Ex
Sanctioned.
Minkuce v.1.1899.
An Ordinance to amend Ordinancs 5 of 1866 and the Hongkong and Shanghai Bank Ordinanoe Amendment Ordinance 1882
(13 Feby.1899)
Be it enacted &o.
58
1.This ordinance may be oited &o.
2.The Co.shall at all times keep deposited either with the Crowm Agent for the Colonies in London,or with Trustees to be appointed by the Secretary of State for the Colonies,or partly with such Crown Agents and partly with such Trustees,coin of denominations to be approved by the Secretary of State for the Colonies,or Securities to be so approved, or partly such coin, and partly such securities equal to one third of the total paid up Capital of the Company, namely, ten million dollars, such coin or securities or such coin and securities to be held by the Crown Agents, or by the said Trustees separately or jointly as special funds exolusively available for the redemption of the bills and notes payable to bearer on demand issued by the Company, and in the event of the Company becoming insolvent to be applied accordingly as far as may be necessary, but without prejudice to the rights of the holders of such bills and notes to rank with other oreditors of the Company against the assets of the Company.
3.Notwithstanding the restriction imposed by the thirteenth seotion of the Principal Ordinance,as amended by the said Ordinance No.21 of 1882 upon the total number of the bills and notes of the Company payable to bearer on demand sotually in circulation,bills and notes of the Company payable to bearer on demand may,for the period of one year from the 31st. day of July 1898 be issued and be in actual oiroulation to an
amount in excess of the capital of the Company actually paid
up