204
A BILL
Short title.
Ordinances Nos. 12 of 1916 and I of 1917.
Repeal of Ordinance No. 12 of 1916, s. 4,
and sub- stitution of
a new section.
INTITULED
An Ordinance to amend further the War Loan
Ordinance, 1916.
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 War Loan Second Amendment Ordinance, 1917, and shall be read and construed as one with the War Loan Ordinance, 1916, and with the War Loan Amendment Ordinance, 1917, and this Ordinance and the said Ordinances may be cited together as the War Loan Ordinances, 1916 and 1917.
2. Section 4 of the War Loan Ordinance, 1916, is repealed and the following section is substituted there- for :-
Redemption.
4.-(1.) Subject to the provisions of sub- sections (2) to (8), both inclusive, of this section, the bonds shall be redeemable at par on the 1st day of November, 1928, from and after which date all interest on the principal moneys represented thereby shall cease and determine, whether payment of the principal shall have been demanded or not.
(2.) At any time or times after the 31st day of October, 1921, the Governor may approve of the redemption by purchase of bonds of such denominations and to such respective total nominal values as be may from time to time determine.
(3.) At any time or times after the 31st day of October, 1921, the Governor may appoint a day for the drawing by lot of bonds of such denominations and to such respective total nominal values as he may from time to time determine.
(4.) If a day is appointed by the Governor for drawing, the Colonial Treasurer shall give, by advertisement in the Gazette, not less than fifteen days previous notice, specifying the day on which, and the hour and place at which, the drawing will take place, and the denominations and respective total nominal values of the bonds to be drawn.
(5.) On the day and at the hour and place- so specified the Colonial Treasurer shall hold a meeting, at which the holder of any bond may, if he think fit, be present, and shall then in the presence of such bond holders, if any, as may attend, draw by lot, out of the whole number of bonds for the time being outstanding of the respective denominations specified, bonds to such respective total nominal values as shall have been specified.
(6.) The Colonial Treasurer shall there. upon declare the distinguishing numbers of the bonds drawn for redemption, and shall, as soon as may be, by advertisement in the Gazette, specify those numbers and appoint a day, not being earlier than fifteen days from the day of the drawing and not being later than the day on which the then current half-year's interest is payable, on which the principal moneys repre- sented by the bonds so distinguished will be repaid.
(7.) On the day so appointed there shall be paid to the holders of the bonds drawn for redemption, at the head office of the Hong- keng and Shanghai Banking Corporation, the principal moneys repesented by those bonds, with all interest payable thereon up to that day,
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