581098-1940-Defence-Finance-Regulations-1940 — Page 1

THE HONG KONG GOVERNMENT GAZETTE, MARCH 21, 1940.

No. 328.

Hong Kong.

In exercise of the powers conferred on him by the Emergency Powers (Defence) Act, 1989, as extended to the Colony by the Emergency Powers (Colonial Defence) Order in Council, 1939, and of all other powers enabling him in that behalf, and subject to the provisions of section 12 of the Interpretation Ordinance. 1911, as to the effect of repeals, the Governor repeals the Defence (Finance) Regulations, 1939, published as Notification No. 758 in the Gazette Extra- ordinary No. 49 of the 8th September, 1939, as subsequently amended by Notification No. 800 in the Gazette No. 51 of the 15th September, 1989, by Notification No. 856 in the Gazette Extraordinary No. 59 of the 25th September, 1939, and by Notification No. 911 in the Gazette Extraordinary No. 65 of the 9th October, 1939, and makes in substitution there- for the following:---

Defence (Finance) Regulations, 1940.

on purchase,

1.--(1) Except with permission granted by or on behalf Restriction of the Governor, no person other than an authorized dealer sale and shall, in the Colony, buy or borrow any foreign currency or any gold from, or lend or sell any foreign currency or any gold to, any person not being an authorized dealer :

Provided (a) that nothing in this regulation shall prevent the exchange of foreign coin and notes by licensed money- changers in the lawful pursuance of their ordinary trade; and (b) that any Chinese native bank registered as such for the purpose of this regulation with the Financial Secretary, may, notwithstanding that it is not an authorized dealer in foreign exchange, sell Chinese currency and remit money to China subject to such limits and on such conditions as the Governor or a person designated by him may direct.

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(2) In this regulation, the expression "authorized dealer means, in relation to any transaction in respect of gold, a person authorized by or on behalf of the Governor to deal in gold, or, in relation to any transaction in respect of foreign currency, a person authorized by or on behalf of the Governor to deal in foreign currency.

loans of foreign

currency and gold.

on export

2.--(1) Subject to any exemptions which may be granted Restriction by order of the Governor, no person shall, except with per- of currency, mission granted by or on behalf of the Governor-

gold and securities.

(a) take or send out of the Colony any bank notes, cur- etc. rency notes, gold, securities or foreign currency, or transfer any securities from the Colony or elsewhere; or

(b) transfer any security from a register in the Colony to a register outside the Colony, or to do any act which is calenlated to secure, or forms part of a series of acts which together are calculated to secure, the substitution, for any security which is either in or registered in the Colony, of a security which is either outside or registered outside the Colony; or

(e) draw, issue or negotiate any bill of exchange or promissory note, transfer any security or acknowledge any debt, so that a right (whether actual or contingent) to receive

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