CO129-218 - Administrator Marsh Governor Sir Bowen & Others - 1884 [11-12] — Page 384

المالية

381

to

any

other purpose than that of paying

the notes. I am to ask

you

whether the

Bank would be able to make such a

special appropriation of a part of its assets for the exclusive benefit of one

class o

of

its exeditors

or whether such

a power could properly be conferred by

Ordinance of the Colony

or otherwise.

A copy of the Hong Kong

Ordinance No 50

!5 of

1866 relating

to the

Hong Kong and Shanghai Bank is

-enclosed for your information, and should

be returned with

The Solicitor.

your reply.

I have to.

(Sd) C.G. Barrington.

The Section

of

the

Banking Act 1879, (42/43 Vict. c. 76) referred to in Mr.

6. Section

one hundred and eighty two of

the Companies Act 1862 is hereby repealed, and in place thereof it is enacted as follows: - A bank of issue registered

as a

limited

after the

company,

passing of

either

before

this Act, shall

not be entitled to limited liability in respect of its notes; and the members thereof shall continue liable in respect of its notes in the same manner as if it had been registered

Company;

assets of

as an unlimited

but in case the general

the Company are, in the event of the company being wound up. insufficient to satisfy the claims of both the noteholders and the general creditors, then the members, after satisfying. the remaining demands of the noteholders,

shall

Barrington's letter, is

ao

follows:

6

2