Money Changers
[CAP. 34
5
Where a money changer contravenes section 4 in respect of an exchange transaction the other party to the transaction may, on the ground of such contravention and without prejudice to any other right or remedy, rescind the transaction within 3 days after the date thereof.
(Amended 9 of 1989 s. 6)
6. Money changer to display rates
(1) If a money changer is prepared to enter into a Hong Kong dollar exchange transaction for any of the currencies prescribed in Schedule 3, the money changer shall maintain a board displaying the current net rate of exchange offered by him to customers for both buying and selling the currencies.
(2) If a money changer maintains more than one board displaying net rates of exchange, he shall display, on all of the boards, identical information relating to the net rates of exchange displayed.
(3) A money changer shall
(a) provide a sufficiently large board to display the net rates of exchange in a clearly visible and legible manner to the customer; and
(b) place the board in a well-lit place where the customer has an unobstructed view of the board.
(4) A money changer shall display on the board the net rate of exchange which is least favourable to the customer and may offer a net rate of exchange that is not shown on the board if the offered rate is more favourable to a customer.
(5) A money changer shall display on the board, and set out in any note issued under section 7(1), the buying and selling net rates of exchange under the headings "we buy" and "we sell" respectively.
(6) A money changer may display a net rate of exchange in multiple units of 10 or 100 units of foreign currency with a corresponding adjustment to the Hong Kong dollar figure.
(7) A money changer who contravenes this section commits an offence and is liable to a fine of $5,000 and to imprisonment for 6 months.
(Replaced 9 of 1989 s. 7)
7. Exchange of other currencies
(1) If a money changer is prepared to enter into an exchange transaction involving a currency other than one of those set out in Schedule 3, he shall give the potential customer a note in writing of both-
Money Changers
[CAP. 34
5
Where a money changer contravenes section 4 in respect of an exchange transaction the other party to the transaction may, on the ground of such contravention and without prejudice to any other right or remedy, rescind the transaction within 3 days after the date thereof.
(Amended 9 of 1989 s. 6)
6. Money changer to display rates
(1) If a money changer is prepared to enter into a Hong Kong dollar exchange transaction for any of the currencies prescribed in Schedule 3, the money changer shall maintain a board displaying the current net rate of exchange offered by him to customers for both buying and selling the
currencies.
(2) If a money changer maintains more than one board displaying net rates of exchange, he shall display, on all of the boards, identical information relating to the net rates of exchange displayed.
(3) A money changer shall
(a) provide a sufficiently large board to display the net rates of exchange in a clearly visible and legible manner to the customer; and
(b) place the board in a well lit place where the customer has an
unobstructed view of the board.
(4) A money changer shall display on the board the net rate of exchange which is least favourable to the customer and may offer a net rate of exchange that is not shown on the board if the offered rate is more favourable to a
customer.
(5) A money changer shall display on the board, and set out in any note issued under section 7(1), the buying and selling net rates of exchange under the headings "we buy" and "we sell" respectively.
(6) A money changer may display a net rate of exchange in multiple units of 10 or 100 units of foreign currency with a corresponding adjustment to the Hong Kong dollar figure.
(7) A money changer who contravenes this section commits an offence and is liable to a fine of $5,000 and to imprisonment for 6 months.
(Replaced 9 of 1989 s. 7)
7.
Exchange of other currencies
(1) If a money changer is prepared to enter into an exchange transaction involving a currency other than one of those set out in Schedule 3, he shall give the potential customer a note in writing of both-
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