Hong Kong Regulations

DRUG TRAFFICKING (RECOVERY OF PROCEEDS) (DESIGNATED COUNTRIES AND TERRITORIES) ORDER - PARAGRAPH 8

Currency conversion

(Past version on 30/06/1997).

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) (Enacted 1991)