C.S.O. 929/28.
734
[No. 16-10.9.30.--1.]
A BILL
Short title.
Amendment of Ordinance No. 11 of 1907, s. 3.
INTITULED
An Ordinance to amend the Life Insurance
Companies Ordinance, 1907.
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 Life Insur- ance Companies Amendment Ordinance, 1930.
2. Section 3 of the Life Insurance Companies Ordi- nance, 1907, is amended by the addition of the follow- ing sub-section at the end thereof :-
(8) For the purposes of this Ordinance the office of Registrar shall have perpetual succession. All securities, other than bank deposits in the name of the Official Trustee, which are or may be deposited with the Registrar under this Ordinance shall be deemed to be vested in the Registrar for the time being and the person for the time being performing the duties of the office shall have power to deal with the legal estate without any further transfer or con- veyance.
Objects and Reasons.
Section 3 of the Life Insurance Companies Ordi- nauce, 1907, provides for the deposit of securities with the Registrar of Companies; but does not provide for the continuity of that office so as effectually to pass the legal estate to successive holders of the office.
This Bill removes that difficulty by an amendment on the lines of section 3 (2) of the Trustees Ordinance, 1901, which makes similar provision in the case of successive holders of the office of Official Trustee.
C. G. ALABASTER,
August, 1930.
C.S.O. 5654/28
Short title.
Attorney General.
[No. 18:-10.9.30.-1.]
A BILL
•
INTITULED
An Ordinance to incorporate the Colonial
Treasurer.
*
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 Colonial Treasurer Incorporation Ordinance, 1930.