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15.-1.) If any person without lawful authority or Penalty for excuse the proof whereof shall lie upon him :-
(a.) makes or uses or sells or exposes for sale or forging
knowingly has in his possession :---
(i) any instrument for the waking of paper with any words device or distinction peculiar to and appearing in the substance of the paper used for currency notes; and
(i) any paper with any such words device or distinction as aforesaid ;
or
(b.) by any art or contrivance causes any such words device or distinction or any words device or distinction intended to resemble and pass for the same to appear visible in the substance of any paper he shall on conviction be liable to imprisonment with or without hard labour for any period not exceeding five years,
excuse
(2.) If any person without lawful authority or the proof whereof shall lie upon him :--
(a.) engraves or in any wise makes upon any plate whatsoever or upon any material any note pur- porting to be a currency note or a part of a currency note or any name word number figure device character or ornament resembling or apparently intended to resemble any signature to a currency note; or
(b.) uses any such plate or material or any other instruments or device for the making or print- ing of any currency note; or
(e.) knowingly has in bis possession any such plate
material instrumen: or device; or
(d) knowingly utters or has in his possession any paper upon which an impression or any such matter as aforesaid is made or printed,
he shall be liable on conviction to imprisonment with or without hard lahour for a period not exceeding five years.
Dotex.
16. Any power conferred by this Ordinance on a Secre- General
tary of State or the Governor may be exercised from time provision.
to time and any order or regulati u made by a Secretary of State or the Governor for the purpose of exercising any such power may be revoked or varied by such Secretary of State or Governor as the case may be.
17. This Ordinance shall not me into operation unless Date of
and until the Governor notifies by Proclamation that it is coming into
His Majesty's pleasure not to disallow the same and there- operation. after it shall come into operation upon such a day as the Governor shall notify by the same or any other Proclama- tion.
Memorandum, silver
The currency of Hongkong being is bulky and inconvenient for payment of other than small amounts. Certain backs, at present, issnc notes but the amount of such note issued is insufficient to meet the general demand dor and these notes bave, for a considerable time, been at a premium as compared with currency silver dollars.
The bill, based on the lines of the Straits Settlements Currency Note Issue Ordinance, provides for the issue of notes, which will be legal tender for any amount, and the establishment of a noto guarantee fund, partly in coin and partly in approved securities. The interest from the invested portion of the note guarantee fand, will form the depreciation fund and eventually when the hill has been working for some time, will pay for the coss of working the note issue and recompense the Government for any loss on duty at present received from banks issuing notes.
By an issue of Government currency notes, to as large an amount us demanded, with a full guarantee, the preseus inconvenience of a scarcity of issue and a premium on bank notes will be removed and an improvement in the currency effected.
C. Mcl. MESSER,
Treasurer.
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