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shall be liable to contribute towards
payment of the debts of the general
creditors a sum equal to the amount received
by the note holders out of
the general assets of the company.
For the purposes of this
Section the expression "the general
assets
of the
the company
Company "means the
funds available for payment of the
general creditor as well as the
note-holder.
It shall be lawful for any bank of issue registered
as a limited
company
to make a statement on
its notes to the effect that the
limited liability does not extend
to
to its notes, and that the members
of the company
continue liable in
respect of its notes in the same
manner
as if it had been
registered
as an unlimited company.
A copy of the Hong Kong Ordinance is left herewith.
Mr Stirling is requested
to advise on the points raised in Mr Barrington's letter.
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