[Note: this transcription was produced by an automatic OCR engine]
Joint Regulutivns [l7 of 1941
401
(4) Refermoes in this Article t0 the destination of nny gonds
include referenoes to the ultimate destination thereof.
10. (l) Subjecl to such exemptions as msy be gmnted by
0rder of the Resident Commissioners it shall not be law‘l‘ul, except
with the consent of the Resident Commissioners and in accu-(lance
with such conditions as the Resident Commissioners may impose,
to make an issue of capital in file New Hebrides, to mnke, in the
New Hebrides, any public ofl'er of securities for sale, or to renew or
postpone the date of maturity of any security maturing for repoy—
ment in the New Hebrides.
(2) Subject t0 sueh exemptions as mny be granted by Order cf
the Resident Comlnissioners, it shsll not be lawful w issue any
prospectus or other document ofi'cring for subscription, or publicly
ofi'erlng for sale, any securities which does not include a statcment
thst the consent of me Resident Commissioners lus been obtained
t0 the issue or ofi'er of the securities.
(3) For the purposes of lhis Article a person shall be deemed
to make an issue of capital who—
(a) issues any securities (whether for cash or otherwise); or
(h) reoeives any money on loan on the terms or in Lhe expecto-
tion, that the lonn will or mxy be repaid wholly or partly
by the issue cf nny securities, or by the transfer of any
securities iswed after the making of Lhe loao.
(4) In this Article, reference to securities and te the issue of
secnrities respectiver include references to any mortgsge or charge,
whether legal or equitable, and w the mention of, or the increasing
cf the amount semed by, sny such mortgage or charge, and me
expression “security” includes a promissory none of a local authority
and deposit reoeipt for money lent issued by a local authority or by
any person csrrying on any business other thnn the business of
banldng.
11. (1) No persan shall import goods from any place ontside
du: sterling axes withont bains provided with an lmport Licence
issued by the Collector of Customs with Lhe spproval cf the Resident
Commissioners in respect thereof.
(2) Any persan desirous of importing gonds from the non
sterling srea shall mnke application lo the Resident Commissioner
from whom lie depends in quadruplicate in the form cf Schedule 2
harem.
(3) Should the application be npptcved in whole or in part an
import licence in tbe foi-m ol' Schedule 3 hereto will be issued. One
ccpy of tbe licence will be retained by the Collector of Customs for
subsequent verification of importés suthorised and values thereof.
on: given to nppliosnt and two will be transmitted to the Resident
Commissioners for record.
