[Note: this transcription was produced by an automatic OCR engine]

Joint Regulationr [17 I7! 1941

395



In this paragraph the expression “transfer” includes, in relation
to any security, Lmnsfer by way of loan or security, and the expres-
sion “murity” includes a deposit reeeipt in respect cf tbe deposit of
securifies, a unit or sub-unit of n unit trust and coupon representing
dividends or imerest and a life or endowment assurance policy.

(3) When an individuel luis at any time sinee the fifth dny of
September, 1939, resided in the Ncw Hebrides—

(a) until the Resident Commissioners DLherwise direct, he shall
be trented, for Lhe purposes of this Article and of any 0rder
providing for exemptions frcm any ofthe provisions thereof,
as having been, and as still being, resident in the New
Hem-ides and not residem outside tbe sterling ares; and
if any suc]: direction is given, the Resident Commissioners
may, by Lhe saine cr a subsequent direction, dcclare the
territory in which, l'or those purposes, he is to be trested a:
being resident, and any direction given under Lllis parn-
graph mny he eilher general or special and may be revoked
or varied by a snbsequent direction thereunder.

(4) Nothing in this Article shnll restrict the doing by a perwn

authorized by or on behalf of the Resident Commissioners of any—
thing within the soupe cf bis authority.

(b)

7. (1) Every persou resident in the New Hem-ides who at
the date on whieh this Regulation oomes inm operation is, or nfler
chat date becomes, entitled w son, or 1.0 procure the sale of, any
foreign currency, to whieh this Article applies, acquired by sale oi‘
exponed soods, or in any other manner whether before or afier tln's
Regulaîjon cornes inw l‘orne, t0 which this Article applies, shall ofi'er
il or cause it to be ofi'ered for sale to the Resident Ccmmissioners or
t0 a persan, Government or bank designated by lhern by 0rder for
the purposes cf this Article.

(2) Where a person has become bound nnder paragraph (l)
of this Article to ofl'e‘r, or cause to be ofi'ered, any foreign currency
for sale and bas not donc sa, the Resident Commissioners my by
Order direct dm that currency shall vest in the Resident Commis-
sioners or in any persan, Government cr ban]: designated by them
and thereupon it shall vest aocordingly free from any mortgage,
pledge or charge, and Lhe Resident Commissianers or the perron1
Govermnent or bank aforesaid may deal or cause to deal with the
ssid currency as they think fit, but shall puy, or cause to puy. to me
person who would but for tbe direction be enfifled tu possession o!"
the said currency such prioe in respect thereof as may bu npproved
by the Resident Commissioners or the person, Government or bank
as aforesaid.

(3) Every persan resident in Lhe New Hebrides who, at the
date on which this Regulation cames into operntion. is, or site: that
date becomes, entitled m assign or to promue the assignment of any
right to receive outside the New Hebrides, in respect of any credit or

ANIMER-I
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