311215-1941-Supplementary-Draft-Bills--Rents — Page 17

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Definitions.

Form, issue and record- ing of certificates.

Brokerage.

Persons entitled to purchase and hold certificates.

SECOND SCHEDULE.

[Sec. 18 (3).]

Hong Kong War Savings Certificates Regulations.

1. These regulations may be cited as the Hong Kong War Savings Certificates Regulations, 1941.

2. For the purposes of these regulations the following expressions have the meanings assigned to them respectively, that is to say-

amount repayable" in relation to any certificate, includes any increment which had accrued due in respect of that certificate;

prescribed means prescribed by the Accountant-General;

includes any cheque, money order or other instru-

warrant

ment by which repayment is affected.

Issue and purchase of certificates.

3.-(1) Certificates shall be in the prescribed form and shall be issued by such officers of the Post Office, or other persons or institutions as may be authorized by the Accountant-General in that behalf.

(2) An application to purchase a certificate shall be made in such manner as the Accountant-General may require, and, for the purposes of any such application the applicant shall deliver such documents and other information in writing as he may require.

(3) The names of all persons who are for the time being holders of certificates shall be recorded at such place and in such manner as the Accountant-General may determine.

(4) If a certificate is sold by any authorized person or institution other than a person in the employment of the Hong Kong Government such person or institution shall receive from the Accountant-General a fee amounting to one-eighth of one per centum of the sale value of the certificate which fee shall be deemed to be expenses of the issue under section 11. In case of dispute the decision as to who is entitled to the fee as seller shall lie with the Accountant-General.

4.-(1) A certificate may be purchased and held by any of the following persons or by any two or more such persons jointly, that is to say-

(a) any person of the age of seven years or upwards, being a person who is not under any legal disability otherwise than by reason of his not having attained the age of eighteen years;

(b) any body of persons which the Accountant-General may in his discretion approve for the purpose, either generally or with respect to any particular purchase.

(2) Subject to the provisions of these Regulations, a certificate may be purchased----

(a) on behalf of and in the name of a person under the age of seven years, by any other person; and

(b) on behalf of and in the name of a person of unsound mind, by his committee;

and any certificate so purchased shall be deemed to be held by the person on whose behalf it is purchased.

(3) Subject to the provisions of these regulations, a certificate may be purchased by any person (including the Official Trustee, the Official Receiver, and the Secretary for Chinese Affairs) as a trustee for-

(a) any person entitled under sub-paragraph (a) of paragraph (1) of this regulation to purchase and hold a certificate; or

(b) any person under the age of seven years;

and any certificate so purchased shall, where the purchaser is the Official Trustec, the Official Receiver or the Secretary for Chinese Affairs, be deemed to be held by him and his successors in office as such, and in any other case be deemed to be held jointly by the trustee and the beneficiary.