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\qr \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid10902632 \fs20\cf1\lang2057\langfe5129\cgrid\langnp2057\langfenp5129 {\i\fs24\insrsid10902632 Repealed}{\i\fs24\insrsid10902632\charrsid10902632 
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\par }\pard \qc \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid7357904 {\b\fs24\insrsid8874310\charrsid7044787 COOK ISLANDS}{\b\fs24\insrsid4749944\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid1061264 {\b\fs24\insrsid4749944\charrsid7044787 
\par }\pard \qc \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid7357904 {\b\fs24\insrsid8874310\charrsid7044787 BANKING ACT}{\b\fs24\insrsid10841727  }{\b\fs24\insrsid3413396\charrsid10902632 1969}{
\b\fs24\insrsid7357904\charrsid10902632 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid1061264 {\b\fs24\insrsid7357904\charrsid7044787 
\par }\pard \qc \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid7357904 {\fs24\insrsid2183627\charrsid7044787 ANALYSIS}{\b\fs24\insrsid2183627\charrsid7044787 
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\par }{\fs24\insrsid10496034\charrsid7044787 Title}{\fs24\insrsid8874310\charrsid7044787 
\par }{\fs24\insrsid4749944\charrsid7044787 
\par 1. Short Title
\par 2. Interpretation}{\fs24\insrsid10496034\charrsid7044787 
\par }{\fs24\insrsid4749944\charrsid7044787 2A.}{\fs24\insrsid7044787  }{\fs24\insrsid4749944\charrsid7044787 Power of Exemption
\par }{\fs24\insrsid3413396\charrsid7044787 
\par }\pard \qc \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid7357904 {\b\fs24\insrsid4749944\charrsid7873943 PART I}{\b\fs24\insrsid15408098\charrsid7873943 
\par }{\b\fs24\insrsid4749944\charrsid7873943 LICENSING OF BANKS
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\ul\insrsid3413396\charrsid7044787 
\par }{\fs24\insrsid4749944\charrsid7044787 3. License required to conduct banking business.
\par }{\fs24\insrsid3413396\charrsid7044787 4. Application to be made to Board.
\par 5. Public interest to be considered.
\par 6. Principal office and officers to be stated.
\par 7. Amendment and revocation of license.
\par 8. Information to be supplied to Board.
\par 9. Keeping and audit of accounts.
\par 10. Powers of the Board.
\par 11. Use of the word }{\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid3413396\charrsid7044787 bank}{\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid3413396\charrsid7044787  and other words.
\par 12. Appeal.
\par 13. Saving power of Audit}{\fs24\insrsid15408098\charrsid7044787  Office to inspect accounts.}{\fs24\insrsid3413396\charrsid7044787 
\par }{\fs24\insrsid15408098\charrsid7044787 14. Mode of proof of entries in books.
\par 15. When books not compellable to be produced.
\par 16. Court or Judge may order inspection.
\par 17. Post Office Savings Bank.
\par 18. Destruction of cheques and other documents.
\par 19. Stamp duties.
\par 20. Bank not to issue bank notes.
\par 21. Sections 645 and 646 of the Cook Islands Act 1915 not to apply to Bank transactions.
\par 22. Regulations
\par 23. Repeal.
\par 
\par }\pard \qc \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid7357904 {\b\fs24\insrsid15408098\charrsid7873943 PART II}{\b\fs24\insrsid4749944\charrsid7873943 
\par }{\b\fs24\insrsid15408098\charrsid7873943 EXCHANGE CONTROL
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\par }{\fs24\insrsid15408098\charrsid7044787 24. Control of overseas exchange and other transactions.
\par }\pard \qj \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\ul\insrsid15408098\charrsid7044787 
\par }\pard \qc \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid7357904 {\fs24\insrsid1061264\charrsid5527551 -------------------------------------------}{\fs24\insrsid8152313\charrsid5527551 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\b\fs24\insrsid8152313\charrsid7044787 
\par }\pard \qc \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid7357904 {\b\fs24\insrsid12322323\charrsid7044787 No. 13 o}{\b\fs24\insrsid7683641 f 1969}{\b\fs24\insrsid15408098\charrsid7044787 
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\par }{\fs24\insrsid2183627\charrsid7044787 [In this Act, the word }{\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid2183627\charrsid7044787 Board}{\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid2183627\charrsid7044787  was s}{
\fs24\insrsid15408098\charrsid7044787 ubstituted for the word }{\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid15408098\charrsid7044787 Minister}{\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid15408098\charrsid7044787 - see Act 1981/18].

\par }{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid4483449 {\fs24\ul\insrsid2183627\charrsid7044787 An Act to regulate banking and business in the Cook Islands and matters related thereto
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid2183627\charrsid7044787 
\par }\pard \qr \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid7357904 {\i\fs24\insrsid2183627\charrsid11225525 (9 October 1969
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid5527551 {\fs24\insrsid2183627\charrsid7044787 
\par }{\b\fs24\insrsid2183627\charrsid10841727 BE IT ENACTED}{\fs24\insrsid2183627\charrsid7044787  by the Legislative Assembly of the Cook Islands in Session assembled, and by the Authority of the same, as follows:
\par 
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\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787  This Act may b}{\fs24\insrsid10817971\charrsid7044787 e cited as the Banking Act 1969.}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid5527551 {\fs24\insrsid2183627\charrsid7044787 
\par 2. }{\fs24\ul\insrsid2183627\charrsid7044787 Interpretation}{\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787  In this Act, unless the context otherwise requires, }{
\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
\par 
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}{\fs24\insrsid2183627\charrsid7044787 any person carrying on banking business;
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\fs24\insrsid2183627\charrsid7044787  means the business of banking i}{\fs24\insrsid8874310\charrsid7044787 n}{\fs24\insrsid2183627\charrsid7044787  all its customary branches and}{\fs24\insrsid8415752\charrsid7044787  departments including that of a S}{
\fs24\insrsid2183627\charrsid7044787 avin}{\fs24\insrsid8415752\charrsid7044787 g}{\fs24\insrsid2183627\charrsid7044787 s Bank and without limiting the generality of the }{\fs24\insrsid8415752\charrsid7044787 foregoing also includes borrowing,}{
\fs24\insrsid2183627\charrsid7044787  receiving or taking up money at interest or otherwise on current account, savings account, deposit}{\fs24\insrsid8415752\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
account or other account and which according and subject to arrangement is repayable on the cheque, draft, order or authority of the customer; lending or advancing money, securities and property or giving credit at int}{\fs24\insrsid2443067 
erest or otherwise with or with}{\fs24\insrsid2183627\charrsid7044787 out security to any person, compa}{\fs24\insrsid2443067 ny or corporation;}{\fs24\insrsid8415752\charrsid7044787  discounting, }{\fs24\insrsid2183627\charrsid7044787 
buying, selling and dealing in bills}{\fs24\insrsid8874310\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 of exchange, promissory notes, coupons, drafts, bill}{\fs24\insrsid8415752\charrsid7044787 s}{\fs24\insrsid2183627\charrsid7044787 
 of lading, warrants, }{\fs24\insrsid8152313\charrsid7044787 debentures, certificates script, }{\fs24\insrsid2183627\charrsid7044787 hire purchase agreements, and other instruments}{\fs24\insrsid2443067  }{\fs24\insrsid16143560\charrsid7044787 a}{
\fs24\insrsid2443067 n}{\fs24\insrsid16143560\charrsid7044787 d securities whether transfe}{\fs24\insrsid2183627\charrsid7044787 
rable or negotiable or not; granting and issuing letters of credit and circular notes; buying, selling and dealing in bullion and specie; dealing in foreign or overseas exchange; acquiring, holding, issuing on commission, underwrit
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of money or performance of con}{\fs24\insrsid8415752\charrsid7044787 tracts or obligations }{\fs24\insrsid8152313\charrsid7044787 by}{\fs24\insrsid2183627\charrsid7044787  any person, com}{\fs24\insrsid8152313\charrsid7044787 
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\fs24\insrsid16143560\charrsid7044787 e}{\fs24\insrsid2183627\charrsid7044787  custody or }{\fs24\insrsid16143560\charrsid7044787 other}{\fs24\insrsid2183627\charrsid7044787 wise; collecting and transmitting money and securities; managing property an}{
\fs24\insrsid8152313\charrsid7044787 d transacting all kinds of agency}{\fs24\insrsid2183627\charrsid7044787 , business commonl}{\fs24\insrsid8152313\charrsid7044787 y transacted by bankers; carrying on }{\fs24\insrsid2183627\charrsid7044787 
such other business outside the customary scope of its business of banking as the }{\fs24\insrsid16143560\charrsid7044787 B}{\fs24\insrsid2183627\charrsid7044787 oard may from tine}{\fs24\insrsid16143560\charrsid7044787  to time authorise or approve;}{
\fs24\insrsid2183627\charrsid7044787 
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\fs24\insrsid2183627\charrsid7044787  means negotiable instruments used or circulated or intended for}{\fs24\insrsid2573190  use or circulation as currency;}{\fs24\insrsid2183627\charrsid7044787 
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\fs24\insrsid8152313\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 means the High Court of the Cook Islands and }{\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid2183627\charrsid7044787 Judge}{\fs24\insrsid12322323\charrsid7044787 "}{
\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid2573190 means a Judge of the High Court;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid12322323 {\fs24\insrsid16143560\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid12322323 {\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid8152313\charrsid7044787 Legal proceedings}{\fs24\insrsid12322323\charrsid7044787 "}{
\fs24\insrsid2183627\charrsid7044787  means any civil or criminal proceeding or inquiry in which evidence is or may be}{\fs24\insrsid16143560\charrsid7044787  given and includes arbitration;
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid12322323 {\fs24\insrsid16143560\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid12322323 {\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid8152313\charrsid7044787 Officer}{\fs24\insrsid12322323\charrsid7044787 "}{
\fs24\insrsid2183627\charrsid7044787  in relation to a bank includes manager accountant and cashier of th}{\fs24\insrsid16143560\charrsid7044787 e bank or of any branch thereof;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid12322323 {\fs24\insrsid16143560\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid12322323 {\fs24\insrsid8152313\charrsid7044787 [}{\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid8152313\charrsid7044787 Board}{
\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid2183627\charrsid7044787  means th}{\fs24\insrsid2573190 e Cook Islands Monetary Board;}{\fs24\insrsid2183627\charrsid7044787 ]
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid12322323 {\fs24\insrsid16143560\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid12322323 {\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid8152313\charrsid7044787 Person}{\fs24\insrsid12322323\charrsid7044787 "}{
\fs24\insrsid2183627\charrsid7044787  includes any }{\fs24\insrsid16143560\charrsid7044787 bod}{\fs24\insrsid2183627\charrsid7044787 y or persons whether corporate or }{\fs24\insrsid2573190 unincorporate}{\fs24\insrsid2183627\charrsid7044787 
 and any company corporation or society incorporated or which may hereafter be incorporated in the Cook Islands}{\fs24\insrsid16143560\charrsid7044787 ;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid12322323 {\fs24\insrsid16143560\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid12322323 {\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid8152313\charrsid7044787 Prescribed}{\fs24\insrsid12322323\charrsid7044787 "}{
\fs24\insrsid2183627\charrsid7044787  means prescribed by regulations made under this Act.
