CAP. 34
Money Changers
[1989 Ed.
CHAPTER 34
MONEY CHANGERS
To provide for the disclosure by money changers of exchange rates on exchange transactions and for the obtaining of consent thereto.
(Amended 9 of 1989 s. 2)
[1 April 1985] L.N. 57 of 1985
Originally 9 of 1985 ---- R. Ed. 1985, 27 of 1986, 9 of 1989, 3 of Jo.
1. Short title
This Ordinance may be cited as the Money Changers Ordinance.
2. Interpretation
(Amended 9 of 1989 s. 3)
In this Ordinance, unless the context otherwise requires-
(Added 9 of 1989 s. 4)
"board" means a device used for displaying the net rates of exchange required under this Ordinance and includes a video display screen;
"buy" means, in relation to a Hong Kong dollar exchange transaction, to buy foreign currency from a customer and includes an offer to buy;
"currency" includes a cheque and a traveller's cheque;
"exchange transaction" means a transaction between a money changer and another person relating to the exchange of different currencies;
"hotel" has the meaning assigned to it by section 2 of the Hotel Proprietors Ordinance (Cap. 158);
"money changer" means a person who carries on in Hong Kong the business of exchanging currencies, not being a business which-
(a) is a service provided and operated by that person primarily for the convenience of guests of a hotel managed by him;
(b) is carried on within the hotel premises; and
(c) consists solely of transactions for the purchase by that person of other currencies in exchange for Hong Kong currency;
"net rate of exchange" means when a money changer buys or sells Hong Kong dollars, the net price per unit of foreign currency, expressed in Hong Kong dollars, that the money changer is prepared to exchange for the foreign currency tendered or requested by the customer, after deducting all charges and commissions;
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CAP. 34
Money Changers
[1989 Ed.
CHAPTER 34
MONEY CHANGERS
To provide for the disclosure by money changers of exchange rates on exchange
transactions and for the obtaining of consent thereto.
(Amended 9 of 1989 s. 2)
[1 April 1985] L.N. 57 of 1985
Originally 9 of 1985 ---- R. Ed. 1985, 27 of 1986, 9 of 1989, 3 of Jo.
1.
Short title
This Ordinance may be cited as the Money Changers Ordinance.
2. Interpretation
(Amended 9 of 1989 s. 3)
In this Ordinance, unless the context otherwise requires-
(Added 9 of
"board" means a device used for displaying the net rates of exchange required
under this Ordinance and includes a video display screen; 1989 s. 4)
“buy” means, in relation to a Hong Kong dollar exchange transaction, to buy foreign currency from a customer and includes an offer to buy; (Added 9 of 1989 s. 4)
"currency" includes a cheque and a traveller's cheque;
"exchange transaction" means a transaction between a money changer and
another person relating to the exchange of different currencies;
"hotel" has the meaning assigned to it by section 2 of the Hotel Proprietors
Ordinance (Cap. 158);
"money changer" means a person who carries on in Hong Kong the business of
exchanging currencies, not being a business which-
(a) is a service provided and operated by that person primarily for
the convenience of guests of an hotel managed by him;
(b) is carried on within the hotel premises; and
(c) consists solely of transactions for the purchase by that person of
other currencies in exchange for Hong Kong currency;
"net rate of exchange" means when a money changer buys or sells Hong Kong dollars, the net price per unit of foreign currency, expressed in Hong Kong dollars, that the money changer is prepared to exchange for the foreign currency tendered or requested by the customer, after deducting all charges and commissions; (Added 9 of 1989 s. 4)
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