00020
(
SAVINGRAM
To the Secretary of State for the Colonies.
From the Governor, Hong Kong.
Date
No.
·
2
20
1
2
Ref.:
THE NATIONAL ARCHIVES
CO 537/1374
restrictions. Further information is given in the enclosed Terms and Conditions of supply of National Archives' leaflet Please note that this copy is supplied subject to the National Archives' terms and conditions and that your use of it may be subject to copyright
2. From the foregoing papers it will be seen that the Bank is utterly opposed to the proposed legislation and considers that it would enure wholly for the benefit of persons of doubtful loyalty who took advantage of the depreciated Japanese currency to seek to discharge their pre-occupation liabilities.
3. I am advised that if, notwithstanding the fact that the general principles are wholly unacceptable by the Bank, this legislation should be enacted, the following amendments of the Model Ordinance would be desirable:
(a) Section 2.
Definition of "Custodian". The words "or to receive rentals due to enemies of the Japanese" to be inserted after the word "Property" in the second line in order to cover the case of the Rent Office established by the Japanese to which rents were paid.
(b) Section 2. "Hong Kong Currency" to be defined as
the dollar currency in circulation and constituting legal tender in the Colony.
(c) Section 3 (1). The words "or in purported discharge
of a debt due by such debtor" to be inserted after the words "on his behalf" in the seventh and eighth lines.
(d) Section 3(2)(b). The words "in default of any agreement to the contrary entered into without duress during the occupation period or thereafter" to be inserted between the word "shall" and the words "be re-valued" in the seventh line.
/(e)
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