### Reserved Commodities (Control of Imports, Exports and Reserve Stocks) Regulations 《儲備商品(進出口及儲備存貨管制)規例》

11. Application for and conditions of licence to import or export
(1) The Director may issue a licence to any person to import or export any reserved commodity.
(2) An application for a licence shall be made in writing to the Director.
(3) A licence issued by the Director may be subject to such conditions as the Director thinks fit as to—
(a) the amount of the reserved commodity comprised in such licence;
(b) the period of time within which and the means by which such reserved commodity may be imported or exported;
(c) in the case of an import licence, the period of time within which the said reserved commodity or any part thereof shall be sold or exported;
(d) in the case of an import licence, whether the reserved commodity is to be stored in a reserved commodity storage place upon importation.

11A. Power to exempt from licensing requirements
(1) If the Director is satisfied that a person is engaged in the business of dealing in transhipment cargo he may exempt in writing, with respect to the transhipment of any reserved commodity specified in that exemption, that person from the licensing requirements under these regulations.
(2) The Director may impose such conditions as he thinks fit upon any exemption made under paragraph (1) and any person exempted under paragraph (1) shall comply with any condition imposed under this paragraph.
(3) If a person contravenes or fails to comply with any condition imposed under paragraph (2)—
(a) he shall be guilty of an offence and shall be liable on conviction to a fine at level 5 and to imprisonment for 1 year; and (E.R. 2 of 2020)
(b) the Director may by notice in writing revoke or suspend any exemption granted to that person or amend any condition.
(L.N. 257 of 1984)

12. Application to be registered as a stockholder
(1) Any person may apply to the Director to be registered as a stockholder of a reserved commodity.
(2) An application for registration as a stockholder of a reserved commodity shall be in writing in a form approved by the Director and shall include—
(a) the reserved commodity in respect of which the applicant wishes to be registered as a stockholder; and
(b) the amount of such reserved commodity which the applicant is prepared to hold as a stockholder.
(3) A separate application shall be made in respect of each reserved commodity.

### Reserved Commodities (Control of Imports, Exports and Reserve Stocks) Regulations 《儲備商品(進出口及儲備存貨管制)規例》

13. Registration as a stockholder
(1) Within 14 days of the receipt by him of an application under regulation 12 for registration as a stockholder of a reserved commodity, the Director may—
(a) register the applicant as a stockholder of the reserved commodity in respect of which the application was made; or
(b) give notice in writing to the applicant of his refusal so to register the applicant.
(2) The registration of a stockholder shall be subject to such conditions as the Director may impose.

14. Certificate of registration of stockholder
(1) The Director shall issue to a stockholder a certificate of registration.
(2) Subject to regulation 16, a certificate of registration as a stockholder shall be valid for the period stated in the certificate.
(3) The certificate of registration shall state—
(a) the quantity of the reserved commodity which the stockholder is required to hold in stock; and
(b) the conditions imposed by the Director under regulation 13(2).
(4) The quantity of a reserved commodity which a stockholder is required to hold in stock shall not exceed the amount stated by the stockholder in his application to be registered as a stockholder.
(5) A certificate of registration shall be in such form as the Director may approve.
(6) The Director may at any time alter the conditions of registration of a stockholder and the quantity of the reserved commodity which the stockholder is required to hold in stock.
(7) Where the Director alters the conditions of registration of a stockholder or the quantity of the reserved commodity the stockholder is required to hold in stock the stockholder shall on being required by the Director surrender his certificate to the Director who shall issue a new certificate to the stockholder.

15. Register of stockholders
(1) The Director shall cause to be maintained a register of stockholders for each reserved commodity.
(2) Such registers shall be available for inspection by any person at the offices of the Director during office hours on payment of a fee of $5.

### Reserved Commodities (Control of Imports, Exports and Reserve Stocks) Regulations 《儲備商品(進出口及儲備存貨管制)規例》

16. Cancellation of registration of stockholder
(1) The Director may cancel the registration of a stockholder—
(a) at the request of the stockholder;
(b) on the death, dissolution of partnership or bankruptcy of the stockholder or, in the case of a company, on the winding up of the stockholder;
(c) if any condition of his registration in respect of the reserved commodity is contravened;
(d) if the registered stockholder or any person employed by him commits an offence under the Ordinance;
(e) by giving the stockholder 3 months’ notice in writing. (E.R. 2 of 2020)
(2) Where the Director cancels the registration of a stockholder under paragraph (1), he shall notify the stockholder and shall state under which subparagraph of paragraph (1) the registration is cancelled.
(3) Where the Director has notified a stockholder of the cancellation of his registration under paragraph (2), the stockholder shall forthwith surrender his certificate of registration to the Director.
(4) Where the Director serves a notice on a stockholder of the cancellation under paragraph (1)(e) of his registration, the stockholder shall surrender his certificate of registration to the Director within the period specified in the notice.

17. Disposal of stocks by stockholder on cancellation of registration
Where the Director cancels the registration of a stockholder of a reserved commodity, the stockholder shall dispose of his stocks of that reserved commodity in accordance with the directions of the Director.

18. Duty to maintain stock
(1) A stockholder shall at all times during the continuance of his certificate of registration maintain as stock not less than the amount of the reserved commodity specified in his certificate, or such lesser amount as the Director may from time to time authorize in writing.
(2) Such stock shall be maintained in such reserved commodity storage place as the Director may from time to time in writing direct.
(3) Such stock shall be maintained in good condition to the satisfaction of the Director.

19. Records and returns of stocks
The Director may require a stockholder to—
(a) keep such records; and
(b) submit to the Director such returns of stock of and transactions in the reserved commodity in respect of which he is registered, balance sheets, profit and loss accounts and other financial records,
as the Director may specify.

20. Control of stocks
(1) The Director may by notice in writing to a stockholder order that the stock of a reserved commodity held by such stockholder or any part thereof shall be—
(a) removed from any reserved commodity storage place in which it is stored;
(b) replaced by other stocks of such reserved commodity; or
(c) otherwise dealt with as the Director may direct.
(2) A stockholder who receives an order from the Director under this regulation shall forthwith carry out such order at the sole expense of such stockholder.