|405A||Title:||DRUG TRAFFICKING (RECOVERY OF PROCEEDS) (DESIGNATED COUNTRIES AND TERRITORIES) ORDER||Gazette Number:||25 of 1998|
|Paragraph:||8||Heading:||Currency conversion||Version Date:||01/07/1997|
Amendments retroactively made-see 25 of 1998 s. 2
(1) Where the value of property recovered as described in paragraph 7(1) is expressed in a currency other than that of Hong Kong, the extent to which the amount payable under the confiscation order is to be reduced under that paragraph shall be calculated on the basis of the exchange rate prevailing on the date on which the property was recovered in the designated country concerned.
(2) Where an amount of money payable or remaining to be paid under an external confiscation order registered in the Court of First Instance under section 29 of the Ordinance is expressed in a currency other than that of Hong Kong, for the purpose of any action taken in relation to that order under the Ordinance as applied under paragraph 3(2) the amount shall be converted into the currency of Hong Kong on the basis of the exchange rate prevailing on the date of registration of the order. (25 of 1998 s. 2)
(3) For the purposes of this paragraph a certificate purporting to be signed by or on behalf of the Monetary Authority and stating the exchange rate prevailing on a specified date shall be admissible in any proceedings as evidence of the facts so stated. (82 of 1992 s. 45)