014
THE HUNGRUNU GÜVERNMENT GAZEIIE, STH MAY, 1886,
If Sinking Fund insufficient,
Colony to make good deficiency.
Expenses
parable out of Staking Fund.
$
11. In case the Sinking Fund shall be insufficient for the payment of all the principal moneys borrowed under · the authority of this Ordinance at the time the same shall- have becom due, the Governor shall make good the deficiency of the General Revenues and Assets of the Colony,
12. All expenses of, or incidental to the management of the Sinking Fund, or the repayment of the principal moneys to be borrowed under this Ordinance, shall be paid out of the Sinking Fund.
Passed the Legislative Council of Hongkong, this 21st day of April, 1886.
ARATHOON SETH, Clerk of Councils.
Assented to by His Excellency the Officer Administering the Government, the 7th day of May, 1886.
1
LS
W. H. MARSH.
FREDERICK STEWART,
Acting Colonial Secretary,
Short Title.
Commence- ment
[41 & 42 V. c. 31, L. 2 & 3.]
Repeal of Ordinance Na. 10 of 14. [41 & 42 V. c. 31, & 23.3
Interpretation
of T 'rmas.
[41 & 42 V. c. 31, s. 4.3
No. 12 or 1886.
An Ordinance enacted by the Governor of Hong- kong, with the advice of the Legislative Council thereof, to consolidate and amend the Law for preventing Frauds upon Creditors by Secret Bills of Sale of Personal Chattels.
BE
[7th May, 1886.]
E it enacted by the Governor of Hongkong, with the
advice of the Legislative Council thereof, as follows:- 1. This Ordinance may be cited for all purposes as The Bills of Sale Ordinance, 1886.
2. This Ordinance shall commence and come into opera- tion on a day to be named by the Governor, and shall apply to every Bill of Sale executed after such commencement (whether the same be absolute, or subject or not subject to any trust), whereby the holder or grautee has power, either · with or without notice, and either immediately or at any future time, to seize or take possession of any personal chattels within the Colony comprised in or made subject to such Bill of Sale.
3. From and after the commencement of this Ordinance the Bills of Sale Ordinance, No. 10 of 1864, shall be repeal- ed: Provided that (except as is herein expressly mentioned with respect to construction and with respect to renewal of registration) nothing in this Ordinance shall affect any Bill of Sale executed before the commencement of this Ordinance, and as regards Bills of Sale so executed the Ordinances hereby repealed shall continue in force.
Any renewal after the commencement of this Ordinance of the registration of a Bill of Sale executed before the commencement of this Ordinance, and registered under the Ordinance hereby repealed, shall be made under this Ordinance in the same manner as the renewal of a registra- tion made under this Ordinance.
4. In this Ordinance, the following words and expressions shall have the meanings in this Section assigned to them respectively, unless there be something in the subject or context repugnant to such construction; that is to say:-
The expression Bill of Sale shall include Bills of Sale, assignments, transfers, declarations of trust without transfer, inventories of goods with receipt thereto attached, or receipts for purchase moneys of goods, and other assurances of personal chattels, and also powers of attorney, antliorities, or licenses to take possession of personal chattels as security for any debt, and also any agreement, whether intended or not to be followed by the execution of any other instrument, by which a right in equity to any personal chattels, or to any charge or security thereon, shall be conferred, but shall not include the following documents; that is to say, assign- ments for the benefit of the ereditors of the person making or giving the same, marriage settlements, transfers or assignments of any ship or vessel or any share thereof, transfers of goods in the ordi- nary course of business of any trade or calling,