190. The Stamp (New Territories) (Exemption and Modification) (Amendment) Regulations 1969 made amendments to the principal Regulations consequential upon the amendments to the Stamp Ordin- ance referred to in paragraphs 188 and 189.
191. The Security of Tenure (Domestic Premises) Ordinance 1970 gave temporary security of tenure to tenants of domestic premises pending the enactment of more comprehensive legislation.
192. The Perpetuities and Accumulations Ordinance 1970 brought the law of Hong Kong governing perpetuities and accumulations into line with that now in force in England by adopting the provisions of the Perpetuities and Accumulations Act 1964, as far as they are appro- priate to the circumstances of Hong Kong, and some allied provisions of the Law of Property Act 1925. The Ordinance inter alia exempts options for the purchase of leasehold reversions from the perpetuity rule, and provides that the perpetuity period for other options to which the rule applies will be 21 years.
Companies
193. The Corporate Bodies Contracts Ordinance 1969 amended the law governing the making of contracts by or on behalf of bodies corporate to which section 32 of the Companies Ordinance does not apply. The new Ordinance abolished the common law rule, to which there were numerous exceptions, that contracts entered into by a corporation were unenforceable unless they were executed under seal. Section 4 of the Ordinance repealed section 13 of the Registered Trustees Incorporation Ordinance.
194. Section 344(2) of the Companies Ordinance, which restricts offers in writing to the public of shares for purchase, does not apply if the shares are quoted on, or permission to deal in them has been granted by, a recognized stock exchange. The omission of the Companies Ordinance to define a recognized stock exchange was rectified by the Companies (Amendment) Ordinance 1970, which added a definition of 'recognized stock exchange in the Colony'. The Ordinance empowers the Governor in Council to declare any body of persons corporate or unincorporate carrying on in the Colony the business of dealing in shares to be a recognized stock exchange for the purposes of the Ordinance, and also provides for the revocation of recognition.
195. The Companies (Prevention of Evasion of the Societies Ordin- ance) Ordinance was extended for a further period of one year with
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