statutes it replaced, namely 52 Geo. 3, c. 157 and 57 Geo. 3, c. 46, are apparently in force by virtue of section 5 of Ordinance No. 3 of 1873. These Statutes made it an offence to issue or circulate pieces of metal usually called tokens.