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ALL COMMUNICATIONS TO BE ADDRESSED TO THE CROWN AGENTS FOR THE COLONIES, THE ABOVE REFERENCE AND THE DATE OF THIS LETTER BEING QUOTED, TEL. ADD. CROWN, LONDON" PRESSING.
1.2.06
Sir,
FOR USE IN CO 88 COLONIAL OFFICE Hong Kong Loan REC C.O. *2913 (REG 27 JAN 6) WHITEHALL GARDENS, LONDON, S.W. 26th January 467 1906.
I have the honour to acknowledge the receipt of your letter of the 18th instant No. 1103/05-06 enclosing a copy of the Hong Kong Ordinance No.12 of 1905 which has been passed to amend the General Loan and Inscribed Stock Ordinance (1893) and requesting our observations in the matter.
2. In reply I regret to state that the Ordinance is in our opinion quite inadequate for the purpose for which it has been passed and there is a mistake in it which would appear to render it inoperative viz. in section 2 of the Ordinance reference is made to "the provisions of section 3 of the Principal Ordinance" &c. &c. whereas on reference to the Principal Ordinance it is obvious that the section to which reference should have been made is 2 and not 3.
3. Section 2 of the amending Ordinance appears also to limit the discretion given to us to the conditions as to the repayment of such debentures as the Crown Agents with the approval of the Governor may prescribe whereas it is evident that there are many other matters apart from the repayment of the debentures for which it is necessary &c &c &c
Under Secretary of State Colonial Office