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid12322323 {\fs24\insrsid1251473\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid12322323 {\i\fs24\insrsid1251473\charrsid11225525 [Amended A}{\i\fs24\insrsid2183627\charrsid11225525 ct 1981/18]
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid12322323 {\fs24\insrsid16143560\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 2A. }{\fs24\ul\insrsid2183627\charrsid7044787 Power of Exemption}{\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
 (1) The Cook Islands Monetary Board may, under its own moti
on or pursuant to an application in writing lodged with the Secretary by a Bank, exempt that Bank from all or any of the provisions of this Act and any regulations made under this Act and may impose such terms and conditions as it thinks fit as a conditio
n under which that exemption is granted. An exemption so granted may be revoked or varied by the Board at any time.
\par }{\fs24\insrsid16143560\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (2) In dealing with an application under this section, the Board shall not be required to act }{\fs24\insrsid16143560\charrsid7044787 j}{\fs24\insrsid2183627\charrsid7044787 udicially and its decisi}{
\fs24\insrsid4483449\charrsid7044787 on shall in all cases be final.}{\fs24\insrsid2183627\charrsid7044787 
\par }{\fs24\insrsid16143560\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (3) Any exemption or condition imposed pursuant to subsection 1 of this section, shall take effect as from the date to be decided by the Monetary Board in its discretion.
\par }{\fs24\insrsid16143560\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (4) Notwithstanding anything contained in subsection (1) of this section the Board shall not exempt any Bank unless the business to be carried on by that Bank relates}{\fs24\insrsid16143560\charrsid7044787  }{
\fs24\insrsid2183627\charrsid7044787 solely to the extending of a loan to the Crown.
\par }{\fs24\insrsid16143560\charrsid7044787 
\par }\pard \qc \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid7357904 {\b\fs24\insrsid2183627\charrsid7873943 PART I
\par L}{\b\fs24\insrsid1251473\charrsid7873943 ICENSING OF BANKS}{\b\fs24\insrsid2183627\charrsid7873943 
\par }\pard \ql \li0\ri4\widctlpar\tx5472\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid12322323 {\fs24\insrsid16143560\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 3. }{\fs24\ul\insrsid2183627\charrsid7044787 Licence re}{\fs24\ul\insrsid1251473\charrsid7044787 qu}{\fs24\ul\insrsid2183627\charrsid7044787 ired to conduct banking business}{\fs24\insrsid2183627\charrsid7044787  }{
\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787  (1) No banking business shal}{\fs24\insrsid16143560\charrsid7044787 l}{\fs24\insrsid2183627\charrsid7044787  be transacted in t}{\fs24\insrsid16143560\charrsid7044787 h}{
\fs24\insrsid2183627\charrsid7044787 e Coo}{\fs24\insrsid16143560\charrsid7044787 k}{\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid16143560\charrsid7044787 Isl}{\fs24\insrsid2183627\charrsid7044787 ands whether or}{
\fs24\insrsid1251473\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 not such business is carried on in the Cook Islands except by}{\fs24\insrsid16143560\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 a person who is}{
\fs24\insrsid16143560\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 in possession of}{\fs24\insrsid16143560\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 a licence issued by the Board authori}{\fs24\insrsid16143560\charrsid7044787 s}{
\fs24\insrsid2183627\charrsid7044787 in}{\fs24\insrsid16143560\charrsid7044787 g}{\fs24\insrsid2183627\charrsid7044787  such person to carry on such business.
\par }{\fs24\insrsid16143560\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid12322323 {\fs24\insrsid12260222\charrsid7044787 (2) }{\fs24\insrsid2183627\charrsid7044787 Every person who contravenes}{\fs24\insrsid16143560\charrsid7044787  }{
\fs24\insrsid2183627\charrsid7044787 the provisions of this sectio}{\fs24\insrsid16143560\charrsid7044787 n }{\fs24\insrsid2183627\charrsid7044787 shall be guilty of an offence and liable on conviction}{\fs24\insrsid16143560\charrsid7044787  }{
\fs24\insrsid2183627\charrsid7044787 to a fine not exceeding two thou}{\fs24\insrsid16143560\charrsid7044787 s}{\fs24\insrsid2183627\charrsid7044787 and doll}{\fs24\insrsid16143560\charrsid7044787 a}{\fs24\insrsid2183627\charrsid7044787 
rs or to a term of imprisonment not exceeding one year or to both such fine and imprisonment and in the case of a continui}{\fs24\insrsid16143560\charrsid7044787 n}{\fs24\insrsid2183627\charrsid7044787 
g offence to an additional fine not exceeding two hundred dollars for each day during which the offence continues.
\par }{\fs24\insrsid16143560\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\tx576\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid12322323 {\fs24\insrsid16143560\charrsid7044787 4}{\fs24\insrsid2183627\charrsid7044787 .}{\fs24\insrsid16143560\charrsid7044787  }{
\fs24\ul\insrsid2183627\charrsid7044787 Application to be made to Board}{\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
 Any person desirous of carrying on banking business in the Cook Islands shall make application to the Board for a licence so to do. Every such application shall}{\fs24\insrsid16143560\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
be in writing and shall be accompanied by such references information and particulars as shall
 be prescribed and the Board may if satisfied that the carrying on of such business by the applicant will not be against the public interest issue a licence subject to such terms and conditions as the Board may deem necessary or advisable.
\par }{\fs24\insrsid16143560\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 5.}{\fs24\insrsid16143560\charrsid7044787  }{\fs24\ul\insrsid2183627\charrsid7044787 Public interest to be considered}{\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid4749944\charrsid7044787 -}{
\fs24\insrsid2183627\charrsid7044787  (1) Whenever it considers it to be in the public interest so to do the Board may refuse to grant a licence.
