474 THE HONG KONG GOVERNMENT GAZETTE, JUNE 23, 1933.
HONG KONG.
No. 15 of 1933.
I assent.
W. PEEL,
L.S.
Governor.
23rd June, 1933.
An Ordinance to make provision for the redemption of the bonds issued under the authority of the Public Works Loan Ordinance, 1927.
[23rd June, 1933.]
Short title.
Redemption
of bonds
issued under Ordinance No. 14 of 1927.
Issue of Conversion Bonds.
Provision
of Public
Works Loan
bonds for Conversion bonds.
Be it enacted by the Governor of Hong Kong, with advice and consent of the Legislative Council thereof, as follows:
1. This Ordinance may be cited as the Public Works Loan Redemption Ordinance, 1933.
2. Subject to the provisions of section 4 of this Ordin- ance, the bonds issued under the authority of the Public Works Loan Ordinance, 1927, shall be paid off at par on presentation thereof at the head office of the Hongkong and Shanghai Banking Corporation, on and after the first day of August, 1933, from and including which date all interest on the principal moneys represented thereby shall cease and deter- mine, whether payment of the principal shall have been demanded or not.
3. The Governor is hereby authorised to issue bonds, which shall be known as Conversion bonds, to an amount sufficient to produce the sum required for the purposes of this Ordinance and the expenses of the issue and management.
4. The holders of bonds issued under the authority of for exchange the Public Works Loan Ordinance, 1927, who desire to exchange their said honds for Conversion bonds of like nominal value issued under section 3 of this Ordinance. and who shall have signified such desire by application in writing received at the head office of the Hong Kong and Shanghai Banking Corporation on or before the 11th day of July, 1933, shall be entitled to make such exchange instead of having their bonds paid off under section 2; but no such holder who has not so signified his desire on or before the said date may make such exchange without the approval and sanction of the Colonial Treasurer.
Provision as to moneys
required.
5. The moneys required for the payment off of the bonds issued under the authority of the Public Works Loan Ordinance, 1927, may be paid out of the sinking fund established under that Ordinance, or out of the revenue and assets of the Colony;