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THE HONGKONG GOVERNMENT GAZETTE, 23RD JUNE, 1877.
His Excellency J. POPE HENNESSY, C.M.G., produces a despatch from Her Majesty's Secretary of State for the Colonies, dated 18th April, 1877, forwarding Letters-Patent under the great Seal of the United Kingdom, dated the 9th April, 1877, permanently constituting the Office of Governor and Commander-in-Chief of Hongkong and its Dependencies, together with a Commission passed under the Royal Sign Manual and Signet, and dated 10th April, 1877, appointing JOHN POPE HENNESSY, Esquire, to be Governor and Commander-in-Chief of Hongkong, and its Dependencies.
The despatch with the Letters-Patent and the Commission are read by direction of His Excellency. The Honourable the Chief Justice then administers the Oath of Allegiance and the Official Oath to
His Excellency, under the usual salutes.
Read and confirmed, this 21st day of June, 1877.
H. E. WODEHOUSE,
Clerk of Councils.
HONGKONG.
ANNO QUADRAGESIMO-PRIMO VICTORIA REGINE.
JOHN POPE HENNESSY, C.M.G., Governor and Commander-in-Chief.
No. 1 OF 1877.
J. POPE HENNESSY,
An Ordinance enacted by the Governor of Hongkong, with the advice of the Legislative Council thereof, to amend "The Companies Ordinance, 1865," and to repeal Ordinance No. 4 of 1876.
[21st June, 1877.]
Governor.
Title
HEREAS it is expedient to extend to all Companies Preamble.
W limited by shares and registered in the Colony the
power of sub-dividing their shares, and to amend "The Com- panies Ordinance, 1865;" Be it enacted by the Governor of Hongkong, with the advice of the Legislative Council thereof, as follows:- •
I. Ordinance No. 4 of 1876 is hereby repealed.
Ordinance No. 4 of 1876 repealed.
II. This Ordinance may be cited as "The Companies Ordinance, Short title. 1877."
as one with
III. "The Companies Ordinance, 1865" is hereinafter referred Ordinance to to as "The Principal Ordinance; and this Ordinance are hereinafter distinguished as and may be No. 1 of 1865.
and the principal Ordinance he construed cited as "The Companies Ordinances, 1865 and 1877;" and this [30 & 31 Vic. Ordinance shall, so far as is consistent with the tenor thereof, be c. 131 s. 2]. construed as one with the principal Ordinance; and the expres- sion "This Ordinance" in the principal Ordinance, and any ex- pression referring to the principal Ordinance, which occurs in any Ordinance, or other document, shall be construed to mean the principal Ordinance as amended by this Ordinance.
Unlimited Liability of Directors.
with unlimited
IV. Where after the commencement of this Ordinance a com- Company may pany is formed as a limited company under the principal Ordi- bave directors nance, the liability of the directors or managers of such company, liability. or the managing director, may, if so provided by the memoran- [sec. 4]. dum of association, be unlimited.
and present,
V. The following modifications shall be made in the thirty- Liability of seventh section of the principal Ordinance, with respect to the director, past contributions to be required in the event of the winding-up of a where liability limited company under the principal Ordinance, from any director is unlimited. or manager whose liability is, in pursuance of this Ordinance, [see. 5]. unlimited:
(1.) Subject to the provisions hereinafter contained, any such director or manager, whether past or present, shall, in addition to his liability (if any) to contribute as an ordinary member, be liable to contribute as if he were at the date of the commencement of such winding-up a member of an unlimited company :