1941-HKRS28-8-2_Part02 — Page 11

HONG KONG.

No. 21 or 1941.

I assent.

track foun

Governor.

17th October, 1941.

An Ordinance to provide for the issue and re-issue by the Financial Secretary of limited legal tender subsidiary currency notes.

[17th October, 1941.]

Be it enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof, as follows:-

1. This Ordinance may be cited as the Subsidiary short title. Currency Notes Ordinance, 1941.

Financial

2. It shall be lawful for the Financial Secretary to issue Powar for and re-issue one cent, five cents and ten cents currency notes Secretary to in the Colony, which shall be legal tender for the payment lane and of any amount not exceeding one dollar in the case of the Umited one cent noles and not exceeding two dollars in the case of legal tender the five cents and ten cents notes.

subsidiary

Carracuy notes.

Security

3.—(1) The Financial Secretary shall establish a Sub- Note sidiary Note Security Fund into which he shall pay all moneys and. bo receives for sucli currency notes. The Fund shall be held on deposit at one or more banks in the Colony and shall be available for withdrawal from circulation of such portion of the issue of the said currency notes as the Financial Secretary way from time to lime deem it desirable to withdraw: pro- vided that a portion of the Fund may be invested at the discretion of the Financial Secretary.

(2) All expenses incurred in the printing and delivery of currency notes and such other expenses as the Governor may deem necessary in connexion with the issue of such notes shall be charged to the general revenues of the Colony.

(3) Interest or dividends received on any moneys deposited or invested on behalf of the Subsidiary Note Security Fund shall be paid into the general revenues of the Colony,