Hong Kong Regulations

IMPORT AND EXPORT (GENERAL) REGULATIONS - REGULATION 6DG

Registered rough diamond trader to keep daily trade record, etc.

(1) A registered rough diamond trader who carries on a business of importing,
exporting, buying or selling rough diamonds shall, in such manner and in such
form as the Director may require, keep an accurate and up-to-date record of
his daily import, export, purchase and sale of rough  diamonds. The record
must contain-

   (a)  the name of each person from or to whom the trader buys or sells the
        rough diamonds and (if that person is also a registered rough 
        diamond trader) that person's registration number;

   (b)  the amount and value of rough diamonds imported, exported, bought or
        sold; and

   (c)  such other particulars as the Director may require.

(2) A registered rough diamond trader referred to in paragraph (1) shall
retain each record kept under paragraph (1)-

   (a)  for 5 years from the day on which it is made; or

   (b)  for such shorter period as the Director may, bearing in mind
        requirements of the Scheme, specify.

(3) A registered rough diamond trader shall submit such returns or
notifications relating to the import, export, purchase and sale of rough 
diamonds as the Director may require at such intervals as the Director may
require.

(4) Neither the Director nor any other person who has access to any record
kept, or information obtained, under this regulation in the course of
exercising or performing any powers or duties shall disclose such record or
information except for the purposes of or in connection with-

   (a)  the exercise or performance of any of the powers or duties conferred
        or imposed by the Ordinance, or of any regulation made under it,
        applicable to rough diamonds;

   (b)  the Scheme or its implementation; or

   (c)  the institution of any proceedings for an offence under the Ordinance
        or any regulation made under it.

(5) A person who contravenes paragraph (1), (2) or (3) commits an offence and
is liable on conviction to a fine of $200000 and to imprisonment for 1 year.

(6) A person who contravenes paragraph (4) commits an offence and is liable on
conviction to a fine of $200000 and to imprisonment for 1 year. (Part VI added
L.N. 179 of 2002)