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2. Section 4 of the Principal Ordinance is hereby amended Amend- by the deletion of the words "becoming insolvent shall be ment of
sold and applied toward such redemption as far as may be section of
Principal necessary but without prejudice to the rights of the holders Ordinance. "of such notes to rank with other creditors of the Company "against the assets of the Company" and by the substitu- tion therefor of the following words "being wound up such "securities shall be sold and the proceeds of sale, together "with any such coiu as aforesaid, shall be applied so far as necessary towards the redemption of the notes outstanding. Nothing in the foregoing provision shall prejudice the rights of the holders of notes in the event of such proceeds "of sale, together with any such coin as aforesaid, proving to "be less than the face value of the notes outstanding, but if "such proceeds and coin amount to more than such face value "the difference shall be paid over to the Company."
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Objects and Reasons,
The object of this Bill is to give the Crown Agents and the Colonial Treasurer express power to sell for the re- demption of the note issue of this Bank, the funds under their control deposited with them as security for such note issue in the event of the Bank being wound up. The Lords Commissioners of His Majesty's Treasury are of the opinion that the proposed amendment of the Ordinance is required in the form now suggested.
JOHN A. BUCKNILL,
{
A BILL
Attorney denerul.
ENTITLED
An Ordinance to amend The Vagrancy Ordi-
nance, 1897. ..
Be it enacted by the Governor of Hongkong, with the advice and consent of the Legislative Council thereof, as follows:-
1. This Ordinance may be cited as the Vagraney Short title. Amendment Ordinànce, 1913.
2. Section 2 of the Vagrancy Ordinance, 1897, is hereby Amendment amended by the deletion of the definition “Vagraut" and of section 2 by the substitution therefor of the following definition :--
of Ordinance No. 9 of '1897.
Vagrant' means any person, other than a Chinese, found asking for alms or being without either employment or visible means of subsistence or being a prostitute.
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Objects and Reasons.
The object of this Bill is to endeavour to exercise some control over and to ameliorate the condition of those non- Chinese unfortunates who at times are found in the Colony in a state of vagrancy or distress.
JOHN A. BUCKNILL,
Attorney General.