458
LEGISLATIVE COUNCIL.
459
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.S.O. 626/1925.
[No. 11-30.6.25.-1.]
A BILL
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 10th 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 carrying over of shures until the June settlement day ".-The Bifl also provides for the payment of interest at the rate of 8% per annum, during sich period of postponement, in respect of every sum of money due and payable under the above contracts on June senilement day.
INTITULED
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,-
(a)June settlement day
June, 1925.
Interpreta-
tion,
means the 23rd day of
(b) Shares" include any shares in any stocks or funds transferable at the Bank of England or at the Bank of Ireland, and India promissory uotes, and suy honds or debentures and any shares in the stocks or funds of any foreign or colonial state or government, or in the capital, stock or fandel debt of any county council, corporation, company, or society in the United Kingdom, or in the Colony, or of any foreigu or colonial corporation, company or society.
3. Every contract for the purchase or sale of shares for Extension the Jane 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 betweon 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 ind agreed inter se that interest at the rite of eight per cent. per annum should be paid from the June settlement day fill the 14th day of July, 1925, in respect of every sum of money due and payable un fer the said contracts on the June settlement day.
4. Every contract, which is referred to in section 3. Validation of shall be deemed ut ali chines to have been and is hereby contracts in declared to be 'valid and enforceable by legal proceedings section 3. notwithstanding that the same wis not porformed on the -June settlement day or on any other date prior to the 14th day of July, 1925.
b. No person shall be allowed to claim or plead in any Chim or plea legal proceedings, whether institute before or after the of invalidity commencement of this Ordinance, that any of the contracts etu, barrel. 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.
30th June, 1925.
H. E. POLLOCK,
Attorney General.
NB-It is proposed to move the suspension of the Standing Orders so as to enable the above Bill to he passed through all its stages at one sitting of the Legisla- tive 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 harbour from 20th April. 16th April, 1924.
Thirl class passengers and new crew must comply with the vaccination requirements.
3rd July, 1925.
Keference to Government Notification.
CLAUD SEVERN,
Colonial Secretary.
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