No
of.
An Ordinance to make provision for raising a Loan of
Whereas it is expedient to raise a loan
for
of
127
the purposes specified in the schedule hereto: Be it therefore enacted by thì Governor of hong Kong by and with the advice and consent of the Legislative Council thereof, as follows:-
(1) This Ordinance may be cited as
(8) In this Ordinance unless the context otherwise requires:
e Lubed.t
The expression "Governor" meɛna the person for the time being administering the Goverment of Hong } on ̧•
The expression the "Crown Agents" means the person or persons acting for the time being as Crown Agents for the Colonies in England.
(3) The Governor or the Crown Agents acting on his behalf may raise by loan in Kon Kon or in London or partly in Hong Kong and partly in Londɔn by one or more issues an amount sufficient to produce in the suɛregate as nearly as may be the sum
and
of
such further sums issue.
may bộ necessary to defray the expenses of
(4) The principal Lonies and interest represented by the loan issued under the provisions of this Ordinance are hereby charged upon and shall be payable out of the general revenue and assets of the Colony of Hong Kong.
(5) 1. Any sums raised to defray the expenses of issue shall be applied only to that purpose.
2. зave as aforesaid the mon-y borrowed under this Ordinance shall be appropriated and applied to the purposes specified in the schedule to this Ordinance.
3. It shall be lawful for the Gov rnor to direct that any sume which may not be required for a purpose specified in the schedule may be appropriated and applied to any other purpose therein specified: Provided that no such transfer of money from one item of the schedule to any other item thereof shall be made unless such transfer shall have been approved by a resolution of the legislative council and by the Secretary of state.
(6) The loan hereby authorised or any part of it in so far as it is raised in London, shall be raised under the provisions of the General Loan and Inscribed Stock Ordinance 1913.
(7) If the loon hereby authorised or any part of it shall be issued under the provisions of the General Loan and Inscribed Stock Ordinance 1915 th n the first half yearly contribution to Sinking Fund, as contemplated by the provisions of Sections 14 and 28 of the said ordinance shall be taken in respect of any debentures or stock issued under this Ordinance not later than three years after the date on which the first half yearly payment of interests on such debentures or stock falls due.
(8) If the loan hereby authorised or any part of it shall be raised in Hong Kong then the following provisions in respect of the loan or any part of it raised in Hong Kong shall apply:-
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