581098-1940-Defence-Finance-Regulations-1940 — Page 2

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THE HONG KONG GOVERNMENT GAZETTE, MARCH 21. 1940.

a payment in the Colony is created or transferred in favour of a person who is resident outside the Colony, or make any payment to any such person; or

(d) draw 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 a payment in the Colony or in the United Kingdom is created or trans- ferred as consideration—

(i) for receiving a payment, or acquiring property out- side the Colony or in the United Kingdom; or

(ii) for a right (whether actual or contingent) to receive a payment, or acquire property, outside the Colony or the United Kingdom,

or make any payment as such consideration, and the Governor or a person designated by him may impose such restrictions on the making of payments and the doing of any other acts by bankers or brokers in the course of their business as appear to the Governor to be necessary or expedient for the purpose of securing the due enforcement of sub-paragraphs (c) and (d) of this paragraph:

Provided that the provisions of this paragraph shall not apply to any securities if the Governor or a person designated by him is satisfied that all the persons interested in such securities, other than persons interested merely as trustees or merely by virtue of any mortgage, pledge or charge created before the eighth day of September, 1939, but including any persons beneficially interested in the securities under a trust, are not British subjects.

(2) The preceding paragraph shall not restrict the doing of anything, within the scope of his authority, by a person authorized by or on behalf of the Governor to deal in foreign exchange, and shall not restrict the doing of anything which is certified by or on behalf of the Governor to be necessary for the purpose—~~~

(a) of meeting the reasonable requirements of a trade or business carried on in the Colony; or

(b) of performing a contract made before the third day of September, 1939; or

(c) of defraying reasonable travelling or other personal expenses.

(3) Any person who on any occasion is about to leave the Colony (which person is hereafter in this paragraph referred to as the traveller") shall, if requested so to do by the appropriate officer-

(a) declare whether or not he has with him any bank notes, postal orders, gold, securities or foreign currency;

(b) produce any bank notes, postal orders, gold, securities or foreign currency which he has with him, and the appropriate officer and any person acting under his directions may search the traveller and examine or search any article which the traveller has with him, for the purpose of ascertaining whether he has with him any bank notes, postal orders, gold, securities or foreign currency, and may seize any bank notes, postal orders, gold, securities or foreign currency produced or found upon such examination or search unless either----

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