ORDINANCE NO. 2 OF 1895,
An Ordinance to regulate the issue of Bank Notes.
A.D. 1895. 530
20th March, 1895,
Be it enacted by the Governor of Hongkong, with the advice and consent of the Legislative Council thereof, as follows:-
1. This Ordinance may be cited as the Bank Notes (Issue) Ordinance, 1895.
Short title.
2. In this Ordinance the word "Bank" includes any person, partnership, or company carrying on the business of banking within the Colony.
Interpretation of term.
3. It shall not be lawful hereafter for any Bank to make, issue, or circulate within the Colony bank notes payable to bearer on demand except with the previous sanction of one of Her Majesty's Principal Secretaries of State signified through the Governor.
Prohibition of issue of bank notes.
4. This Ordinance shall not affect any bank notes payable to bearer on demand which are in circulation on the 20th day of March, 1895, nor shall it affect any right or privilege possessed by any Bank under Royal Charter or Ordinance of the Colony of issuing or re-issuing within the Colony bills or notes payable to bearer on demand, except by sanction of a Secretary of State.
Saving as to existing bank note issue etc.
5. (1) Every Bank shall, on the written application of the Colonial Treasurer, furnish him with a statement of its Bank notes payable to bearer on demand in circulation on the 20th day of March, 1895. (2) Such statement shall be signed by the Banker, or Manager, or agent and accountant of such Bank, and shall be sufficient to enable any such Bank notes in circulation on such day to be distinguished from those not then in circulation.
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