980
THE HONG KONG GOVERNMENT GAZETTE, SEPTEMBER 15, 1939.
No. 800.
Hong Kong.
In exercise of the powers conferred on him by the Emergency Powers (Defence) Act, 1939, as extended to the Colony by the Emergency Powers (Colonial Defence) Order in Council, 1939, and of all other powers enabling him in that beinlf, the Governor makes the following amendments in the Defence (Finance) Regulations, 1939, published as Govern- ment Notification No. 758 in the Cinzette Extraordinary, No.
19, of the 8th September, 1989.
Amendments.
1. Pongraph (1) of regulation is amended by the addition of the following proviso at the end thereof; ----
Provided (6) that nothing in this regulation shall prevent the exchange of foreign coin and notes by licensed money- changers in the lawful pursuance of their ordinary trade:
and
(b) that any Chinese native bank, registered as such for the purpose of this regulation with the Financial Secretary, may, notwithstanding that it is not an authorized dealer in foreign exchange, sell Chinese currency and remit money to China subject to such limits and on such conditions as the Governor or a person designated by him may direct.
2. Paragraph (1) of regulation 2 is rescinded and the following paragraph is substituted therefor:---
2.—(1) Subject to any exemptions which may be granted by order of the Governor, no person shall, except with permission granted by or on behalf of the Governor-
(a) take or send out of the Colony any bank notes, currency notes, gold, securities or foreign currency, or transfer any securities from the Colony elsewhere, or
(b) draw or negotiate any bill of exchange or promissory note, transfer any security or acknowledge any debt, so that a right (whether actual or contingent) to receive a payment in the Colony or the United Kingdom is created or transferred as consideration---
(i) for receiving a payment, or acquiring property, out- side the Colony or the United Kingdom, or
(ii) for a right (whether actual or contingent) to receive a payment, or acquire property, outside the Colony or the United Kingdom:
Provided that the provisions of this paragraph shall not apply to any securities if the Governor or a person designated by him is satisfied that all the persons interested in such securities, other than persons interested merely as trustees or merely by virtue of any mortgage, pledge or charge created before the eighth day of September, 1939, but including any persons beneficially interested in the securities under a trust, are not British subjects.