E
1
180
THE HONGKONG GOVERNMENT GAZETTE, APRIL 18, 1913.
Saving Clause.
40. Nothing in this Ordinance or in the repeal of Ordi- nance No. 1 of 1893 shall affect the rights of any person who holds stock or bonds issued under the authority of Ordinance No. 1 of 1893.
Passed the Legislative Council of Hongkong, this 17th day of April, 1913.
R. H. CROFTON,
Clerk of Councils.
Assented to by His Excellency the Governor, the 18th
day of April, 1913.
A. M. THOMSON,
Colonial Secretary.
HONGKONG.
No. 8 OF 1913.
An Ordinance to make provision for raising a Loan of Two hundred and fifty thousand pounds Sterling for the purposes of Railway Construction.
I assent to this Ordinance.
LS
F. H. MAY, Governor.
[18th April, 1913.]
Preamble.
Short title.
Authority to Governor to borrow by sale of debentures
stock.
WHEREAS it is expedient to raise a Loan of Two hun- dred and fifty thousand pounds Sterling for the purposes specified in the Schedule bereto :
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Be it therefore enacted by the Governor of Hongkong, by and with the advice and consent of the Legislative Council thereof, as follows:-
1. This Ordinance may be cited as The Railway Loan Ordinance, 1913.
2. The Governor is hereby authorised to issue, stock or debentures or both under the provisions of the General Loan and Inscribed Stock Ordinance, 1913, to an amount sufficient to produce as nearly as may be the sum of £250,000 for the or inscribed purpose of defraying the cost of the completion of the Canton-Kowloon Railway and also to produce such further sum as will reimburse to the Crown Agents for the Colo- nies such advances as they have made or may make in an- ticipation of the repayment of the sum of £1,100,000 lent to the Viceroy at Wuchang so far as the advances may prove not to be fully covered by such repayment. A further amount of stock or debentures or both may also be issued in order to defray the expenses of issue of the loan hereby unthorised.
Application of loan.
Commence-
ment of contribution
to sinking fund.
3. The money to be borrowed under the authority of this Ordinance shall be appropriated and applied to the purposes specified in the Schedule hereto and to no other purpose.
4. Contribution to sluking fund, as contemplated by the provisions of sections fourteen and twenty-eight of the General Loan and Inscribed Stock Ordinance, 1913, shall commence after the expiration of one year from the date of the issue of debentures or inscribed stock to be issued under this Ordinance,