1965-HKRS30-8-55_Part01 — Page 19

EMERGENCY REGULATIONS ORDINANCE.

(Chapter 241).

EMERGENCY (BANK CONTROL) REGULATIONS 1965.

The Governor in Council, having considered that an occasion of emergency or public danger has arisen, in exercise of the powers conferred upon him by section 2 of the Emergency Regulations Ordinance, bas made the following regulations-

1. These regulations may be cited as the Emergency (Bank Çitation. Control) Regulations 1965.

2. In these regulations, unless the context otherwise requires Interpreta-

tion. "account" includes every current, deposit, savings or other account,

howsoever called;

"bank" means-

I

1964).

(a) any company which carries on banking business in the Colony (No. 30 of

and holds a valid licence granted under section 7 of the Bank- ing Ordinance 1964;

(b) any unincorporated person or body of persons who or which carries on banking business in the Colony and holds a valid licence issued under section 42 of the Banking Ordinance 1964; (c) any company and any unincorporated person or body of persons to which or whom a licence is deemed to have been issued under the Banking Ordinance 1964, by virtue of the provisions of section 70 thereof; and

(d) any company to which a licence has been granted under the provisions of section 73 of the Banking Ordinance 1964;

“cash” means any bank note or coin which is legal tender in the Colony.

3. No bank shall, subject to the provisions of regulation 4, pay Limitation out in cash from any one account a sum in excess of one hundred on amounts

of payments dollars in any day.

in cash.

ure allowed.

4. (1) Notwithstanding the provisions of regulation 3, a bank. When longer may pay out in cash from any one account on any day a sum in excess payments of one hundred dollars if the bank is satisfied that such sum is required for the payment of wages within forty-eight hours of the time at which payment out is made.

(2) The Governor may, by notice in the Gazette, specify in what other circumstances a bank may make payments in cash from any one account in excess of one hundred dollars in any day.