Issue of Duplicate Bonds.
CHAPTER 254.
ISSUE OF DUPLICATE BONDS.
[CAP. 254
To authorize the Accountant General to issue duplicate bonds in lieu of bonds issued under the Public Works Loan Redemption Ordinance, 1933 and the Hong Kong Dollar Loan Ordinance (Chapter 73 of the Revised Edition) which have since been lost or destroyed.
[22nd October, 1948]
1. This Ordinance may be cited as the Issue of Duplicate Bonds Ordinance.
Short title.
2. In this Ordinance-
Interpretation.
"relevant Ordinances" means the Public Works Loan Redemption Ordinance, 1933 and the Hong Kong Dollar Loan Ordinance.
(15 of 1933.)
3. The Accountant General may in his absolute discretion, on being satisfied by such evidence as he shall deem sufficient that a bond issued under either of the relevant Ordinances has been lost or destroyed, issue a fresh bond to the person who in his opinion would at the time of such issue be entitled to be the holder of the bond so lost or destroyed.
(Cap. 73.)
Accountant General may issue fresh bonds for lost or destroyed bonds.
4. Except in cases where upon the destruction of a bond issued under either of the relevant Ordinances an acknowledgment in writing of Government's continued indebtedness is held by the applicant for a fresh bond, the Accountant General may make the issue of a fresh bond conditional upon such indemnity and guarantee being entered into as he may in his absolute discretion require.
Indemnity and guarantee required where acknowledgment of Government's continued indebtedness does not exist.
5. (1) Any fresh bond issued under the provisions of this Ordinance shall, so far as possible and subject as hereinafter provided, be a duplicate of the lost or destroyed bond in place of which it is issued: Provided that—
(a) there shall be removed from such bond by the Accountant General such number of coupons as shall represent the interest that has been paid at the date of issue; and
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Form and effect of fresh bond.