Hong Kong Regulations

UNITED NATIONS SANCTIONS (IRAQ) (CONTROL OF GOLD, SECURITIES, PAYMENTS AND CREDITS) REGULATION - SECT 1

Control of gold, securities, payments and credits

(1) Except with permission granted by or on behalf of the Financial Secretary,
no direction given by or on behalf of the Government of the Republic of Iraq,
or by or on behalf of any person resident in the Republic of Iraq at the time
of the commencement of this Regulation or at any later time while this
Regulation is in force shall be carried out insofar as the direction-

   (a)  requires the person to whom the direction is given to make any payment
        or part with any gold or securities; or

   (b)  requires any change to be made in the persons to whose credit any sum
        is to stand or to whose order any gold or security is to be held.

(2) In this section-

"gold" (黃金) means gold coin or gold bullion;

"security" (證券) includes-

   (a)  shares, stocks, bonds, notes, debentures and debenture stocks;

   (b)  a deposit receipt in respect of the deposit of securities;

   (c)  a negotiable receipt or other negotiable certificate or document
        evidencing the deposit of a sum of money;

   (d)  a promissory note;

   (e)  a unit or a sub-unit of a unit trust;

   (f)  an annuity or a life insurance policy or other contract entered into
        with an assurance company for securing a payment in the future of any
        capital sums or of an annuity;

   (g)  a warrant conferring an option to acquire a security;

   (h)  a share in an oil royalty.

(3) Any permission granted by or on behalf of the Financial Secretary under
this section may be granted either absolutely or subject to conditions.

(4) No permission shall be granted under this section except with the approval
of the instructing authority given generally or in a particular case.

"gold" (黃金) means gold coin or gold bullion;

"security" (證券) includes-

(a) shares, stocks, bonds, notes, debentures and debenture stocks;

   (b)  a deposit receipt in respect of the deposit of securities;

   (c)  a negotiable receipt or other negotiable certificate or document
        evidencing the deposit of a sum of money;

   (d)  a promissory note;

   (e)  a unit or a sub-unit of a unit trust;

   (f)  an annuity or a life insurance policy or other contract entered into
        with an assurance company for securing a payment in the future of any
        capital sums or of an annuity;

   (g)  a warrant conferring an option to acquire a security;

   (h)  a share in an oil royalty.