186
THE HONGKONG GOVERNMENT GAZETTE, 22ND APRIL, 1876.
Title.
Preamble.
HONGKONG.
ANNO TRICESIMO NONO
VICTORIA REGINE.
SIR ARTHUR EDWARD KENNEDY, K.C.M.G., C.B., Governor and Commander-in-Chief
No. 4 CF 1876.
An Ordinance enacted by the Governor of Hongkong, with the advice of the Legislative Council thereof, to authorise "The China Traders' Insurance Com- pany, Limited," to sub-divide its shares.
W
[22nd April, 1876.]
HEREAS "The China Traders' Insurance Company, Limited" is a Public Company duly Incorporated and Limited by shares under the provisions of the The Companies Ordinance, 1865," and whereas the Memorandum of Association of the said Company provides that the Capital of the Company is one million of dollars divided into two hundred shares of five thousand dollars each, and whereas the whole of the said shares have been issued, and the sum of one thousand dollars has been paid up on each share, and a further call of five hundred dollars upon each share has been made, and whereas the said Company has found that shares of five thousand dollars each are too large to be readily marketable, and the Company is therefore desirous of sub-dividing the existing shares into shares of smaller amount, and whereas the said Company in order to effectuate its desire has applied to have the necessary powers therefor conferred upon it by means of this Ordinance: Be it therefore enacted by the Governor of Hongkong, with the advice of the Legislative Council thereof, as follows:-
Interpretation. 1. In the interpretation of this Ordinance, the expression "The Company" shall mean "The China Traders' Insurance Company, Limited."
Shares may be divided into shares of smaller
amount.
II. It shall be lawful for the Company, by special resolution, to modify the conditions contained in its Memorandum of Association so as by sub-division of its shares or any of them to divide its Capital or any part thereof into shares of any amount not less than fifteen hundred dollars each provided that in the sub-division of the existing shares, the proportion between the amount which is paid, and the amount which is unpaid on each share of reduced amount shall be the same as it was in the case of the existing share or shares, from which the share of reduced amount is derived. III. The Statement of the number and amount of the shares into which the Capital of the Company is divided contained Memorandum in every copy of the Memorandum of Association issued after the of Association, passing of any such special resolution, shall be in accordance with such resolution, and if the Company make default in com- plying with the provisions of this section, it shall incur a penalty not exceeding five dollars for each copy in respect of which such default is made, and every Director, Manager and Secretary of the Company who knowingly or wilfully authorises or permits such default shall incur the like penalty. All such penalties may be recovered before a Magistrate in a summary way.
Special resolution to he embodied in
IV. This Ordinance shall come into force on such day as shall be hereafter fixed by proclamation under the hand of the Governor.
Passed the Legislative Council of Hongkong, this 22nd day of April, 1876.
H. ERNEST WODEHOUSE,
Clerk of Councils.
No. 77.
GOVERNMENT NOTIFICATION.
The following Return of the Revenue and Expenditure of the Colony for 1875 is published for general information, with the Comparative Statement for the years 1874 and 1875.
By Command,
Colonial Secretary's Office, Hongkong, 20th April, 1876.
J. GARDINER AUSTIN, Colonial Secretary.
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