\par }{\fs24\insrsid16143560\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid12322323 {\fs24\insrsid7357904\charrsid7044787 (2) [Spent]}{\fs24\insrsid2183627\charrsid7044787 
\par }{\fs24\insrsid16143560\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\tx4464\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid2183627\charrsid7044787 6. }{\fs24\ul\insrsid2183627\charrsid7044787 Principal office and officers to be stated}{
\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787  (1) A licence shall not }{\fs24\insrsid15876710\charrsid7044787 b}{\fs24\insrsid2183627\charrsid7044787 e granted to any b}{
\fs24\insrsid15876710\charrsid7044787 ank }{\fs24\insrsid2183627\charrsid7044787 having its head office or its registered office outside the Cook Islands unless such bank designat}{\fs24\insrsid15876710\charrsid7044787 es and notifies to the Board }{
\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
\par }{\fs24\insrsid15876710\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid4483449 {\fs24\insrsid2183627\charrsid7044787 (a) a principal office in the Cook Islands}{\fs24\insrsid15876710\charrsid7044787 ;}{
\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid12322323 {\fs24\insrsid15876710\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid4483449 {\fs24\insrsid2183627\charrsid7044787 (b) by name one of its officers who is to be the authorised agent of the bank in the Cook Islands}{
\fs24\insrsid15876710\charrsid7044787 ;}{\fs24\insrsid2183627\charrsid7044787  and
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid12322323 {\fs24\insrsid15876710\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid4483449 {\fs24\insrsid2183627\charrsid7044787 
(c) by name another of its officers who in the absence or inability to act of the officer named under paragraph (b) of this subsection is to be the authorised agent of the bank in the Cook Islands.
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid15876710\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\tx4464\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid2183627\charrsid7044787 (2) It shall be a con}{\fs24\insrsid4483449\charrsid7044787 dition of every licence granted}{
\fs24\insrsid2183627\charrsid7044787  to a bank to which subsection}{\fs24\insrsid12260222\charrsid7044787  (1) of this section applies tha}{\fs24\insrsid2183627\charrsid7044787 t the bank shall forthwith notify the Board}{
\fs24\insrsid12260222\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 in writing of any change of }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
\par }{\fs24\insrsid15876710\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid4483449 {\fs24\insrsid2183627\charrsid7044787 (a) its principal office in the Cook Islands}{\fs24\insrsid12260222\charrsid7044787 ;}{
\fs24\insrsid2183627\charrsid7044787  or}{\fs24\insrsid12260222\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid12322323 {\fs24\insrsid12260222\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid4483449 {\fs24\insrsid2183627\charrsid7044787 (b) either or both the officers designated pursuant to paragraphs (b) or (c) of subsection (1) of this section.

\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid12260222\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 7. }{\fs24\ul\insrsid2183627\charrsid7044787 Amendment and revocation of licence}{\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787  (1) The Board}{
\fs24\insrsid12260222\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 may amend add to or vary any}{\fs24\insrsid15756221  licence at any time and from ti}{\fs24\insrsid2183627\charrsid7044787 me to time.
\par }{\fs24\insrsid12260222\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\tx1872\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid7357904 {\fs24\insrsid2183627\charrsid7044787 (2) The Board}{\fs24\insrsid12260222\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
may revoke any licence }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\tx1872\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid12260222\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid7357904 {\fs24\insrsid2183627\charrsid7044787 (a) if the bank has ceased to carry on banking business}{\fs24\insrsid13330801\charrsid7044787 ;}{
\fs24\insrsid2183627\charrsid7044787  or
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid15756221 {\fs24\insrsid13330801\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid7357904 {\fs24\insrsid2183627\charrsid7044787 (b) if the bank goes into liquidation or is wound up or otherwise dissolved except for the purposes of am}{
\fs24\insrsid13330801\charrsid7044787 algamation or reconstruction; or}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid15756221 {\fs24\insrsid13330801\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid7357904 {\fs24\insrsid2183627\charrsid7044787 (c) in the circumstances and in the manner provided for in section 10 of this Act.
\par }\pard \ql \li0\ri4\widctlpar\tx1152\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid13330801\charrsid7044787 
\par 8. }{\fs24\ul\insrsid13330801\charrsid7044787 I}{\fs24\ul\insrsid2183627\charrsid7044787 nformation to be supplied to Board}{\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
 It shall be a term of any licence pursuant to this Act that the licensee shall furnish to the Board such information and particulars in relation to the licensee}{\fs24\insrsid12322323\charrsid7044787 '}{\fs24\insrsid2183627\charrsid7044787 
s banking business as the Board shall}{\fs24\insrsid13330801\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 require and at such times as may be prescribed provided that nothing in this section shall authorise the Board}{
\fs24\insrsid13330801\charrsid7044787  }{\fs24\insrsid4483449\charrsid7044787 to require }{\fs24\insrsid13707885 the licensee to disclose any information which in accordance }{\fs24\insrsid4483449\charrsid7044787 with accepted banking practice }{
\fs24\insrsid2183627\charrsid7044787 a banker is not obliged to di}{\fs24\insrsid13330801\charrsid7044787 s}{\fs24\insrsid2183627\charrsid7044787 close without the consent of the customer concerned.
\par }{\fs24\insrsid13330801\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid13330801\charrsid7044787 9. }{\fs24\ul\insrsid13330801\charrsid7044787 K}{\fs24\ul\insrsid2183627\charrsid7044787 ee}{
\fs24\ul\insrsid13330801\charrsid7044787 p}{\fs24\ul\insrsid2183627\charrsid7044787 in}{\fs24\ul\insrsid13330801\charrsid7044787 g}{\fs24\ul\insrsid2183627\charrsid7044787  and audit of accounts}{\fs24\insrsid2183627\charrsid7044787  }{
\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787  (1) Every licensee shall cause }{\fs24\insrsid9315550 f}{\fs24\insrsid2183627\charrsid7044787 u}{\fs24\insrsid9315550 ll}{\fs24\insrsid2183627\charrsid7044787  an}{
\fs24\insrsid9315550 d}{\fs24\insrsid2183627\charrsid7044787  faith}{\fs24\insrsid11208436\charrsid7044787 ful accounts to be kept of all m}{\fs24\insrsid2183627\charrsid7044787 on}{\fs24\insrsid11208436\charrsid7044787 e}{\fs24\insrsid9315550 y}{
\fs24\insrsid2183627\charrsid7044787  received and disbursed and of all assets and liabilities and o}{\fs24\insrsid11208436\charrsid7044787 f}{\fs24\insrsid13330801\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
all profits and losses in respect of the operations of the licensee within or from the Cook Islands.
\par }{\fs24\insrsid13330801\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid7357904 {\fs24\insrsid2183627\charrsid7044787 (2) An annual balance sheet and statement of accounts }{\fs24\insrsid9315550 of}{\fs24\insrsid2183627\charrsid7044787 
 the licensee in respect of its business in the Cook Islands }{\fs24\insrsid11208436\charrsid7044787 sha}{\fs24\insrsid2183627\charrsid7044787 ll be audited by an auditor who shall be a member of the New Zea}{\fs24\insrsid11208436\charrsid7044787 land }{
\fs24\insrsid2183627\charrsid7044787 Society of Accountants and shall }{\fs24\insrsid3149573\charrsid7044787 be certified by such auditor and}{\fs24\insrsid2183627\charrsid7044787  transmitted to the Board not later than three months after }{
\fs24\insrsid11208436\charrsid7044787 the}{\fs24\insrsid2183627\charrsid7044787  end of each financial year of the licensee.
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid11208436\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\tx1152\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid2183627\charrsid7044787 10.}{\fs24\insrsid11208436\charrsid7044787  }{\fs24\ul\insrsid2183627\charrsid7044787 Powers of the Board}{
\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
 If in the opinion of the Board a licensee is carrying on its business in the Cook Islands in contravention of the provisions of this or any other Act or of any Order licence or regulation made under this Act the 
Board may from time to time as may to it seem necessary require the licensee forthwith to take such steps as it may require to rectify the matter or may make an order revoking the licence of such licensee and requiring its business in the Cook Islands to 
be wound up.
\par }{\fs24\insrsid11208436\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid2183627\charrsid7044787 11. }{\fs24\ul\insrsid11208436\charrsid7044787 Use of the word }{\fs24\ul\insrsid12322323\charrsid7044787 "}{
\fs24\ul\insrsid11208436\charrsid7044787 bank}{\fs24\ul\insrsid12322323\charrsid7044787 "}{\fs24\ul\insrsid2183627\charrsid7044787  and other words}{\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid4749944\charrsid7044787 -}{
\fs24\insrsid2183627\charrsid7044787  (1) Except with the approval of the Board no per}{\fs24\insrsid3149573\charrsid7044787 son other than a licensee shall-}{\fs24\insrsid2183627\charrsid7044787 
\par }{\fs24\insrsid11208436\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid3149573 {\fs24\insrsid2183627\charrsid7044787 (a) use or continue to use the words }{\fs24\insrsid12322323\charrsid7044787 "}{
\fs24\insrsid2183627\charrsid7044787 bank}{\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid2183627\charrsid7044787 , }{\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid2183627\charrsid7044787 savings}{\fs24\insrsid12322323\charrsid7044787 "}{
\fs24\insrsid2183627\charrsid7044787  or }{\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid2183627\charrsid7044787 savings and loan}{\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid2183627\charrsid7044787 
 or any of their derivatives either in English or Maori or any other language in the description or title under which such person is carrying on business from or within the Cook Islands}{\fs24\insrsid11208436\charrsid7044787 ;}{
\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid3163182 {\fs24\insrsid11208436\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid3149573 {\fs24\insrsid2183627\charrsid7044787 (b) make or continue to make any representation in any billhead letter letterhead circular paper notice adve
rtisement or in any other manner whatsoever that such person }{\fs24\insrsid11208436\charrsid7044787 is carrying on banking business;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid3163182 {\fs24\insrsid11208436\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid3149573 {\fs24\insrsid2183627\charrsid7044787 (c) in any manner whatsoever solicit or receive deposits fro}{\fs24\insrsid11208436\charrsid7044787 m}{
\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid11208436\charrsid7044787 t}{\fs24\insrsid2183627\charrsid7044787 he}{\fs24\insrsid11208436\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 public.
