CO129-394 - Governor Sir May & Public Offices - 1912 [12] — Page 327

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ber.

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མ་ iii.

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A. 90

4.

320

ode of providing for payment of interest n debentures.

Arther sums to be emitted for the edemption of the lebenture8.

Pplication of sinking

und.

12. So long as any of the debentures remain

outstanding, the Governor shall, in each half year

ending with the day on which the interest on the

debentures falls due, appropriate out of the

general revenues and assets of the Colony of

Hong Kong a sum equal to one half-year's interest

on the whole of the debentures issued, including

any which may have been redeemed, but exclusive

of any which may have been at any time exchanged

for inscribed stock, and shall remit that sum to

the Crown Agents at such time as will enable them

to pay there out the then current half-year's

interest on the day on which it falls due.

13. After the date specified in the Ordinance

authorising the loan as that on which the contri-

butions to the sinking fund shall commence, the

Governor shall, in each half-year ending as afore-

said, appropriate out of the said revenues and

assete of the Colony of Hong Kong an additional

eum for the formation of a sinking fund of not

less than ten shillings sterling per hundred pounds

on the total nominal amount of all the debentures

issued, including any which may have been redeemed,

but exclusive of any which may have been at any

time exchanged for inscribed stock, and shall

remit that sum to the Crown Agents with the

remittance hereinbefore mentioned.

14.

The sinking fund shall be applied in the

first place in payment of all expenses of, or

incidental to, the redemption of the debentures