458
LEGISLATIVE COUNCIL,
Draft Bill.
No. S. 178.-The following bill, which it is proposed to introduce into the Legislative Council on Thursday, the 9th July, 1925, is published for general informa- tion:-
C.8.0. 628/1925.
[No. 11-30.6.25.-1.]
A BILL
INTITULED
459
Objects and Reasons.
The object of this Bill is to provide for the postponement
of the date of the June settlement from the 23rd day of June till the 14th day of July, 1925, and to validate, notwithstanding such postponement every contract for the purchase or sale of shares for the June settlement day and every contract for the currying over of shares natil the June settlement day".-The Bill also provides for the payment of interest at the rate of 8% per annum, during such period of postponement, in respect of every sum of money due and payable under the above contracts on June seulement day.
An Ordinance relating to the postponement of
the June Settlement.
Be it enacted by the Governor of Hongkong, with the advice and consent of the Legislative Council thereof, as follows:
1. This Ordinance may be cited as the June Settlement Short title. Ordinance, 1925.
2. In this Ordinance,-
11
(a) "Juue settlement day means the 23rd day of
June, 1923,
(6) "Shares" include any shares in any stocks or funds transferable at the Bank of England or at the Bank of Ireland, and India promissory notes, and any bonds or debentures and any sharos in the stocks or fnuds of any foreign or colonial state or governinent, or in the capital, stock or fundel debt of any county council, corporation, company, or society in the United Kingdom, or in the Colony, or of any foreign or colonial corporation, company or society.
Interpreta-
tion,
3. Every contract for the purchase or sale of shares for Extension the June settlement day and every contract for the carry of contracts ing over of shares until the June settlement day shall be for June construed in every Court of law as if, prior to the June day.
settlement settlement day, a duly stamped agreement for valuable con- Rate of sideration had been made between all the parties to all interest such contracts inter se for the extension of the time for chargeable. the performance of the said contracts until the 14th day of July, 1925, and as if all the parties to all such contracts hul agreed inter se that interest at the rite of eight per cent. per aumum should be paid from the Juno settlement day fill the 14th day of July, 1925, in respect of every sum of money due and payable un ler the said contracts on the June settlement day.
4. Every contract, which is referred to in section 3. Validation of shall be deemed at all times to have been and is hereby contracts in declared to be "valid and enforceable by legal proceedings section 3. notwithstanding that the sune was not performed on the June settlement day or on any other date prior to the 14th day of July, 1925,
3. No persou shall be allowed to claim or plead in any Chim or pies legal proceedings, whether instituted hefore or after the of invalidity cominoucement of this Ordinance, that any of the contracts etc., barred. which are referred to in section 3 became or is invalid or otherwise unenforceable by legal proceedings by reason of the non-performance of any such contract on the June settlement day or on any other date prior to the 14th day of July, 1925.
3th June, 1925.
II. E. POLLOCK,
Allorney General,
NB. It is proposed to move the suspension of the Standing Orders so as to enable the above Bill to be passed through all its stages at one sitting of the Legisla- Live Commeil.
NOTICES.
COLONIAL SECRETARY'S DEPARTMENT.
No. S. 179.-S.atement of Sanitary Measures adopted against Hongkong.
Place or
Port.
Nature of Measures.
Date.
Manila.
Inspections outside Manila larhour from 20th April. Third class passengers and new crew must comply with the vaccination requirements,
16th April, 1924,
3rd July, 1925.
Reference fo Government Notification.
Claup Severn,
Colonial Secretary.
592