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid11208436\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (2) Before giving its approval under subsection (1) of this section the Board may require of any person such references and such other information and particulars as may be prescribed.
\par }{\fs24\insrsid11208436\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (3) Whenever it considers it to be in the public interest the Board may withdraw any approval given under subsection (1) of this section.
\par }{\fs24\insrsid11208436\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\tx1152\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid2183627\charrsid7044787 
(4)The Board may refuse to grant a licence to a bank or if such bank is already in possession of a licence it may revoke such licence if in its opinion such bank is carrying on or intending to carry on banking 
business as the case may be under a name which }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid3149573 {\fs24\insrsid2183627\charrsid7044787 
(a) is identical with that of any other person, firm or business house whether within the Cook Islands or not or which so nearly resembles that name as to be calcula}{\fs24\insrsid11208436\charrsid7044787 ted to deceive;}{
\fs24\insrsid2183627\charrsid7044787  or
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid3163182 {\fs24\insrsid11208436\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid3149573 {\fs24\insrsid11208436\charrsid7044787 (b) is calculated to sugg}{\fs24\insrsid2183627\charrsid7044787 est falsely the patronage of or connection}{
\fs24\insrsid11208436\charrsid7044787  with some person in authority}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid11208436\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (5) Every person who contravenes the provisions of this section shall be guilty of an offence against this Act end shall be liable on conviction to a fine not exceeding two thousand}{
\fs24\insrsid11208436\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
dollars or to a term of imprisonment not exceeding one year or to both such fine and imprisonment and in the case of a continuing offence to an additional fine not exceeding two hundred dollars for each day during which the offence continues.
\par }{\fs24\insrsid11208436\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 12. }{\fs24\ul\insrsid2183627\charrsid7044787 Appeal}{\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
 (1) An appeal shall lie to the Court from any decision of the Board }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
\par }{\fs24\insrsid11208436\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid16018052 {\fs24\insrsid2183627\charrsid7044787 (a) Amending, adding to or varying any licence pursuant to secti}{\fs24\insrsid10840512\charrsid7044787 
on 7 subsection (1) of this Act;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid3163182 {\fs24\insrsid11208436\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid16018052 {\fs24\insrsid2183627\charrsid7044787 (b) Revoking a licence pursuant to subsection (2) of section 7, secti}{\fs24\insrsid10840512\charrsid7044787 on}{
\fs24\insrsid3163182  }{\fs24\insrsid10840512\charrsid7044787 10 or section 11 of this Act;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid3163182 {\fs24\insrsid11208436\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid16018052 {\fs24\insrsid2183627\charrsid7044787 (c) Withdrawing any approval under section 11 subsection (3) of this Act}{\fs24\insrsid10840512\charrsid7044787 ;}{
\fs24\insrsid2183627\charrsid7044787  or
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid3163182 {\fs24\insrsid11208436\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid16018052 {\fs24\insrsid11208436\charrsid7044787 (d) Requiring a }{\fs24\insrsid2183627\charrsid7044787 
licensee to take certain steps which the Board may specify under section 10 of this}{\fs24\insrsid11208436\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 Act.
\par }\pard \ql \li0\ri4\widctlpar\tx1440\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid11208436\charrsid7044787 
\par }{\fs24\cf0\insrsid2183627\charrsid7044787 (2) An appeal against the decision of the Board shall be on motion.}{\fs24\cf0\insrsid11208436\charrsid7044787  }{\fs24\cf0\insrsid2183627\charrsid7044787 The appellant within twenty}{
\fs24\cf0\insrsid4749944\charrsid7044787 -}{\fs24\cf0\insrsid2183627\charrsid7044787 one days after the day on which the Board has given its decision shall serve on the}{\fs24\cf0\insrsid11208436\charrsid7044787  }{
\fs24\cf0\insrsid2183627\charrsid7044787 Advocate General a notice in writing signed by the appellant or his counsel or Attorney of his intention to appeal and of the grounds of the appeal:
\par }{\fs24\cf0\insrsid11208436\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\cf0\insrsid2183627\charrsid7044787 
Provided that any person aggrieved by the decision of the Board may upon notice to the Advocate General apply to the Court for leave to extend the time within which the notice of appeal prescribed by this }{\fs24\cf0\insrsid3163182 
section may be served, and the C}{\fs24\cf0\insrsid2183627\charrsid7044787 ourt upon hearing of such application may extend the time prescribed by this section as it deems fit.
\par }{\fs24\insrsid11208436\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (3) The Advocate General shall upon receiving the notice of appeal transmit to the Registrar of the Court without delay a copy of the Board}{\fs24\insrsid12322323\charrsid7044787 '}{
\fs24\insrsid2183627\charrsid7044787 s decision and all papers relating to the appeal:
\par }{\fs24\insrsid11208436\charrsid7044787 
\par P}{\fs24\insrsid2183627\charrsid7044787 rovi}{\fs24\insrsid11208436\charrsid7044787 d}{\fs24\insrsid2183627\charrsid7044787 e}{\fs24\insrsid11208436\charrsid7044787 d}{\fs24\insrsid2183627\charrsid7044787  t}{\fs24\insrsid11208436\charrsid7044787 
hat the Advocate G}{\fs24\insrsid2183627\charrsid7044787 enera}{\fs24\insrsid11208436\charrsid7044787 l sh}{\fs24\insrsid2183627\charrsid7044787 a}{\fs24\insrsid11208436\charrsid7044787 l}{\fs24\insrsid2183627\charrsid7044787 
l not be compelled to disclose any information if he considers that the public interest would suffer by such disclosure.
\par }{\fs24\insrsid10840512\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (4) The Registrar shall set the appeal down for argument on such day, and shall cause notice of the same to be published in such manner, as the Court may direct.
\par }{\fs24\insrsid10840512\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (5) At the hearing of}{\fs24\insrsid10840512\charrsid7044787  the appeal the appellant shall,}{\fs24\insrsid2183627\charrsid7044787 
 before going into the case, state all the grounds of appeal on which he intends to rely and shall not, unless by leave of the Court, go into any matters not raised by such statement.
\par }{\fs24\insrsid10840512\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (6) The Court may adjourn the hearing of the appeal and may upon hearing thereof confirm, reverse, vary or modify the decision of the Board or remit the matter with the opinion of the Court thereon to the Board.

\par }{\fs24\insrsid10840512\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (7) An appeal against a decision of the Board shall not have the effect of suspending the execution of such decision unless the Minister or the Court on application so directs.
\par }{\fs24\insrsid10840512\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (8) Any notice required to be given to the Advocate General pursuant to this section shall be sufficiently given if delivered to the office of the Advocate General at Rarotonga}{\fs24\insrsid10840512\charrsid7044787 
.
\par 
\par }{\fs24\insrsid2183627\charrsid7044787 13. }{\fs24\ul\insrsid2183627\charrsid7044787 Savin}{\fs24\ul\insrsid10840512\charrsid7044787 g}{\fs24\ul\insrsid2183627\charrsid7044787  power of Audit }{\fs24\ul\insrsid10840512\charrsid7044787 O}{
\fs24\ul\insrsid2183627\charrsid7044787 ffice to inspect accounts}{\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787  Nothing herein shall limit the power of the Auditor of t}{
\fs24\insrsid10840512\charrsid7044787 h}{\fs24\insrsid2183627\charrsid7044787 e Cook Islands Government Account under the authority of any Ac}{\fs24\insrsid8157538\charrsid7044787 t}{\fs24\insrsid2183627\charrsid7044787  for}{
\fs24\insrsid8157538\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 the time bein}{\fs24\insrsid8157538\charrsid7044787 g}{\fs24\insrsid2183627\charrsid7044787  in force relating to the public revenues }{\fs24\insrsid8157538\charrsid7044787 o}{
\fs24\insrsid2183627\charrsid7044787 f the Cook Islands to inspect the account of a private person in any bank if t}{\fs24\insrsid8157538\charrsid7044787 he Auditor declare}{\fs24\insrsid2183627\charrsid7044787 s that he ha}{
\fs24\insrsid5646626\charrsid7044787 s}{\fs24\insrsid2183627\charrsid7044787  reason to believe and}{\fs24\insrsid8157538\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
does believe that money the property of Her Majesty or of the Government of the Cook Islands or of any public body whose accounts he is by law }{\field\fldedit{\*\fldinst {\fs24\cf0\insrsid2183627\charrsid7044787  HYPERLINK http://required.to }{
\fs24\cf0\insrsid9715873\charrsid7044787 {\*\datafield 00d0c9ea79f9bace118c8200aa004ba90b0200000003000000e0c9ea79f9bace118c8200aa004ba90b2800000068007400740070003a002f002f00720065007100750069007200650064002e0074006f002f0000001200003c00}}}{\fldrslt {
\fs24\cf0\insrsid2183627\charrsid7044787 require}{\fs24\cf0\insrsid8157538\charrsid7044787 d}{\fs24\cf0\insrsid2183627\charrsid7044787  to}}}{\fs24\insrsid8157538\charrsid7044787  audit have been fraudulently}{\fs24\insrsid2183627\charrsid7044787 
 or wrongfully paid into the private account of such person.
