BANK NOTES ISSUE ORDINANCE, 1895

BANK NOTES ISSUE ORDINANCE, 1895

No. 2 of 1895.

An Ordinance'lo regulate the issue of bank notes.

[20th March, 1895.]

1. This Ordinance may be cited as the Bank Notes Issue
Ordinance, 1895.

2. In this Ordinance, ' bank ' includes any person, part-
nership, or company carrying on the business of banking within
the Colony.
3. It shall not be lawful for any bank to make, issue, or
circulate Within the Colony bank notes payable to bearer
on demand, except with the sanction of a Secretary of State
signified through the Governor.

4. This Ordinance shall not affect any right or privilege
possessed by any bank under Royal, Charter or Ordinadce of
issuing or re-issuing within the Colony bills or notes payable
to bearer on demand.

5. If any bank makes, issues or circulates within the Colony
any bank notes payable to bearer on demand in contravention
of-the provisions of this Ordinance, it and its principal manager
or agent in the Colony and each of the partners (if any) therein
shall upon summary conviction be liable to a fine not'exceeding
one thousand dollars, and in the case of a second or subsequent
conviction to imprisonment for a term not exceeding three
months and to a fine not exceeding one thousand dollars:
Provided that if the offender be a body corporate it shall be
liable on a second or subsequent conviction to a fine not
exceeding five thousand dollars.
[Originally No.2 of 1895.] Short title. Interpretation. Issue of bank notes to be sanctioned by Secretary of State. Saving of existing note issues. Penalties.

[Originally No.2 of 1895.] Short title. Interpretation. Issue of bank notes to be sanctioned by Secretary of State. Saving of existing note issues. Penalties.

https://oelawhk.lib.hku.hk/items/show/1448

1937

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