218676-1935-Treaty-of-Peace-Covenant-of-the-League-of-Nations-Order-1935 — Page 4

THE HONG KONG GOVERNMENT GAZETTE, NOVEMBER 15,

(i) the government of any Italian territory; or (ii) any person (not being a body corporate) of what- ever nationality resident in any such territory; or

(iii) any person (wherever resident), being a body cor- porate incorporated under the law of any such territory; or

(b) offer for subscription, underwrite or otherwise assist in the issue of, or subscribe for, any shares (wherever issued or to be issued) in any such body corporate.

(2) Without prejudice to the generality of the foregoing provisions of this Article, any person who either—

(a) by giving a guarantee or becoming a party to a bill of exchange, assumes any liability for the payment of money and thereby enables another person to raise money; or

(b) buys a bill of exchange, not being a bill payable on demand, from another person; or

(c) in connection with a sale of goods, gives credit in any form to or for the benefit of another person;

shall be deemed for the purpose of this Article to make a loan to or for the benefit of that other person:

Provided that a person shall not be deemed to make a loan by reason only that he delivers goods the price whereof has been paid on or before delivery in manner provided by Article 4 of the agreement regarding trade and payments embodied in an Exchange of Notes dated the twenty-seventh day of April, nineteen hundred and thirty-five, between His Majesty's Government in the United Kingdom and the Italian Government.

(3) Nothing in this Article shall be taken to prohibit the performance of any contract made before the date of the making of this Order with any Government or person other than such a Government or person as is mentioned in sub- paragraph (a) of paragraph (1) of this Article, but save as aforesaid the provisions of this Article shall have effect not- withstanding anything in any contract.

(4) Nothing in this Article shall apply to any loan to or for the benefit of an institution which is certified by the Treasury to have a humanitarian or religious object.

(5) If any person contravenes the provisions of this Article he shall be liable-

(a) on conviction on indictment, to imprisonment for a term not exceeding two years or to a fine or to both such imprisonment and a fine; or

(b) on summary conviction, to imprisonment for a term not exceeding twelve months or to a fine not exceeding one hundred pounds or to both such imprisonment and fine.

(6) Where a contravention of this Article by a body corporate is proved to have been committed with the consent or approval of, or to have been facilitated by any neglect on the part of, any director, manager, secretary or other officer of the body corporate, he as well as the body corporate shall be deemed to be guilty of the contravention and shall be liable to be proceeded against and punished accordingly.

1935.

1097

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