LEGISLATIVE COUNCIL RESOLUTION.
TELEPHONE ORDINANCE, 1951.
(Ordinance No. 18 of 1951).
Resolution made and passed by the Legislative Council under section 6 (1) of the Telephons Ordinance, 1951, on the 1st day of October, 1952.
WHEREAS by sub-section (1) of section 6 of the Telephone Ordinance, 1951, the capital of the Hong Kong Telephone Company Limited shall be nineteen million dollars divided into one million nine hundred thousand shares of ten dollars each : Provided that after an amount of fifteen million dollars of such capital shall have been issued no part of the balance shall be issued without the prior consent of the Legislative Council signified by resolution;
AND WHEREAS the said Company has requested such consent and the granting of such consent is considered desirable;
IT IS RESOLVED that consent be given for the said Company to increase its capital beyond the sum of fifteen million dollars by an increase of four million dollars divided into four hundred thousand shares of ten dollars each; but that such shares shall be issued at twelve dollars and fifty cents per share.
Council CHAMBER,
1st October, 1952.
(Secretariat 6/2321/49)
B
Deputy Clerk of Councils.