FOREIGN NOTES (PROHIBITION OF CIRCULATION) ORDINANCE

FOREIGN NOTES (PROHIBITION OF CIRCULATION) ORDINANCE

CHAPTER 68.

FOREIGN NOTES (PROHIBITION OF, CIRCULATION).

To prohibit the circulation of foreign notes.

[1st August, 1913.]

1. This Ordinance may be cited as the Foreign Notes (Prohibition
of Circulation) Ordinance.

2. In this Ordinance, 'note' includes all promissory notes made
by a banker, payable to bearer on demand, and intended to circulate as
money, and also all deeds, papers or parchments, written or printed, or
partly written and partly printed, by whomsoever issued, purporting to
be or to represent money and intended to circulate as money.

3. The circulation of all kinds of, notes other than those of The
Hongkong and Shanghai Banking Corporation, the Chartered Bank of
India, Australia and China and the Mercantile Bank of India is
prohibited.

4. (1) Any person who circulates or attempts to circulate any note
or notes the circulation of which is probibited by this Ordinance shall
upon summary conviction be liable to a fine of twenty-five dollars, and
the note or notes so circulated or attempted to be circulated shall be
forfeited.

(2) For the purposes of this section, a person shall be deemed to
circulate notes if he tenders, utters, buys, sells, receives or pays them,
or puts them off : Provided that a person shall not be deemed to
circulate notes if he gives or receives such notes to or from a bona fide
banker or licensed money-changer in exchange for other notes or coin
or for any other purpose : Provided also that this section shall not be
construed so as to prevent or restrict the legitimate business of a bona
fide exchange banker or licensed money-changer.

5. Whenever a notification appears in the Gazette under the hand
of the Colonial Secretary to the effect that the issue of notes other than
those specified in section 3 has been sanctioned by Royal Charter or
Ordinance, then such notes shall be exempted from the provisions of
this Ordinance in the same manner as those specified in the said
section.
Originally 13 of 1913. Fraser 13 of 1913. Short title. Interpretation. Circulation of notes prohibited save in certain authorized cases. Penalty for unlawful circulation of notes. Circulation defined. Provisions for addition to authorized exemptions from Ordinance.

Originally 13 of 1913. Fraser 13 of 1913. Short title. Interpretation. Circulation of notes prohibited save in certain authorized cases. Penalty for unlawful circulation of notes. Circulation defined. Provisions for addition to authorized exemptions from Ordinance.

https://oelawhk.lib.hku.hk/items/show/1761

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