\par }{\fs24\insrsid8157538\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\tx1872\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid2183627\charrsid7044787 14. }{\fs24\ul\insrsid2183627\charrsid7044787 Mode of }{\fs24\ul\insrsid5646626\charrsid7044787 p}{
\fs24\ul\insrsid2183627\charrsid7044787 roof of entries in books}{\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787  (1) Subject to }{\fs24\insrsid5646626\charrsid7044787 the provisions of
}{\fs24\insrsid2183627\charrsid7044787  section, a copy o}{\fs24\insrsid5646626\charrsid7044787 f}{\fs24\insrsid2183627\charrsid7044787  any entry in the books }{\fs24\insrsid3163182 of}{\fs24\insrsid2183627\charrsid7044787  a bank shall in all legal}{
\fs24\insrsid5646626\charrsid7044787  proceedings be received as prim}{\fs24\insrsid2183627\charrsid7044787 a fa}{\fs24\insrsid5646626\charrsid7044787 c}{\fs24\insrsid2183627\charrsid7044787 i}{\fs24\insrsid5646626\charrsid7044787 e }{
\fs24\insrsid2183627\charrsid7044787 evidence of such entry, and of the matters, transactions, and accounts therein recorded.
\par }{\fs24\insrsid5646626\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid2183627\charrsid7044787 (2) Such copy shall }{\fs24\insrsid3163182 not be received in evidence under}{\fs24\insrsid2183627\charrsid7044787 
 this Act unless it is first proved }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
\par }{\fs24\insrsid5646626\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid16018052 {\fs24\insrsid2183627\charrsid7044787 
(a) that the book was at the time of the making of the entry one of the ordinary books of the bank, and that the entry was made in the}{\fs24\insrsid5646626\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 usual and ordinary course}{
\fs24\insrsid5646626\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 of business, and that the book is in the custody or control of the bank; which proof may be given either orally or by affi}{\fs24\insrsid5646626\charrsid7044787 
davit by an officer of the bank;}{\fs24\insrsid2183627\charrsid7044787  and
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid3163182 {\fs24\insrsid5646626\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid16018052 {\fs24\insrsid2183627\charrsid7044787 
(b) that the copy has been examined with the original entry and is correct; which proof shall be given either orally or by affidavit}{\fs24\insrsid5646626\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
by some person who has examined the copy with the original entry.
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid5646626\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid16018052 {\fs24\insrsid2183627\charrsid7044787 (3) Any affidavit for }{\fs24\insrsid16018052\charrsid7044787 the purposes of this section may}{
\fs24\insrsid2183627\charrsid7044787  be sworn before any person authorised to take affidavits.
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid5646626\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 15. }{\fs24\ul\insrsid2183627\charrsid7044787 When books not com}{\fs24\ul\insrsid5646626\charrsid7044787 p}{\fs24\ul\insrsid2183627\charrsid7044787 ellable to be produced}{\fs24\insrsid2183627\charrsid7044787  }{
\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid5646626\charrsid7044787 An office}{\fs24\insrsid2183627\charrsid7044787 r of a bank s}{\fs24\insrsid5646626\charrsid7044787 h}{
\fs24\insrsid2183627\charrsid7044787 a}{\fs24\insrsid5646626\charrsid7044787 l}{\fs24\insrsid2183627\charrsid7044787 l not, in any legal proceedings }{\fs24\insrsid3344476\charrsid7044787 t}{\fs24\insrsid2183627\charrsid7044787 o which the}{
\fs24\insrsid3344476\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 ba}{\fs24\insrsid3344476\charrsid7044787 nk}{\fs24\insrsid2183627\charrsid7044787  is not a party, be compellable either to produce any book of th}{\fs24\insrsid3163182 e}{
\fs24\insrsid5646626\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
bank the contents of which can be proved as aforesaid, or to appear as witness to prove the matters, transactions, and accounts therein recorded, unless by order of a Judge made for special cause.
\par }{\fs24\insrsid3344476\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 16. }{\fs24\ul\insrsid2183627\charrsid7044787 Court or Judge}{\fs24\ul\insrsid3163182  }{\fs24\ul\insrsid2183627\charrsid7044787 may order inspection}{\fs24\insrsid2183627\charrsid7044787  }{
\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787  (1) On the a}{\fs24\insrsid16018052\charrsid7044787 pplication of any party to a legal}{\fs24\insrsid2183627\charrsid7044787 
 proceeding a Court or Judge may, on summons, order that such party be at liberty to inspe}{\fs24\insrsid3344476\charrsid7044787 ct }{\fs24\insrsid2183627\charrsid7044787 and take copies of any entries in the books of a bank for any of the }{
\fs24\insrsid13633403 purp}{\fs24\insrsid2183627\charrsid7044787 o}{\fs24\insrsid13633403 s}{\fs24\insrsid2183627\charrsid7044787 es of such proceeding.
\par }{\fs24\insrsid3344476\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (2) An order under this section shall be served on th}{\fs24\insrsid3344476\charrsid7044787 e}{\fs24\insrsid2183627\charrsid7044787  bank three clear days before the same is to be obeyed, u}{
\fs24\insrsid3344476\charrsid7044787 n}{\fs24\insrsid2183627\charrsid7044787 less the Court or Judge directs otherwise.
\par }{\fs24\insrsid3344476\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (3) Sunday, and any bank holiday,}{\fs24\insrsid3344476\charrsid7044787  shall be excluded from the comp}{\fs24\insrsid2183627\charrsid7044787 utation of time under this section}{\fs24\insrsid3344476\charrsid7044787 
.}{\fs24\insrsid2183627\charrsid7044787 
\par }{\fs24\insrsid3344476\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (4}{\fs24\insrsid3344476\charrsid7044787 )}{\fs24\insrsid2183627\charrsid7044787  The costs of any application to the Court or Jud}{\fs24\insrsid3344476\charrsid7044787 ge}{\fs24\insrsid2183627\charrsid7044787 
 under or for the purposes}{\fs24\insrsid3344476\charrsid7044787  o}{\fs24\insrsid2183627\charrsid7044787 f this section, and the costs of anything done or to be done under an order of a Court or Judge}{\fs24\insrsid3344476\charrsid7044787  }{
\fs24\insrsid2183627\charrsid7044787 made under or for the purposes of this section, shall be in the discretion of the Court or Judge.
\par }{\fs24\insrsid3344476\charrsid7044787 
\par (5) }{\fs24\insrsid2183627\charrsid7044787 Where any such costs have been occasioned by a}{\fs24\insrsid3344476\charrsid7044787 ny}{\fs24\insrsid2183627\charrsid7044787  defa}{\fs24\insrsid3344476\charrsid7044787 ult or delay on the part of the }{
\fs24\insrsid16018052\charrsid7044787 bank, the Court or Judge may}{\fs24\insrsid2183627\charrsid7044787  order that the same or any part thereof be paid to any party by the bank.
\par }{\fs24\insrsid3344476\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (6) Any such order against the bank may be enforced as if the bank were a party to the proceeding.
\par 
\par }\pard \ql \li0\ri4\widctlpar\tx1152\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid2183627\charrsid7044787 17.}{\fs24\insrsid3344476\charrsid7044787  }{\fs24\ul\insrsid2183627\charrsid7044787 Post Office Savings Bank}{
\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787  This Act shall not ap}{\fs24\insrsid8874310\charrsid7044787 ply }{\fs24\insrsid4144691 to}{\fs24\insrsid8874310\charrsid7044787 
 the Post Office Savings B}{\fs24\insrsid2183627\charrsid7044787 ank.
\par }{\fs24\insrsid3344476\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid2183627\charrsid7044787 18. }{\fs24\ul\insrsid2183627\charrsid7044787 Destruction of cheques and other documents}{
\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787  (1) All cheques and bank drafts drawn on a bank and in the possession of the bank and all bills of exchange or promissory notes in the}{
\fs24\insrsid3344476\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 possession of a ba}{\fs24\insrsid3344476\charrsid7044787 n}{\fs24\insrsid2183627\charrsid7044787 k }{\fs24\insrsid16018052\charrsid7044787 and}{
\fs24\insrsid2183627\charrsid7044787  made payable at the bank, may be}{\fs24\insrsid8874310\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 destroyed by the ban
k after the expiration of seven years from the date thereof in the case of documents payable on demand, or from the due date thereof in the case of all other documents.
