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Allocation of deposits in respect of ordinary note issue.
Allocation of deposits in respect of excess note issue.
said Ordinance were the sum of $20,000,000, and as if
the conditions imposed by the last portion of the said Section 22 in respect of any issue in excess of
£10,000,000 had not been made.
(c).
Sub-section (2) of Section 13 of the said
Ordinance is hereby amended by authorising and making it lawful for the Company to keep deposited such coin or securities, or such coin and securities, as are therein referred to not only in the Colony but partly in the Colony and partly in other places where bills
and notes are from time to time issued from an
establishment of the Company, provided that the amount
of such deposits shall in the aggregate be equal to
one-third of the present total paid-up capital of the
Company, namely £20,000,000, and provided that such
deposite shall in all cases be made with such trustees
or custodians as may be appointed or approved by the
Governor.
(a). Sub-section (3) of Section 13 of the said
Ordinance is hereby amended by authorising and making
it lawful for the Company to keep deposited such coin
er bullion, or coin and bullion, as are therein
referred to, not only in the Colony but partly in the
Colony and partly in other places where bills and
notes of the Company are from time to time issued,
provided that the amount of such deposits shall in the aggregate be equal to the whole value of the issue of
bills and notes in excess of the present total paid-up capital of the Company (namely £20,000,000) for the
time being actually in circulation, and provided that such deposits shall in all cases be made with such
trustees or custodians as may be appointed or approved
by the Governor.