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Debentures converti- ble into inscribed
stock on conditions
prescribed by Crown
10.
326
(a)
He may authorise the Crown Agents
when issuing any loan in the form of debentures
Agents at time of issue. to declare that such debentures will be con-
vertible into inscribed stock at such dates and
on such terms and conditions as may be
prescribed by the Crown Agents at the time of
the issue of the debentures.
Conversion of loans generally.
Creation and issue of stock in exchange for other securities.
Creation and sale of inscribed stock or debentures to raise loans and for other purposes.
arrangements for
conversion,
Exchange of securities
for inscribed stock.
(10) He may declare all or any of the
Hong Kong loans, whether existing in the form
of stock or debentures, to be convertible into
inscribed stock, to be issued under the
provisions of this Ordinance,
(c) He may authorise the creation and
issue of such an amount of inscribed stock i
exchange for the securities held for such
Joans as may be necessary,
(a) He may authorise the creation and
sale of any such inscribed stock or debentures
for the purpose of raising money for redeeming
any outstanding Joans, for paying any expense
in the creation of inscribed stock, and
otherwise for carrying out the provisions of
this Ordinance.
(e) Any conversion so authorised may be
effected either by an arrangement with the
holders of existing securities or by purchase
thereof out of moneys raised by the sale of
inscribed stock, or partly in one way and
partly in the other.
32. Nothing in this Ordinance contained
shall authorise an increase of the capital or
of the annual charge on any loan, except
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