\par }{\fs24\insrsid3344476\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (2) No such document shall be destroyed under the authority of this section at any time after a demand for the delivery of such document has been made to the bank by the person entitled thereto.
\par }{\fs24\insrsid3344476\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 19. }{\fs24\ul\insrsid3344476\charrsid7044787 S}{\fs24\ul\insrsid2183627\charrsid7044787 tamp duties}{\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid4749944\charrsid7044787 -}{
\fs24\insrsid2183627\charrsid7044787  Notwithstanding anything to the contrary in any Act, Ordinance or Regulation whether passed or made before or after the commencement of this Act no stamp duty or revenue}{\fs24\insrsid3344476\charrsid7044787  }{
\fs24\insrsid2183627\charrsid7044787 duty shall be payable on any bill of exchange, promissory note or other negotiable instrument,}{\fs24\insrsid8874310\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 whether drawn or made within the Cook }{
\fs24\insrsid3344476\charrsid7044787 Is}{\fs24\insrsid2183627\charrsid7044787 l}{\fs24\insrsid3344476\charrsid7044787 ands}{\fs24\insrsid2183627\charrsid7044787  or outside the Cook Islands.
\par }{\fs24\insrsid3344476\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 20. }{\fs24\ul\insrsid2183627\charrsid7044787 Bank not to issue bank notes}{\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
 No bank licensed pursuant to this Ac shall issue bank no}{\fs24\insrsid8874310\charrsid7044787 t}{\fs24\insrsid2183627\charrsid7044787 es in the Cook Islands.
\par }{\fs24\insrsid3344476\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\tx1872\tx5760\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid2183627\charrsid7044787 21. }{\fs24\ul\insrsid2183627\charrsid7044787 Sections 645 and 646 of the Cook Islands Act 1915 not }{
\fs24\ul\insrsid3344476\charrsid7044787 to app}{\fs24\ul\insrsid2183627\charrsid7044787 l}{\fs24\ul\insrsid3344476\charrsid7044787 y}{\fs24\ul\insrsid2183627\charrsid7044787  to}{\fs24\ul\insrsid3344476\charrsid7044787  }{
\fs24\ul\insrsid2183627\charrsid7044787 transactions}{\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787  Sections 645 and}{\fs24\insrsid3344476\charrsid7044787  646 }{
\fs24\insrsid2183627\charrsid7044787 of}{\fs24\insrsid3344476\charrsid7044787  the C}{\fs24\insrsid2183627\charrsid7044787 ook Islands }{\fs24\insrsid3344476\charrsid7044787 Act 1915 shall }{\fs24\insrsid2183627\charrsid7044787 
not apply to any contract or security made }{\fs24\insrsid3344476\charrsid7044787 w}{\fs24\insrsid2183627\charrsid7044787 
ith or given to a bank duly licensed pursuant to this Act provided there shall appear on the document evidencing such contract or security a certificate in the prescribed form signed by an interpreter approved by the Registrar of the High Court
 that such contract or security has been interpreted to the native concerned and that he appears to understand and appreciate fully the meaning and effect thereof.
\par }{\fs24\insrsid3344476\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid2183627\charrsid7044787 22. }{\fs24\ul\insrsid2183627\charrsid7044787 Regulations}{\fs24\insrsid2183627\charrsid7044787  }{
\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787  (1)}{\fs24\insrsid3344476\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 The High Commissioner may from time to ti}{\fs24\insrsid3110623 m}{
\fs24\insrsid2183627\charrsid7044787 e by Order in Executive Council and upon notice in the Cook Islands Gazette make all such regulations as may be deemed}{\fs24\insrsid3344476\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
necessary or expedient to give full effect to the provisions of this Act and for the due administration thereof. Such notice shall be sufficient if it states the regulations have been made and gives the place where copies of them can be obtained.
\par }{\fs24\insrsid3344476\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (2) Without limiting the general power hereinbefore conferred it is hereby declared that regulations may be made under this section for all or any of the following purposes }{\fs24\insrsid4749944\charrsid7044787 -}{
\fs24\insrsid2183627\charrsid7044787 
\par }{\fs24\insrsid3344476\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid16018052 {\fs24\insrsid2183627\charrsid7044787 (a) prescribing the times and days of the week in whi}{\fs24\insrsid3344476\charrsid7044787 ch}{
\fs24\insrsid2183627\charrsid7044787  banks may be o}{\fs24\insrsid3344476\charrsid7044787 pen to conduct banking business;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid3110623 {\fs24\insrsid3344476\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid16018052 {\fs24\insrsid2183627\charrsid7044787 (b) prescribing the days on which banks may close a}{\fs24\insrsid3110623 s}{\fs24\insrsid2183627\charrsid7044787 
 bank holidays and the pu}{\fs24\insrsid3344476\charrsid7044787 blic notice thereof;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid3110623 {\fs24\insrsid3344476\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid16018052 {\fs24\insrsid2183627\charrsid7044787 (c) prescribing condit
ions of approval of interpreters by the Registrar of the High Court, forms of certificates by interpreters and fees payable to }{\fs24\insrsid3344476\charrsid7044787 interpreters in respect thereof;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid3344476\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid16018052 {\fs24\insrsid2183627\charrsid7044787 (d) prescribing the rates of interest chargeable by or payable by ba}{\fs24\insrsid3344476\charrsid7044787 n}{
\fs24\insrsid2183627\charrsid7044787 ks.
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid3344476\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (3) All regulations made under this section shall be laid before the Legislative Assembly within twenty}{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
eight days after the date of the making thereof if the Legislative Assembl}{\fs24\insrsid8874310\charrsid7044787 y}{\fs24\insrsid3344476\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
is then in session, and, if not, shall be laid before the Legislative A}{\fs24\insrsid8874310\charrsid7044787 ssembly }{\fs24\insrsid2183627\charrsid7044787 within twenty}{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
eight days after the date of the commencement of the next ensuing session.
\par }{\fs24\insrsid3344476\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 23. }{\fs24\ul\insrsid2183627\charrsid7044787 Repeal}{\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787  Section 13 of the Cook Islands Amendment Ac}
{\fs24\insrsid3344476\charrsid7044787 t}{\fs24\insrsid2183627\charrsid7044787  1921 is hereby repealed.
\par }{\fs24\insrsid3344476\charrsid7044787 
\par }\pard \qc \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid16018052 {\b\fs24\cf0\insrsid2183627\charrsid7873943 PART II
\par }{\b\fs24\cf0\insrsid3344476\charrsid7873943 EXCHANGE CONTROL}{\b\fs24\cf0\insrsid2183627\charrsid7873943 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\cf0\insrsid3344476\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 2}{\fs24\insrsid3344476\charrsid7044787 4. }{\fs24\ul\insrsid3344476\charrsid7044787 Control of overseas exchange }{\fs24\ul\insrsid16018052\charrsid7044787 and }{\fs24\ul\insrsid5190610\charrsid7044787 
other transactions}{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid3344476\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 (1) Whereas }{\fs24\insrsid3344476\charrsid7044787 i}{\fs24\insrsid2183627\charrsid7044787 t is the sovereign right o}
{\fs24\insrsid3344476\charrsid7044787 f}{\fs24\insrsid5190610\charrsid7044787  Her Majesty the Queen}{\fs24\insrsid2183627\charrsid7044787  as Head of State of the Cook Islands to control currency a}{\fs24\insrsid3110623 nd}{
\fs24\insrsid2183627\charrsid7044787  credit in the public interest and whereas it is desirable that the High Commissioner be empowered by Order in Executive Coun}{\fs24\insrsid3344476\charrsid7044787 c}{\fs24\insrsid2183627\charrsid7044787 
il to make regulations for safeguardi}{\fs24\insrsid5190610\charrsid7044787 ng the credit overseas resources }{\fs24\insrsid2183627\charrsid7044787 or}{\fs24\insrsid3344476\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
development of the Cook Islands now therefore it is hereby enacted that in addition to any other power to make regulatio}{\fs24\insrsid3344476\charrsid7044787 n}{\fs24\insrsid2183627\charrsid7044787 
s conferred by this Act the High Commissioner may from time to }{\fs24\insrsid3344476\charrsid7044787 time }{\fs24\insrsid2183627\charrsid7044787 
by Order in Executive Council if he is satisfied that it is necessary so to do for the purpose of safeguarding in the }{\fs24\insrsid9782911\charrsid7044787 public}{\fs24\insrsid2183627\charrsid7044787 
 interest the credit overseas resources or development of the Cook Islands make regulations providing for the prohibition}{\fs24\insrsid3344476\charrsid7044787 ,}{\fs24\insrsid2183627\charrsid7044787  restriction}{\fs24\insrsid3344476\charrsid7044787 ,}{
\fs24\insrsid2183627\charrsid7044787  regulation a}{\fs24\insrsid3344476\charrsid7044787 n}{\fs24\insrsid2183627\charrsid7044787 
d control of overseas exchange transactions and other transactions affecting or likely to affect at any time the overseas resources of the Cook Islands.
