CO129-394 - Governor Sir May & Public Offices - 1912 [12] — Page 154

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Draft Bill entitled An Ordinance to prohibit the Circula-

-tion of Foreign Notes.

Be it enacted &c.,

&c.,

C.0.

2217

bc... REC?

Short Title.

1. This Ordinance may be cited as the ForeignKoteAohibi-

-tion of Circulation), Ordinance 1913.

Definition of 2. In this Ordinance the word "note" includes all promissory notes made by & Note.

banker, payable to bearer on demand, and intended to circulate as money, and also all deeds, papers, or parchments, written or printed, or partly written and partly printed, by whomsoever issued, purporting to be or to represent money and intended to circulate as money.

ISIA

Circulation

of Notes pro-

-hibited save

in certain authorized cases.

Penalty for unlawful jcirculation lof notes.

Circulation defined.

Provisions

for addition to authorised exemptions from Ordinan-

-Ce

3. The Circulation of all kinds of notes other than those of

the Hongkong and Shanghai Banking Corporation, the Chartered Bank of India, Australia and China and the Mercantile Bank

of India is prohibited.

4 (1). If any person circulates or attempts to circulate any note or notes the circulation of which is prohibited by this Ordinance, he shall be liable on summary conviction to a fine not exceeding 20 dollars and the note or notes so circulated

or attempted to be circulated shall be forfeited.

(2). For the purposes of this section a person shall be deemed to circulate notes if he tenders, utters, buys, sells, receives or pays them, or puts them off; provided that a person shall not be deemed to circulate notes if he gives or

receives such notes to or from a bona fide banker or licensed

money changer in exchange for other nates or coin or for any

other purpose, and provided also that this section shall not

be construed so as to prevent or restrict the legitimate business of a bona-fide exchange banker or licensed money- -changer.

5.

Whenever a notification shall appear in the Gazette under

the hand of the Colonial Secretary to the effect that the

issue of notes other than those specified in Section 3 above

has been sanctioned by Royal Charter or Ordinance then such

notes shall be exempted from the provisions of this Ordinance

in

1