BANK NOTES ISSUE ORDINANCE

BANK NOTES ISSUE ORDINANCE

LAWS OF HONG KONG

BANK NOTES ISSUE ORDINANCE

CHAPTER 65





CHAPTER 65

BANK NOTES ISSUE

To regulate the issue of bank notes and to provide for certain notes being legal
tender and for purposes ancillary thereto.

(Amended 20 of 1948 s. 4)

[20 March 18951

Originally 2 of 1895,54 of 1935,21 of 1939, (Cap. 65,1950) - 50 of 1911,51 of 1911, 1 of
1912,2 of 1912, 43 of 1912, 5 of 1924, 21 of 1939, 2 of 1946, 20 of 1948, 22 of 1950, 54
of 1956, 14 of 1958, 21 of 1969, 7 of 1978, 21 of 1978, 76 of 1984, R. Ed. 1984, L.N. 333
of 1989, 63 of 1989

1. Short title

This Ordinance may be cited as the Bank Notes Issue Ordinance.

(Amended 5 of 1924 s. 6)

2. Interpretation

In this Ordinance, unless the context otherwise requires

'bank' includes any person, partnership, or company carrying on the business of
banking within the Colony; (Amended 5 of 1924 s.2)

'bank notes lawfully issued' means notes issued in the Colony by any of the note-
issuing banks in accordance with the provisions of The Hongkong and
Shanghai Banking Corporation Limited Ordinance (Cap. 70) and the charter of
incorporation of Standard Chartered Bank, or any supplemental charter of that
bank, or issued in accordance with the above-mentioned provisions as modified
by the Exchange Fund Ordinance (Cap. 66), or by this Ordinance; (54 of 1935 s. 2
incorporated. Amended 20 of 1948 s. 4; 54 of 1956 s. 3; 7 of 1978 s. 3; 76 of 1984 s. 2;
L.N. 333 of 1989)

'note-issuing bank' means Standard Chartered Bank, and The Hongkong and
Shanghai Banking Corporation Limited. (21 of 1939 s. 2 incorporated. Amended 54
of 1956 s. 3; 14 of 1958 s. 3; 7 of 1978 s. 3; 76 of 1984 s. 2; L.N. 333 of 1989)

3. Notes to he legal tender and the currency of the Colony

As from 6 December 1935, all bank notes lawfully issued shall be legal

tender in the Colony to any amount and any liability to pay silver currency may

be discharged in such notes and in particular every bank note lawfully issued





shall be deemed to be the currency of the Colony for the purpose of any
promise to pay printed on such note.
(54 of 1935 s. 3 incorporated.Amended 20 of 1948 s. 4)





5.Bank notes bearing the name 'The Hongkong
and Shanghai Banking Corporation' deemed to
he bank notes lawfully issued, etc.

Any bank notes bearing the name 'The Hongkong and Shanghai Banking
Corporation' shall

(a)in the case of such bank notes lawfully issued before 6 October 1989
by The Hongkong and Shanghai Banking Corporation

(i) not be affected by the change of title specified in the Declaration
of Change of Title (The Hongkong and Shanghai Banking
Corporation) Notice 1989 (L.N. 333 of 1989); and

(ii) be treated for all purposes as bank notes lawfully issued by The
Hongkong and Shanghai Banking Corporation Limited and legal
tender for the purposes of section 3;

(b)in the case of such bank notes issued on or after 6 October 1989 by
The Hongkong and Shanghai Banking Corporation Limited, be
treated for all purposes as bank notes lawfully issued and legal tender
for the purposes of section 3; and

(c)in the case of such bank notes referred to in paragraph (a) or (b), be
treated for the purposes of section 14 of The Hongkong and
Shanghai Banking Corporation Limited Ordinance (Cap. 70) as if that
name were 'The Hongkong and Shanghai Banking Corporation
Limited'.

(Added 63 of 1989 s. 2)

SA.Section 93 of the Companies Ordinance (Cap. 32) not
to apply to bank notes issued by a note-issuing bank

The provisions of section 93 of the Companies Ordinance (Cap. 32) shall not
apply to bank notes issued by a note-issuing bank.

(Added 63 of 1989 s. 2)

6. Saving

Nothing in this Ordinance shall affect or be deemed to affect the rights of Her
Majesty the Queen, Her Heirs or Successors, or the rights of any body politic or
corporate or of any other persons except such as are mentioned in this Ordinance
and those claiming by, from or under them.

(21 of 1939 s. 4 incorporated)

https://oelawhk.lib.hku.hk/items/show/2371

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