1953-HKRS28-8-20_Part04 — Page 3

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-

Issue of fresh

certificate

of in-

(c) 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 take 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 op:

Provided that the date stated in the resolution shall be a date 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.

6. 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, this 18th day of November, 1953-

(Secretariat 20/3231/53)

th

Deputy of Councils.

HONG KONE

No. 36 OF 1953-

1 assent.

Дввали

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.

Section 5 of the Crown Rights (Re-entry) Ordinance Amend- (hereinafter referred to as the principal Ordinance) is amended by ment of the deletion from the third line of the word "twelve", and the (Cap. 126). substitution therefor of the following-

*

3. The principal Ordinance is amended by the addition, Addition after section 11, of the following new section-r

"Accept-

12. The acceptance of rent by or on behalf of the ance of rent not

Crown shall not operate as a waiver by the Crown of to operate

any right of re-entry accruing or of any forfeiture waiver of

incurred by reason of either the breach of any covenant right of in a Crown lease or the breach of any condition or re-entry or

stipulation in any tenancy of land held of the Crown."

***

forfeiture.

of new section 12.