Conversion
of currency
procevture.
3. It shall be competent for the company to convert into of capital: sterling the currency of its capital (both authorized and issued) and to alter accordingly the denomination of the shares into which its capital is divided and such conversion and alteration may be effected in the following manner-
Iezme of fresh
certificate
of in-
(a) by special resolution of the Company authorizing such conversion and alteration and specifying in detail the manner and the date on which such conversion and alteration is to Lake place; and
(6) by filing with the Registrar within one month of the passing of such resolution a certificate under the seal of the Company countersigned by the auditors of the Company certifying that such resolution(has been duly passed and that in the opinion of the directors of the Company and of such auditors the net assets of the Company had at a date stated in the resolution which shall for all purposes be regarded as the date of con- version a value equivalent at the least to the amount of such converted capital as has been paid up:
Provided that the date stated in the resolution shall be a dare not earlier than the date of the resolution by more than twelve months.
4. Upon the filing of any such certificate as is referred to in paragraph (b) of section 3, the Registrar shall issue a fresh certificate of incorporation of the Company showing the capital corporation of the Company as affected by such conversion and alteration. Such fresh certificate shall take the place of the original certificate of incorporation of the Company and shall be the certificate of incorporation of the Company.
Saving.
5. Nothing in this Ordinance shall affect or be deemed to affect the rights of Her Majesty the Queen, Her Heirs and Successors, or the rights of any body politic or corporate or of any other persons except such as are mentioned in this Ordinance and those claiming by, from or under them.
Passed the Legislative Council of Hong Kong, chis 18th day of November, 1953-
(Secretariat 20/3231/53)
Deputy of Councils.
HONG KONG
No. 36 OF 1953-
1 assent.
Governor's Deputy.
3rd December, 1953.
An Ordinance to amend the Crown Rights (Re-entry) Ordinance,
Chapter 126.
[4th December, 1953.]
Be 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 Crown Rights Short title. (Re-entry) (Amendment) Ordinance, 1953.
2. Section 5 of the Crown Rights (Re-entry) Ordinance Amend- (hereinafter referred to as the principal Ordinance) is amended by ment of
section 5. the deletion from the third line of the word "twelve", and the (Cap. 126). substitution therefor of the following-
"six".
3. The principal Ordinance is amended by the addition, Addition after section 11, of the following new section-r
"Accept-
ance of rent not
to operate
# ##
waiver of right of re-entry or
forfeiture.
12. The acceptance of rent by or on behalf of the Crown shall not operate as a waiver by the Crown of any right of re-entry accruing or of any forfeiture incurred by reason of either the breach of any covenant in a Crown lease or the breach of any condition or stipulation in any tenancy of land held of the Crown."
of new section 12.