ne of the rights he Crow and of
sin other rights
a of Ordinance of 1919
268
B. Nothing in this Ordinance shall affect or be deemed to affect the rights of his Majesty the
King, His Heirs and Suocessors or the rights of any body politic or corporate or of any other
persons except such as are mentioned in this Ordinance and those claiming by from and under
then.
6. The Bank of Canton (capital Conversion)
Ordinance 1919 is repealed.
incement
7.
This Ordinance shall not come into operation until His Majesty's pleasure shall have been signified by a Government Notification of non- disallowance published in the Gazette.
OBJECTS AND REASONIS
The Bank of Canton Limited was incorporated in Hongkong in 1912 with a capital of $2,000,000. In 1919 in pursuance of special resolution under Section 3 of Ordinance No.6 of 1919 the capital was converted into sterling and increased to
£1,000,000. It has since been increased further
to £1,200,000. The Conversion of the Capital from silver into gold was at the time considered desirable in view of anticipated extensions of business in and large subscriptions to come from "Gold" countries but in practise such anticipat- ions have only partially been realised, and the
2.
Directora