W.
HONG KONG.
No. 24 or 1940.
I assent.
Officer Administering the GovernÆLENÍ,
30th August, 1940.
An Ordinance to amend the Fire and Marine Insurance
Companies Deposit Ordinance, 1917.
[30th August, 1940.]
Bu it enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof, as follows:
1. This Ordinance may be cited as the Fire and Marine Short title. Insurance Companies Deposit Amendinent Ordinance, 1940.
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2. Sub-section (2) of section 5 of the Fire and Marine Amendment Insurance Companies Deposit Ordinance, 1917, is repealed of Ordinance and the following sub-section is substituted therefor --
1917,
• 5 (3).
(2) The deposit shall consist of securities of the follow- [el. Ordin- ing nature--
maca No. 18 of 1934,
(a) fixed deposits in banks approved by the Governor in 41. Council;
(b) stocks, funds or securities, other than the security of a charge on land by way of legal mortgage or otherwise, authorized by the Trustee Act, 1925, or in any manner which may be authorized by any Act amending or replacing the said Acb;
(c) any Government securities of the Colony:
Provided that any company which has, before the 1st day of July, 1940, deposited securities not of the aforesaid nature shall have a period of three years from such date to replace such securities by securities of the aforesaid nature.
Passed the Legislative Council of Hong Kong, this 20th day of August, 1940.
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Deputy Clerk of Councils.