N
THE NATIONAL ARCHIVES
00069
2
cma
Ref.:
THE NATIONAL ARCHIVES
CO 537/1369
restrictions. Further information is given in the enclosed Terms and Conditions of supply of National Archives' leaflet. Please note that this copy is supplied subject to the National Archives' terms and conditions and that your use of it may be subject to copyright
Ins
68
(2) As soon as possible after the end of the
rinancial year commencing on 1st day of January,
1946, and of each succeeding financial year
thereafter until the total amount of the
certificates of indebtedness issued under this
subsection amount to the sum of $16,000,000, in
a sum equal to the proportion of the net income
of the Exchange Fund referred to in section 6
of the Currency Ordinance, 1935, for the
preceding year which corresponds to the
proportion which the sum of $16,000,000 bears to
the sum of $119,800,000 less the dollar
equivalent of the sum of £1,000,000 sterling
and the dollar equivalent of the sum to be paid
when ascertained as provided in this section, and
in consideration of the issue of the said
certificates of indebtedness to require from the
Hong Kong and Shanghai Banking Corporation -
(a) the payment of the sum of £1,000,000
sterling to the said Exchange Fund, on the
issue of the certificate of indebtedness
(b)
for $103,800,000, and
when the amount has been ascertained
the payment by the Hong kong and
Shanghai Banking Corporation to the
said Fund of a sterling sum at a rate of
exchange of 1/3d. to the Hong Kong
dollar equivalent to the face value of
that portion of the notes referred to in
section 2 which when first put into
circulation were used or may be deemed
to have been used in discharge of any
legal liability of the Hong Kong and
Shanghai Banking Corporation.
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