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Cross-boundary Movement of Physical Currency and Bearer Negotiable Instruments Ordinance Part 2—Division 1 Section 7 (2) The person must make a declaration for the CBNIs in accordance with subsection (3).

(3) The declaration must—
 * (a) be in a form specified by the Commissioner containing the information set out in Part 2 of Schedule 2; and
 * (b) be made by giving the form to the authorized officer.

(4) A person who fails to comply with subsection (2) commits an offence.

(5) If a declaration made for the purposes of this section contains any information that is false in a material particular, the person who makes the declaration commits an offence.

(6) A person who commits an offence under subsection (4) or (5) is liable on conviction to a fine of $500,000 and to imprisonment for 2 years.

(7) It is a defence for a person charged under subsection (5) if the person establishes that at the time of the alleged offence the person did not know, had no reason to suspect, and could not with reasonable diligence have ascertained, that the information concerned was false in a material particular.

7. Determining value of CBNIs not denominated in Hong Kong dollars

(1) For the purposes of this Division, if a CBNI in the possession of a person at the time of a relevant event is denominated in a currency other than Hong Kong dollars, its equivalent value in Hong Kong dollars must be calculated in accordance with this section.