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I was introduced by Mr. J. Keswick to amend the law in respect of the sale of shares in Companies registered under the Hongkong Companies Ordinances and in other Joint Stock Companies.
The Bill was only read a first time as the matter was too important a one to dispose of until it had received the careful attention of Government, and until the community in general had been given opportunity to express an opinion upon it.
Mr. Keswick explained that the object of the proposed Ordinance, which is based on the Imperial Act 30 Vic. ch. 29 commonly called Leeman's Act, is to do away with what are known as time bargains i.e. contracts to sell for delivery at a future date shares the seller does