1989 Ed.]
Money Changers
[CAP. 34
3
"sell" means, in relation to a Hong Kong dollar exchange transaction, to sell foreign currency to a customer and includes an offer to sell; (Added 9 of 1989 s. 4)
"sign" includes to affix a chop or mark; (Added 9 of 1989 s. 4)
"transaction note" means a note of an exchange transaction. (Added 9 of 1989 s. 4)
3. Application of Ordinance
(1) Nothing in this Ordinance shall apply to--
(a) a bank licensed under the Banking Ordinance (Cap. 155); or
(b) a company licensed or registered as a deposit-taking company under the Banking Ordinance (Cap. 155); or (Amended 27 of 1986 s. 137)
(c) an exchange transaction where the amount of the currency tendered for exchange exceeds the sum of $100,000 in Hong Kong currency or the equivalent of such sum.
(2) The sum specified in subsection (1)(c) may be amended by the Governor by notice in the Gazette.
4. Money changer to provide transaction note
(1) A money changer, before completing an exchange transaction by handing any currency to a customer in exchange for currency tendered by the customer, shall-
(a) legibly make out in duplicate a transaction note in the form prescribed in Schedule 1, with such inclusions as are required or permitted by this section, by correctly completing the details of the exchange transaction by using Arabic numerals and an abbreviation commonly used by money changers to signify the type of currency;
(b) sign the transaction note;
(c) explain, in so far as is practicable, the transaction note to the customer and indicate each detail of the exchange transaction set out in the transaction note; and
(d) request the customer to sign the front of the original transaction note in the place reserved for his signature and, unless a copy of the signature is recorded on the duplicate, to sign the front of the duplicate transaction note in the place reserved for his signature.
(2) The details referred to in subsection (1)(a) are-
(a) the date of the transaction;
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