Objects and Reasons.
1. This Amendment Bill when enacted will repeal sections 2 and 3 of the principal Ordinance and substitute two sections which represent their effect as modified by agreement contained in instructions received from the Secretary of State.
2. The new section 2 corresponds with section 2 of the Straits Settlements Ordinance No. 64 (Defence Contribution) and also with the first paragraph of the repealed section 3 of the principal Ordinance.
3. The new section 3 (1) corresponds with section 3 (1) of the Straits Settlements Ordinance and with the repealed section 2 of the principal Ordinance with the exception of the inclusion of a saving reference to sub-sections (2), (3) and (4) and of the omission of the reference to land sales, premia on leases and statutory land grants which are now included in sub-section (2) of the new section 3.
4. The new section 3 (2) gives a list of sources of revenue excluded.
Paragraph (i), relating to land sales, comes from the latter part of the repealed section 2.
Paragraph (ii), relating to condemned stores, appears in Appendix II of the draft Estimates for 1934 as authorised by C.Ö. despatch 129 of 29th April, 1922.
Paragraph (iii), relating to Gap Rock Lighthouse, ex- presses the agreement by the Army Council in paragraph 4 of the War Office letter of the 25th April, 1932, enclosed with the Secretary of State's despatch of the 3rd June, 1932.
Paragraph (iv), relating to anti-piracy escorts, and para- graph (v) relating to overpayments, expresses the agreement by the Army Council in paragraph 5 of the said letter.
Paragraphs (vi) and (vii), relating to transfers to revenue under Colonial Regulation 275 formerly numbered 291 and to profits from the appreciation of investments when realised, represent the understanding referred to in Colonial Office letter of 14th October, 1932, to the War Office enclosed with the Secretary of State's Despatch of the 22nd October, 1932.
Paragraph (viii) refers to section 5 of the Widows and Orphans Pension Ordinance, No. 15 of 1908, the consolidation of which with its amending ordinances is in course of pre- paration.
Paragraph (ix) refers to the War Loan Ordinance, 1916, (No. 12 of 1916), which has not been repealed although the loan authorised and raised thereunder has been repaid, to the Public Works Loan Redemption Ordinance, 1933, (No. 15 of 1933), and to the Hong Kong Dollar Loan Ordinance, 1934, (No. 11 of 1934), under which a sum not exceeding $25,000,000 is to be raised by borrowing for various projects, including the redemption last year, at a cost of $3,864 943 of the balance of the Hong Kong 31% Inscribed Stock 1918/43.
Paragraph (x) refers to section 9 (8) of Ordinance No 41 of 1912, the operation of which Ordinance is, however, suspended by Proclamation No. 3 in the Hong Kong Govern- ment Gazette of the 7th February, 1913.
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