\par }{\fs24\insrsid3344476\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (2) Without limiting the generality of subsection (1) of this section, regulations may be made for the purposes of that subsection in respect of all or any of the following matters:
\par 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid2183627\charrsid7044787 (a) The taking, sending, or transfer of money or securities to or from the Cook Islands}{
\fs24\insrsid3344476\charrsid7044787 ;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid9711008 {\fs24\insrsid3344476\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid2183627\charrsid7044787 
(b) The registration of securities in the names of, or the issue, transfer, or delivery of securities to, or the furnishing of}{\fs24\insrsid3344476\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
information, in relation to the ownership or acquisition of or control over securities or rights or interests therein by persons not ordina}{\fs24\insrsid3344476\charrsid7044787 r}{\fs24\insrsid2183627\charrsid7044787 
ily resident in the Cook Islands, or companies}{\fs24\insrsid3344476\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
that are under the effective control of such persons or of bodies corporate incorporated outside the Cook Islands, or nominees, trustees, }{\fs24\insrsid3344476\charrsid7044787 or agents of such persons or of }{\fs24\insrsid2183627\charrsid7044787 
such companies or bodies corporate; or the transfer to overseas registers of securiti}{\fs24\insrsid3344476\charrsid7044787 es;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid9711008 {\fs24\insrsid3344476\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid2183627\charrsid7044787 (c) The commencement of business in the Cook Islands by}{\fs24\insrsid3344476\charrsid7044787 
 companies incorporated outside }{\fs24\insrsid2183627\charrsid7044787 the Cook Islands}{\fs24\insrsid3344476\charrsid7044787 ;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid9711008 {\fs24\insrsid3344476\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid2183627\charrsid7044787 (d) The disposal of foreign currency and foreign securities accruing to, held by, or at 
the disposal of persons resident, whether}{\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 permanently or temporarily, in the Cook Islands}{\fs24\insrsid13391115\charrsid7044787 ;
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid9711008 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid2183627\charrsid7044787 (}{\fs24\insrsid13391115\charrsid7044787 e}{\fs24\insrsid2183627\charrsid7044787 
) Any dealing or transaction having the effect of a purchase,}{\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 borrowing, sale, loan, or exchange of foreign}{\fs24\insrsid13391115\charrsid7044787 
 currency or foreign securities;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid2183627\charrsid7044787 (f) The consideration for, and methods of settlement for, exports (including re}{
\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 exports) from and imports into the Cook Islands, and the disposal}{\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
of the overseas proceeds of exports and re}{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid13391115\charrsid7044787 exports;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid5782299 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid2183627\charrsid7044787 (g) The acquisition, surrender,}{\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
transfer, disposition, or provision of, or other dealings in, property, goods, money, securities, services}{\fs24\insrsid13391115\charrsid7044787 ,}{\fs24\insrsid2183627\charrsid7044787  or work, or}{\fs24\insrsid13391115\charrsid7044787  }{
\fs24\insrsid2183627\charrsid7044787 rights or interests in respect of any such things, or }{\fs24\insrsid5782299 any other benefit, in the Cook I}{\fs24\insrsid2183627\charrsid7044787 
slands in consideration in whole or in part for the acquisition, surrender, transfer, disposition, or provision of, or other dealings in, property, goods, money, securities, services, or work, or rights or interest}{\fs24\insrsid9782911\charrsid7044787 
s in respect of any such things or any other benefit, outside the Cook Islands; or any arrangement or transaction having the like effect.}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid5782299 {\fs24\insrsid9782911\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid9782911 {\fs24\insrsid9782911\charrsid7044787 (3) Any regulation made for the purpose}{\fs24\insrsid5782299 s of }{\fs24\insrsid9782911\charrsid7044787 
 paragraph (a) of subsection (2) of this section may provide-}{\fs24\insrsid2183627\charrsid7044787 
\par }{\fs24\insrsid9782911\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid2183627\charrsid7044787 (a) For the search, by authorised officers,}{\fs24\insrsid13391115\charrsid7044787  }{
\fs24\insrsid2183627\charrsid7044787 of }{\fs24\insrsid13391115\charrsid7044787 pe}{\fs24\insrsid2183627\charrsid7044787 rsons abou}{\fs24\insrsid13391115\charrsid7044787 t to depart from the Cook Islands;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid5782299 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid2183627\charrsid7044787 (b) For the production to authorised officers of money or securities t}{\fs24\insrsid13391115\charrsid7044787 
hat such persons have with them;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid5782299 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid2183627\charrsid7044787 (c) For the examination and search, by authorised officers, of articles that such persons ha}{
\fs24\insrsid13391115\charrsid7044787 ve or are}{\fs24\insrsid5782299  }{\fs24\insrsid13391115\charrsid7044787 taking with them, and }{\fs24\insrsid2183627\charrsid7044787 the examination}{\fs24\insrsid13391115\charrsid7044787  }{
\fs24\insrsid2183627\charrsid7044787 and search of ships and aircraft, for the purpose of discovering any money or}{\fs24\insrsid13391115\charrsid7044787  securities;
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid2183627\charrsid7044787 
(d) For the examination and search, by authorised officers, of articles or goods consigned or otherwise taken or sent from the Cook Islands to a destination outside the Cook Islands,}{\fs24\insrsid13391115\charrsid7044787  }{
\fs24\insrsid2183627\charrsid7044787 for the purpose of discovering whether there are being sent with such articles o}{\fs24\insrsid13391115\charrsid7044787 r goods any money or securities;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid5782299 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid2183627\charrsid7044787 
(e) For the seizure, by authorised officers, of money or securities so produced or discovered, unless such officers are satisfied that the taking or}{\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
sending thereof does not involve a contravention of t}{\fs24\insrsid13391115\charrsid7044787 he regulations;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid9782911\charrsid7044787 (f) }{\fs24\insrsid2183627\charrsid7044787 For the forfeiture of }{\fs24\insrsid13391115\charrsid7044787 money or se
curities so seized.
