594260-1939-Defence-Finance-Regulations-1939--Further-amendments-to-the — Page 2

1036

THE HONG KONG GOVERNMENT GAZETTE, SEPTEMBER 25, 1939...

is.

(2) Every British subject resident in the Colony who at the date on which this Regulation comes into operation or after that date becomes, entitled to assign, OF

to any right to procure the assignment, of any

receive outside the Colony or the United Kingdom, in respect of any credit or balance at a bank, payment of any amount in a foreign currency to which this Regulation applies, sball, unless the Governor or a person designated by the Governor for the purposes of this Regulation gives him notice to the contrary, do all things necessary for the purpose of assigning that right to the Government or to a person so designated.

The sum payable as consideration for any assignment made in accordance with this paragraph shall be such as may be determined by or on behalf of the Governor.

(3) The preceding provisions of this Regulation shall not impose upon any person an obligation in respect of any currency or right to receive payment of any amount. if-

(a) he satisfies the Governor or a person designated by the Governor for the purposes of this Regulation that all the persons interested in that currency, other than persons in- terested therein merely as trustees or merely by virtue of any mortgage, pledge or charge created before the third day of September, nineteen hundred and thirty-nine, but including any persons beneficially interested in the currency under a trust, are not British subjects, or

(b) he satisfies the Governor or a person so designated that the currency or amount, as the case may be, is held or is required for the purpose-

(i) of performing a contract made before the third day of September, nineteen hundred and thirty-nine, or

(ii) of meeting the reasonable requirements of a trade or business carried on in the Colony otherwise than by way of dealing in foreign exchange, or

(iii) of defraying reasonable travelling or other personal

expenses, or

(c) he is, in respect of that currency or right, as the case may be, exempted from this Regulation by the Governor or by a person so designated.

(4) The foreign currency to which this Regulation applies is such foreign currency as may from time to time be designated by the Governor for the purposes of this Regula- tion, by notice published in the Gazette,

II. In Regulation 5 of the Defence (Finance) Regula- tions the following new definition is inserted after the definition of Bank notes **

66

"British subject includes every person who is a British subject within the meaning of the British Nationality and Status of Aliens Acts, 1914 to 1933, and also every corpora- tion or company incorporated in the British Empire by or under any Charter or Enactment.

Published by His Excellency`s Command.

25th September, 1939.

R. A. C. NORTH.

Colonial Secretary.