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THE HONG KONG GOVERNMENT GAZETTE, JUNE 15, 1934.
Transfer
(2) The bonds of each such issue shall be redeemable at par on the 15th day of July in each of the twenty five years following the year in which they were issued, at the annual rate of one twenty-fifth of such issue.
(3) At any time after the 1st day of January, 1935, in each successive year the Governor shall appoint a day, not being later than the 30th day of June, on which bonds to the value of one twenty-fifth of each such issue shall be drawn for redemption.
(4) When a day is appointed by the Governor for drawing, the Treasurer shall give, by advertisement in the Gazette, not less than fifteen days previous notice, specifying the date, hour and place at which the drawing will take place.
(5) On the day and at the hour and place so specified the Treasurer shall hold a meeting at which the holder of any bond may, if he thinks fit, be present, and shall then in the presence of such bond holders, if any, as may attend, draw by lot, out of the total number of bonds of every issue which are then outstanding, bonds to the nominal value of one twenty-fifth of each such issue.
(6) The Treasurer shall thereupon declare the distinguish- ing numbers of the bonds drawn for redemption, and shall, as soon as may be, advertise such numbers in the Gazette.
(7) On the 15th day of July following the date of any such draw the principal moneys represented by the bonds so drawn for redemption, with all interest due thereon up to that day, shall become payable either at the head office of the Hongkong and Shanghai Banking Corporation or at the office of the Chartered Bank of India, Australia and China in Hong Kong.
(8) From and after the day on which the principal. moneys represented by any such bond become so payable all interest thereon shall cease and determine, whether payment of the principal shall have been demanded or not.
(9) In addition to such yearly redemption by drawing of bonds, the Governor may, at any time or times, authorise the redemption, by purchase at current market rates, of bonds of such issues and of such denominations and to such respective total values as he may from time to time determine.
6. Every bond and coupon and the right to receive the by delivery. principal and interest represented thereby shall be transferable
by delivery.
Provision
of interest.
7. The Governor shall in each half-year ending with the for payment day on which the interest on the bonds falls due appropriate out of the revenue and assets of the Colony a sum equal to one half-year's interest on the whole of the bonds outstanding in order that the interest for the said half-year may be paid therefrom.
Appropria- tions from
revenue, etc., to
8.-(1) The Governor shall in each year, as from the 1st day of January, 1935, appropriate out of the revenue and assets of the Colony a sum sufficient to redeem one redemption. twenty-fifth of the total nominal value of the bonds issued,
cover
until the total issue or issues shall have been redeemed.
(2) The Governor may also from time to time appropriate out of the revenue and assets of the Colony such sums as he may deem desirable for the re-purchase of bonds in accordance with the provisions of Section 5 (9).