TNAG-1950-FCO40-2778-Hong-Kong-Exchange-Fund-1989 — Page 33

1987 Ed.]

Exchange Fund

[CAP. 66

CHAPTER 66

EXCHANGE FUND

To make provision for the establishment and management of an exchange fund and as to the employment of its assets in Hong Kong. ( Amended, 20 of 1948, s. 4 and 17 of 1979, s. 2)

Originally

$4 of 1978 (Cap 66, 1950 Ed)

44 of 1936

57 of 1936

9 of 1937

[6 December 1935.]

21 of 1939

12 of 1946

20 of 1948

4 of 1951

54 of 1956

14 of 1958

6 of 1964

31 of 1968

47 of 1968

57 of 1970

90 of 1970

25 of 1971

L.N. 150/1

LN 125/2

8 of 1975.

7 of 1978

1 of 1979 LN 56/80 LN 173/80

I. N. 363/80

L. N. 388/81

26 of 1983

16 of 1984

1. This Ordinance may be cited as the Exchange Fund Ordinance.

( Amended. 20 of 1948, s. 4)

2. In this Ordinance, unless the context otherwise requires --- "bank notes lawfully issued" means notes issued in the Colony by any of the note-issuing banks in accordance with the provisions of The Hongkong and Shanghai Banking Corporation Ordinance and the charter of incorporation of Standard Chartered Bank or any supplemental charter of that bank, or issued in accordance with the above-mentioned provisions as modified by this Ordin- ance, or the Bank Notes Issue Ordinance: (Amended. 20 of 1948, s. 4; 54 of 1956, s. 3; 7 of 1978, s. 3 and 76 of 1984, s. 2) "foreign exchange" means all currencies other than Hong Kong currency and includes sterling and other Commonwealth currencies; ( Amended, 20 of 1948, s. 4)

"note-issuing bank" means Standard Chartered Bank, and The Hongkong and Shanghai Banking Corporation. (Amended, 54 of 1956, s. 3; 14 of 1958, s. 3; 7 of 1978, s. 3 and 76 of 1984, s. 2)

3. (1) There shall be established a fund to be called "the Exchange Fund" which shall be under the control of the Financial Secretary and shall be used for such purposes as the Financial Secretary thinks fit affecting, either directly or indirectly the exchange value of the currency of Hong Kong and for other purposes incidental thereto. The control of the Financial Secretary

76 of 1984 27 of 1986. L.N 64/87 64 of 1987

Short title.

Interpretation.

(Cap 70)

(Cap 65)

Establishment control and management of Exchange Fund.