Rehabilitation Loan.
[CAP. 76
fund in
respect of
loan raised
in London.
6. If the loan hereby authorized or any part of it shall Sinking be issued under the provisions of the General Loan and Inscribed Stock Ordinance, then the first half-yearly contribution to the sinking fund, as contemplated by the provisions of sections 14 and 28 of the said Ordinance, (Cap.72) shall be remitted in respect of any debentures or stock issued under this Ordinance not later than three years after the date on which the first half-yearly payment of interest on such debentures or stock falls due.
1.
where loan
in Colony.
(1) If the loan hereby authorized or any part of Provision it shall be raised in the Colony then the following provisions is raised in respect of the loan or any part of it raised in the Colony shall apply.
(2) The sum to be produced may be raised by one or more issues of bonds in accordance with the provisions of this Ordinance.
(3) The Governor shall in each half-year ending with the day on which the interest on the bonds falls due appropriate out of the general revenue and assets of the Colony a sum equal to one half-year's interest on the whole of the bonds outstanding in order that the interest for the said half-year may be paid therefrom.
(4) The interest on each bond shall be at the rate specified on such bond and shall run from the day named in that behalf on the bond, and shall be paid half-yearly either at the head office of The Hongkong and Shanghai Banking Corporation or at the office of The Chartered Bank of India, Australia and China in Hong Kong on the days named in that behalf on coupons attached to every bond for the payment of such interest.
(5) After the date specified in the prospectus of any loan issued under the terms of this Ordinance as that on which the contribution to a sinking fund shall commence, the Governor shall in each half-year ending as aforesaid further appropriate out of the said general revenue and assets for the formation of a sinking fund a sum equal to one-half of the annual contribution specified in the prospectus and the money so appropriated shall be remitted to the Crown Agents for the formation of a sinking fund and the Crown Agents as trustees shall invest the money so
495