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid138021\charrsid7044787 
\par }{\fs24\insrsid13391115\charrsid7044787 (}{\fs24\insrsid2183627\charrsid7044787 4) For the purposes of this section, unless the context }{\fs24\insrsid13391115\charrsid7044787 other}{\fs24\insrsid2183627\charrsid7044787 wise requires, }{
\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
\par }{\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid9782911\charrsid7044787 Authorised officer}{\fs24\insrsid12322323\charrsid7044787 "}{
\fs24\insrsid2183627\charrsid7044787 , in relation to any matter, means any officer or agent of the Cook Islands Government acting or employed in that matter with the written}{\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
authority of}{\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 the Board,}{\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid2559249 and any}{\fs24\insrsid2183627\charrsid7044787 
 officer of Customs within the meaning of the Customs Act 1913 and its amendment}{\fs24\insrsid13391115\charrsid7044787 s, and any member of the Police;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid9782911\charrsid7044787 Foreign currency}{\fs24\insrsid12322323\charrsid7044787 "}{
\fs24\insrsid2183627\charrsid7044787  means the bank notes or other currency, post}{\fs24\insrsid13391115\charrsid7044787 a}{\fs24\insrsid2183627\charrsid7044787 l notes, or money orders of any country othe
r than the Cook Islands pr New Zealand; and includes promissory notes and bills of exchange payable otherwise than in New Zealand}{\fs24\insrsid13391115\charrsid7044787  currency;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid9782911\charrsid7044787 Foreign securities}{\fs24\insrsid12322323\charrsid7044787 "}{
\fs24\insrsid2183627\charrsid7044787  means }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li1440\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin1440\itap0\pararsid9782911 {\fs24\insrsid2183627\charrsid7044787 (a) Any security in respect o}{\fs24\insrsid13391115\charrsid7044787 f}{\fs24\insrsid2183627\charrsid7044787 
 which the principal is repayable, or interest is payable, in any country other than the Cook Islands or}{\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid9782911\charrsid7044787 in any }{\fs24\insrsid2183627\charrsid7044787 foreign currency; and

\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid2559249 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li1440\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin1440\itap0\pararsid9782911 {\fs24\insrsid2183627\charrsid7044787 (b) Any security registered or inscribe}{\fs24\insrsid13391115\charrsid7044787 d}{
\fs24\insrsid2183627\charrsid7044787  or situated outside the Cook Islands; and
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid2559249 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li1440\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin1440\itap0\pararsid9782911 {\fs24\insrsid2183627\charrsid7044787 (c) Any security}{\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
issued by a body corporate having its head office outside the Cook Islands, whether or not the security is registered or inscribed on a register in the Cook Islands and includes }{\fs24\insrsid4749944\charrsid7044787 -}{
\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid2559249 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li1440\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin1440\itap0\pararsid9782911 {\fs24\insrsid2183627\charrsid7044787 (d) Gold situated outside the Cook Islands}{\fs24\insrsid13391115\charrsid7044787 ; and
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid2559249 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li1440\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin1440\itap0\pararsid9782911 {\fs24\insrsid2183627\charrsid7044787 (e) Any debt or money due or accruing due to, 
or any sum held in any account for, a person in the Cook Islands by a person outside the Cook Islands; and
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li1440\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin1440\itap0\pararsid9782911 {\fs24\insrsid2183627\charrsid7044787 (f)}{\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
Any right to receive payment of any sum of money in any country other than the Cook Islands; and
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid12464477 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li1440\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin1440\itap0\pararsid9782911 {\fs24\insrsid2183627\charrsid7044787 (g) Any right to receive payment of}{\fs24\insrsid13324395\charrsid7044787  any amount of foreign currency;}{
\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid12464477 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid9782911\charrsid7044787 Gold}{\fs24\insrsid12322323\charrsid7044787 "}{
\fs24\insrsid2183627\charrsid7044787  includes gold coin, gold bullion, retorted gold, gold ores, gold amalgam, gold alloys; precipitates}{\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
containing gold, slag, concentrates, tailings, and residues; but, with the exception of gold coin, does not incl}{\fs24\insrsid13391115\charrsid7044787 ude things manufactured of gold;}{\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid9782911\charrsid7044787 Head office}{\fs24\insrsid12322323\charrsid7044787 "}{
\fs24\insrsid2183627\charrsid7044787 , in relation to a body corporate, mean,, the centre of it}{\fs24\insrsid13391115\charrsid7044787 s administrative managem}{\fs24\insrsid2183627\charrsid7044787 ent}{\fs24\insrsid13391115\charrsid7044787 ;
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid9782911\charrsid7044787 Money}{\fs24\insrsid12322323\charrsid7044787 "}{
\fs24\insrsid2183627\charrsid7044787  includes the bank notes and other currency; postal notes, and money orders of New Zealand and the Cook Islands or any other country; and also includes promiss}{\fs24\insrsid13391115\charrsid7044787 
ory notes and bills of exchange;
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid9782911\charrsid7044787 Person}{\fs24\insrsid12322323\charrsid7044787 "}{
\fs24\insrsid2183627\charrsid7044787  includes a corporation sole and also a body of person}{\fs24\insrsid13391115\charrsid7044787 s, whether incorporated or not;
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid9782911 {\fs24\insrsid12322323\charrsid7044787 "}{\fs24\insrsid9782911\charrsid7044787 Securities}{\fs24\insrsid12322323\charrsid7044787 "}{
\fs24\insrsid2183627\charrsid7044787  includes}{\fs24\insrsid13391115\charrsid7044787  shares, stock, bonds, debenture}{\fs24\insrsid2183627\charrsid7044787 s debenture stock,}{\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
mortgages}{\fs24\insrsid13391115\charrsid7044787 ,}{\fs24\insrsid2183627\charrsid7044787  }{\fs24\insrsid13391115\charrsid7044787 l}{\fs24\insrsid2183627\charrsid7044787 i
ens, treasury bills, coupons or warrants representing dividends or interest, and life or endowment insurance policies, in whatever currency the securities are expressed and whether they are situated in New Zealand or}{
\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
the Cook Islands or elsewhere; and also includes any document or means whereby the right to the ownership or provision of any money or security, or any interest therein, may be exercised; but does not include promissory notes or bills of exchange.
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid13391115\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (5) For the purposes of this section, an individual s}{\fs24\insrsid13391115\charrsid7044787 hall}{\fs24\insrsid2183627\charrsid7044787  be deemed}{\fs24\insrsid13391115\charrsid7044787  }{
\fs24\insrsid2183627\charrsid7044787 to be ordinarily}{\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 resident in the Cook Islands at any time if at that}{\fs24\insrsid13391115\charrsid7044787  }{
\fs24\insrsid2183627\charrsid7044787 time }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
\par }{\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid7561956 {\fs24\insrsid2183627\charrsid7044787 (a) He is domiciled in the Cook Islands}{\fs24\insrsid13391115\charrsid7044787 ; or}{
\fs24\insrsid2183627\charrsid7044787 
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid12464477 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid7561956 {\fs24\insrsid2183627\charrsid7044787 (b) He is residing in the Cook Islands and his usual place}{\fs24\insrsid13391115\charrsid7044787  }{
\fs24\insrsid2183627\charrsid7044787 of abode is, and has been for the immediately preceding period of twelve months,}{\fs24\insrsid12464477  }{\fs24\insrsid2183627\charrsid7044787 in}{\fs24\insrsid13391115\charrsid7044787  }{
\fs24\insrsid2183627\charrsid7044787 the Cook Islands whether or not he has been occasionally or temporarily absent from the Cook Islands during that period.
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid13391115\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (6) For the purposes of this section }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
\par }{\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid12464477 {\fs24\insrsid2183627\charrsid7044787 Where any body corporate incorpor}{\fs24\insrsid7561956\charrsid7044787 ated outside the Cook Islands and}{
\fs24\insrsid2183627\charrsid7044787  carrying on business through a branch or branches in the Cook Islands does not have its head office in the Cook Islands, each such branch shall be }{\fs24\insrsid13391115\charrsid7044787 deemed to be }{
\fs24\insrsid2183627\charrsid7044787 a separate person and shall, together with the person
 in the Cook Islands for the time being having control of the business in the Cook Islands, be deemed to be ordinarily resident in the Cook Islands, and such persons shall is respect of the branch}{\fs24\insrsid13391115\charrsid7044787  }{
\fs24\insrsid2183627\charrsid7044787 be jointly and severally liable accordingly; but nothing in this paragraph shall be construed to relieve the body corporate from any obligation or liability to any penalty under this Act or under}{
\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 any regulations made under this Act.
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid13391115\charrsid7044787 
\par }{\fs24\insrsid2183627\charrsid7044787 (}{\fs24\insrsid13391115\charrsid7044787 7}{\fs24\insrsid2183627\charrsid7044787 )}{\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
For the purposes of this section, any reference to the transfer}{\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 of any a}{\fs24\insrsid13391115\charrsid7044787 utho}{\fs24\insrsid2183627\charrsid7044787 
rity includes a reference to a transfer of the security}{\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 by way of loan, mortgage, pledge, or bailment, whether in respect of }{\fs24\insrsid13391115\charrsid7044787 a}{
\fs24\insrsid2183627\charrsid7044787  legal or an equitable interest.}{\fs24\insrsid13391115\charrsid7044787 
\par 
\par }{\fs24\insrsid2183627\charrsid7044787 (8) For the purposes of this section }{\fs24\insrsid4749944\charrsid7044787 -}{\fs24\insrsid2183627\charrsid7044787 
\par }{\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid7561956 {\fs24\insrsid2183627\charrsid7044787 (a) Money shall be deemed to be taken or sent if it is t
aken or sent by telegraph or post or by means of any draft, letter of credit, traveller}{\fs24\insrsid12322323\charrsid7044787 '}{\fs24\insrsid2183627\charrsid7044787 s cheque,}{\fs24\insrsid13391115\charrsid7044787  }{
\fs24\insrsid2183627\charrsid7044787 or tra}{\fs24\insrsid13391115\charrsid7044787 ns}{\fs24\insrsid2183627\charrsid7044787 fer of account, or by any means }{\fs24\insrsid13391115\charrsid7044787 whatsoever;}{\fs24\insrsid2183627\charrsid7044787  and

\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid12322323 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \ql \li720\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin720\itap0\pararsid7561956 {\fs24\insrsid2183627\charrsid7044787 (b) The making, in respect of a person who is not ordinarily resident in the Cook Islands, of a book 
entry whose effect is either to create a}{\fs24\insrsid13391115\charrsid7044787  }{\fs24\insrsid2183627\charrsid7044787 
credit overseas, or to extinguish a debit overseas, in the name of a person who is ordinarily resident in the Cook Islands shall be deemed to be the taking or sending of money out of the}{\fs24\insrsid8874310\charrsid7044787  }{
\fs24\insrsid2183627\charrsid7044787 Cook Islands.
\par }\pard \ql \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid4483449 {\fs24\insrsid13391115\charrsid7044787 
\par }\pard \qc \li0\ri4\widctlpar\aspalpha\aspnum\faauto\adjustright\rin4\lin0\itap0\pararsid7561956 {\fs24\insrsid4749944\charrsid7044787 --------------------------}{\fs24\insrsid2706578 ------------------------}{\fs24\insrsid13391115\charrsid7044787 
\par }}