USAMGIK Ordinance 57
Jump to navigation Jump to search
- UNITED STATES ARMY MILITARY
- GOVERNMENT IN KOREA
Office of the Military Governor
21 Febrnary 1946
DEPOSIT OF NOTES OF BANK OF JAPAN
AND BANK OF TAIWAN
SECTION Ⅰ. Deposit Required
All natural and juridical persons within Korea South of 38° North Latitude are hereby:
a. Ordered to deposit within the period 2 March to 7 March 1946 inclusive in one of the financial institutions designated in Section 2 all notes of the Bank of Japan of a denomination of one yen or more and all noter of the Bank of Taiwan owned or possessed by them.
b. Prohibited after 7 March 1946 from importing, exporting, receiving, paying out, knowingly owning or possessing, giving or otherwise transferring or dealing in or engaging in any transaction with respect to any such currency.
SECTION Ⅱ. Designated Financial Institutions.
The following financial institutions are authorized and directed to receive Bank of Japan and Bank of Taiwan notes for deposit in Japanese yen accounts pursuant to this Ordinance in the name of the person making the deposit:
- Bank of chosen
- Chosen Industrial Bank
- Choheung Bank
- Chosen Commercial Bank
- Chosen Trust Company
- Chosen Savings Bank
- Federation of Financial Association
a. Hold in safekeeping separate from any other currency the notes deposited under this ordinance.
b. Report to the Bureau of Finance, Military Government of Korea, Seoul, immediately after the deposit period the amount of each current deposited.
SECTION Ⅲ. Limitations on Deposit Accounts
Accounts resulting from the deposit of notes of the Bank of Japan and Bank of Taiwan pursuant to this Ordinance shall not have withdrawals therefrom, shall bear no interest, shall not be transferable or negotiable or used as collateral for any present or future loan or indebtedness.
SECTION Ⅳ. Penalty Clause
Any person violating the provisions of this Ordinance will, upon conviction by a Military Occupation Court, suffer such penalty as the court shall determine.
SECTION Ⅴ. Effective Date
This Ordinance shall effective at midnight, (2400) 21 February 1946.
- ARCHER L. LERCH
- Major General, United States Army
- Military Governor of Korea.
This work is in the public domain because, according to Article 7 of the Copyright Act of South Korea, this work is not protected by copyright law. This following works are included:
- Constitution, laws, treaties, decrees, ordinances and rules;
- Notices, public notifications, directions and others similar to them issued by the state or local government;
- Judgments, decisions, orders, or rulings of courts, as well as rulings and decisions made by the administrative appeal procedures, or other similar procedures;
- Compilations or translations of works as referred to in Subparagraphs 1 to 3 which are produced by the state or local government; and
- Current news reports which transmit simple facts, and digital audio transmission