المالية
381
to
any
other purpose than that of paying
the notes. I am to ask
you
whether the
Bank would be able to make such a
special appropriation of a part of its assets for the exclusive benefit of one
class o
of
its exeditors
or whether such
a power could properly be conferred by
Ordinance of the Colony
or otherwise.
A copy of the Hong Kong
Ordinance No 50
!5 of
1866 relating
to the
Hong Kong and Shanghai Bank is
-enclosed for your information, and should
be returned with
The Solicitor.
your reply.
I have to.
(Sd) C.G. Barrington.
The Section
of
the
Banking Act 1879, (42/43 Vict. c. 76) referred to in Mr.
6. Section
one hundred and eighty two of
the Companies Act 1862 is hereby repealed, and in place thereof it is enacted as follows: - A bank of issue registered
as a
limited
after the
company,
passing of
either
before
this Act, shall
not be entitled to limited liability in respect of its notes; and the members thereof shall continue liable in respect of its notes in the same manner as if it had been registered
Company;
assets of
as an unlimited
but in case the general
the Company are, in the event of the company being wound up. insufficient to satisfy the claims of both the noteholders and the general creditors, then the members, after satisfying. the remaining demands of the noteholders,
shall
Barrington's letter, is
ao
follows:
6
2