1950-HKRS30-8-40_Part01 — Page 64

ORDINANCE No. 9 or 1925. (TELEPHONE).

Resolution made and passed by the Legislative Council under section 6 (1) of the Telephone Ordinance, 1925, on the 24th May, 1950.

WHEREAS by subsection (1) of section 6 of the Telephone Ordinance, 1925, the capital of the Hong Kong Telephone Company Ltd. shall be $7,500,000 divided into 750,000 shares of $ro each, and the said Company shall not except with the previous consent of the Legislative Council, make any further issue of shares or otherwise save as in the said Ordinance provided in any manner whatever increase the moneys employed in the said Company's undertaking beyond the sum of $7,500,000.

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 $7,500,000 by an increase of $11,500,000 divided into 1,150,000 shares of $10 each; but that such incrcase shall be effected as follows :-

(a) during the year 1950 the increase shall not exceed

$7,500,000;

(b) thereafter the balance of the said $11,500,000 shall not be issued without the prior approval of the Governor in Council.

24th May, 1950.

Мой

Clerk of Councils.