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THE HONGKONG GOVERNMENT GAZETTE, NOVEMBER 3, 1916.
WAR LOAN BILL.--The Attorney General addressed the Council and moved the First reading of a Bill intituled An Ordinance to authorise the raising of a War Loan.
The Colonial Secretary seconded.
His Excellency the Governor addressed the Council.
Question--put and agreed to.
Bill read a first time.
The Attorney General moved the suspension of the Standing Orders so that the Bill might be read a second and third time.
The Colonial Secretary seconded.
Question--put and agreed to.
The Attorney General then addressed the Council and moved the Second reading of the Bill.
The Colonial Secretary seconded.
Question-put and agreed to.
Bill read a second time.
Council in Committee on the Bill.
On the motion of the Attorney General the following amendments were agreed to:- Section 3 was re-numbered as sub-section (1) and the following sub-section numbered (2) was inserted at the end thereof :-
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"(2.) The Governor shall appropriate out of the revenue and assets of the Colony such sums as may be necessary to provide for the expenses of the flotation and management of the loan.”
Section 7 was amended by the deletion of the words "half-year ending as aforesaid" in the first and second lines and by the substitution therefor of the words "
year ending on the 30th day of November".
Section 8 was re-numbered as sub-section (1) and the following sub-section numbered (2) was inserted at the end thereof :-
"(2.) In case the sinking fund shall be insufficient for the payment of the principal moneys at the time when such payment shall become due the Governor shall make good the deficiency out of the revenue and assets of the Colony."
Section 12 was amended by the deletion of the words "interest thereon" in the first and second lines and the substitution therefor of the words "principal and interest repre- sented thereby ".
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On Council resuming, the Attorney General reported that the Bill had passed through Committee with amendments and moved that it be read a third time.
The Colonial Secretary seconded.
Question--put and agreed to.
Bill read a third time and passed.
ADJOURNMENT.--The Council then adjourned until Tuesday, the 31st day of October,
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1916.
Confirmed this 31st day of October, 1916.
A. G. M. FLETCHER, Clerk of Councils.
F. H. MAY, Governor.