1974-HKRS28-16-22_Part01 — Page 16

Amendment

of section 12.

4.

under section 9 with, or for the benefit of, any person; and

(b) another person has advanced, or proposes to advance, moneys to the first-mentioned per- son for the purpose of financing, in whole or in part, the acts and transactions, which are the subject matter of the contract of insu-

rance.

I

the Corporation may guarantee to that other person the re-payment of the whole or any part of the moneys advanced or to be, advanced by bim and the payment of the whole or any part of any interest or other charges that may become payable to him in respect of those moneys.".

Section 12 of the principal Ordinance is amended—

(a) in subsection (1)—

(i) by deleting after paragraph (d) the word “and”; (ii) by deleting the comma at the end of paragraph (e) and substituting the following-

"and":

(iii) by inserting after paragraph (e) the following new paragraph-

"(f) the giving of guarantees.";

(b) by deleting subsection (2) and substituting the following-

"(2) Nothing in subsection (1) shall be construed

(a) requiring the approval of the Financial Secretary to the entering by the Corporation into a particular contract of insurance or the giving by the Corporation of a parti cular guarantee: or

(b) empowering the Financial Secretary to determine that the Corporation shall or shall not enter into a particular contract of insurance or give a particular guarantee, but the Corporation shall not enter into a particular contract of insurance or give a particular guarantee unless the contract or guarantee is in accordance with the policy approved by the Financial Secretary.".

5.

3

Section 17 of the principal Ordinance is amended in Amendment subsection (2) by deleting "fifty" and substituting the following of section

"eighty five",

17,

6. Section 19 of the principal Ordinance is amended by Amendment deleting “ten" and substituting the following—

"twenty".

of section 19.

7. Section 30 of the principal Ordinance is amended by Amendment inserting after "entered into" the following-

บ

or a guarantee given.".

Section 32 of the principal Ordinance is amended inserting after "insurance" wherever it occurs the following-

"or a guarantee",

of section 30.

by Amendment

Passed by the Hong Kong Legislative Council this 13th day of February, 1974.

Clerk to the Legislative Council.

This printed impression has been carefully compared

by me with the bill, and is found by me to be a true and correctly printed copy of the said bill.

Интес

Clerk to the Legislative Council.

of section 32,