C.S. O. 196/10.
A BILL
[No. 13-20.5.21.—1]
INTITULED
601
An Ordinance to regulate the issue of bank
notes.
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 Note Short title. Issue Ordinance, 1921,
2. In this Ordinauce:-
Interpreta-
tion.
(1.) "Bank" means any person or firm carrying Bank.
on the business of banking.
3
54 & 55 Viet. r. 39, s. 29.
bill draft or modi
+
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(2.) "Bank note includes (a) any bill of Bank note.
exchange or promissory note issued by any 54 & 55 Viet. banker for the payment of money to the c. 39, s. 2 hearer on demand; and (b) any bill of exchange or promissory note so issuer which entitles or is intended to entitle the bearer or holder thereof) without indorsement or without any further or other indorsement than may be thereon at the time of the issuing thereof, to the payment of mency or denund, whether the same be so expressed or not and in whatever form or by whom- soever the bill or note is drawn or made.
N
mony to the browsi
or subelly Saddler
not to be
3. Subject to the provisions of section 4 of this Bank notes Ordinance, no bank shall issue or roisane any bank note issuer except within the Colony without the sanction of the Secretary with the of State for the Colonies signified through the Governor, sanction of
the Secretary of State for the Colonies.
4. This Ordinance shall not affect any right or Saving of privilege posscased by any bank under Royal Charter certain or Act of Parliament or Ordinance of issuing or reissuing bank notes.
Tighte
5. (1) If any corporate body issues or reissues any Liability, bank note in contravention of the provisions of section
3 of this Ordinance, every director, manager, secretary and other officer, who knowingly is a party to such issue or reissue, and the said corporate body, shall be deemed to commit an offence against this Ordinance.
(2.) If any natural person issues or reissues any bank note in contravention of the provisions of section 3 of this Ordinance, such person shall be deemed to commit an offence against this Ordinance.
(3.) If any Grm issues or reissues any bank note in contravention of the provisions of section 3 of this Ordinance, every partner in the said firm, mut every servant of the said firm, who knowingly is a party 10 such issue or reissue, and the person appearing to have the management of the said firm within the Colony, shall be deemed to commit an offence giust this Ordinanco.
6. Nothing in this Ordinance shall affect the liability Liability
of any corporate body, person or Grm to the holder of to houder. any bank note issued or reissued by such corporate body, person or firm, whether before or after the on- mencement of this Ordinance, and whether in contra- vention of this Ordinance or not.
or being on landed to