306053-1941-Defence-Finance-Regulations-1940-Addition-of-regulation-2-B-to-the — Page 2

1576

THE HONG KONG GOVERNMENT GAZETTE. NOVEMBER 6, 1941.

tiou be conducted in this Colony or not, unless the transaction is conducted with or through dealer authorized, or a bunk registered, under regulation 1:

ntrol.

(b) own, or have in his possession, eustody or whether in this Colony or elsewhere, except in China, any Chinese National currency notes unless he has-

() before the 14th day of November, 1941; or

(ii) at any time before the notes came into his ownership, possession, custody or control: and

(iii) thereafter, on the prescribed date in every month.

declared the whole amount of the notes in such manner and to such person (hereinafter called the Registration Officer) as the Governor may prescribe :

Provided that a person shall not be required so to declare such notes if

(i) his total holding of such notes does not exered in value (N$5,000; or

(ii) he has a bona fide business or is a partner of manager of a bond fide business established before the 6th day of November, 1941, in this Colony, and his total holding. though exceeding CN$5,000, does not exceed (N$30,000 and is necessary for the purposes of that business,

The Registration Officer shall issue to the declarant, or to any person who applies to him for permission to hold Chinese National currency notes, a certificate specifying the total amount of such notes which the declarant or such person is permitted to hold, and the certificate shall also specify the

units within which the holding may be varied.

It shall be an offence to own, or have possession, custody or control of, any Chinese National currency notes, whether in this Colony or elsewhere, except in China, in breach of any such permission;

(c) import to or export from this Colony any Chinese National currency notes or do any act which directly or indirectly constitutes or leads to any alteration in the amount. situation, ownership, custody or control of any Chinese National currency notes whatever and wherever situate, out- side China, unless in the case only of a person of Chinese race the effect of the alteration is merely to increase or diminish his holding within the limits specified in a certificate issued to him under sub-paragraph (b), or unless such person is not required to register his holding under that sub-paragraph.

(2) For the purposes of this regulation, an exchange transaction involving Chinese National currency includes and extends to any transaction by which any note issued by a bank, any bill of exchange, promissory note, deposit receipt or entry in any account book, such note, bill, receipt or entry being expressed in terms of Chinese National currency, is dealt with in such a way that it involves, directly or indirectly, any change in the ownership, title, custody or situation of or lien on any other currency wherever situate, or any change in any entry in an account book wherever situate kept in any other currency, or any change in any property whatever within this Colony.