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00087
PROCLAMATION NO.5 PUBLISHED IN THE
HONG KONG (BRITISH MILITARY ADMINISTRATION) GAZETTE, DATED OCTOBER 12, 1945
PROCLAMATION NO.5
86
Powers of Note-issuing banks, provisions as to legal tender and notification of the rate of exchange.
I, CECIL HALLIDAY JEPSON HARCOURT,
C.B., C.BE. Rear
Admiral in His Britannic Majesty's Fleet and Commander-in-Chief of His Britannic Majesty's Forces in Hong Kong, DO HEREBY PROCLAIM
ARTICLE 1.
SHORT TITLE. This Proclamation may be cited as the Currency Proclamation.
ARTICLE 2.
INTERPRETATION. "Note-issuing bank" means the Chartered Bank of India, Australia and China, the Hong Kong and Shanghai Banking Corporation and the Mercantile Bank of India, Limited.
ARTICLE 3.
EXTENSION FOR A FURTHER PERIOD OF POWER TO ISSUE BANK NOTES. Notwithstanding that during the enemy occupation some or all of the bank notes specified in the Schedule to this Proclamation may have been issued without cover, each note-issuing bank may, subject (except as in this Article provided) to the provisions
of any Charter or Drdinance for the time being in force relating to such bank, as from the date of this Proclamation, make, issue, re-issue and circulate notes during the period of Military Administration, nothwithstanding anything contained in any such Charter or Ordinance relating to the termination by effluxion of time of the powers in that behalf granted to such bank.
ARTICLE 4.
NOTES TO BE TREATED AS LEGAL TENDER. All bank notes lawfully issued or re-issued hereafter in pursuance of the powers hereby extended, all bank notes lawfully issued or re-issued by the note-issuing banks on or before the 25th day of December, 1941 and all bank notes of the note-issuing banks issued or re- issued during the period of enemy occupation of the Colony will be treated by the Military Administration as legal tender to any amount: provided that the bank notes bearing serial numbers within the range of such numbers specified in the First Schedule hereto in relation to notes of the denominations and descriptions stated in the said Schedule will not be treated by the Military Administration as legal tender.
ARTICLE 5.
NOTES TO BE TREATED AS LEGAL TENDER UNTIL REDEMPTION.
(1) The notes described in the Second Schedule hereto may
be issued by any person authorised in that behalf by the Finance Controller as defined by the Moratorium Proclamation.
(2)
Each class of such notes shall until the expiration of the period within which such class is declared to be redeemable, be treated by the Military Administra- tion as legal tender to any amount in like manner
as if such class of notes had been lawfully issued
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THE NATIONAL ARCHIVES
N
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