Contents of Section

Chapter:

65 PDFTitle:LEGAL TENDER NOTES ISSUE ORDINANCEGazette Number:
Section:5Heading:Demonetization of certain legal tender notesVersion Date:30/06/1997

(1) The Financial Secretary may from time to time demonetize any legal tender note referred to in paragraph (a)(i) of the definition of "legal tender notes".
(2) Notice of the demonetization of any legal tender note by the Financial Secretary under subsection (1) shall be published in the Gazette and the note shall cease to be legal tender in Hong Kong from the date specified in the notice.
(3) The holder of any legal tender note demonetized by the Financial Secretary under subsection (1) shall, on surrendering the note-

        (a) to the Monetary Authority appointed under section 5A of the Exchange Fund Ordinance (Cap 66); and
        (b) after the date specified in a notice published under subsection (2),
be paid from the Exchange Fund established under that Ordinance an amount in legal tender equal to the face value of the note.
(Replaced 98 of 1995 s. 4)