1326
THE HONG KONG GOVERNMENT GAZETTE, AUGUST 30, 1940.
HONG KONG.
L.S.
No. 24 of 1940.
I assent.
E. F. NORTON,
Officer Administering the Government.
Short title.
Amendment
30th August, 1940.
An Ordinance to amend the Fire and Marine Insurance
Companies Deposit Ordinance, 1917.
[30th August, 1940.]
BE it enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof, as follows:-
1. This Ordinance may be cited as the Fire and Marine Insurance Companies Deposit Amendment Ordinance, 1940.
2. Sub-section (2) of section 5 of the Fire and Marine of Ordinance Insurance Companies Deposit Ordinance, 1917, is repealed
and the following sub-section is substituted therefor :-
No. 32 of 1917, s. 5 (2).
[cf. Ordin- ance No. 18 of 1934,
s. 4].
(2) The deposit shall consist of securities of the follow- ing nature-
(a) fixed deposits in banks approved by the Governor in Council;
(b) stocks, funds or securities, other than the security of a charge on land by way of legal mortgage or otherwise, authorized by the Trustee Act, 1925, or in any manner which may be authorized by any Act amending or replacing the said Act;
(c) any Government securities of the Colony:
Provided that any company which has, before the 1st day of July, 1940, deposited securities not of the aforesaid nature shall have a period of three years from such date to replace such securities by securities of the aforesaid nature.
Passed the Legislative Council of Hong Kong, this 29th day of August, 1940.
C. BRAMALL BURGESS,
Deputy Clerk of Councils.