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THE HONG KONG GOVERNMENT GAZETTE, MARCH 21, 1940.
Restrictions on British subjects charging securities.
(i) that all the persons interested in that gold, other than persons interested therein merely as trustees or merely by virtue of any mortgage, pledge or charge created before the third day of September, 1939, but including any persons beneficially interested in the gold under a trust, are not resident in the Colony; or
(ii) that the gold is required for the purpose of perform- ing a contract made before the said day; or
(ii) that the gold is held for the purpose of meeting the reasonable requirements of a trade or business carried on in the Colony otherwise than by way of dealing in gold; or
(iv) that the gold has been imported into the Colony with a view to re-exportation in pursuance of a regular trade in gold; or
(b) he is, in respect of that gold, exempted from this Regulation by the Governor or by a person so designated.
4.-(1) The Governor may by order direct----
(a) that, subject to any exemptions for which provision may be made by the order, no British subject shall, except with permission granted by or on behalf of the Governor, sell, transfer, or do anything which involves the creation of a charge on securities owned by him of any such class as may be specified in the order, being a class of securities which, in the opinion of the Governor, is likely to be marketable outside the Colony; and
(b) that any British subject who is the owner of any securities of the said class shall, in such manner and within such period as may be specified in the order, make a return to the Governor or a person or corporation designated by the Governor for that purpose giving such particulars with respect to those securities as may be so specified.
For the purposes of this regulation a person who mortgages or pledges a security shall be deemed thereby to create a charge on the security.
(2) At any time while an order made under the preceding paragraph with respect to securities of any class is in force. the Governor, if he is of opinion that it is expedient so to do, may, by an order made generally with respect to any specified securities of that class, or by directions given with respect to any securities of that class of which any particular person is the owner, transfer to the Commissioners for the time being of His Majesty's Treasury in the United Kingdom, the securities to which the order or directions relates or relate at a price which, in the opinion of the Governor, is not less than the market value, at the London official rate of exchange, of the securities on the date of the making of the order or the giving of the directions. Such price shall be specified in an order or direction made or given not later than five days after the date of the order or direction by which the securities were transferred.
(3) Where any order is made, or any directions are given, under the last preceding paragraph, with respect to any securities-
(a) those securities shall forthwith vest in the said Com- missioners free from any mortgage, pledge or charge and the said Commissioners may deal with the securities as they think fit;
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