CO129-394 - Governor Sir May & Public Offices - 1912 [12] — Page 338

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DECLARATION under " The General Loan and Inscribed Stock

OrDinance 191 that Loans are convertible into Inscribed Stock.

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WHEREAS by the 31st. section of "The General Loan and

Inscribed Stock Ordinance 191 ", provision is made under

or by virtue of which the Governor of the Colony of Hong

Kong may authorise the Crown Agents when issuing Loan

in the form of Debentures to declare that such Debentures

will be convertible into Inscribed Stockat such dates and

on such terms and conditions as may be prescribed by the Crown Agents at the time of the issue of the Debentures

and he may declare all or any of the Hong Kong Loans

whether existing in the form of Stock or Debentures to be

convertible into Inscribed Stock to be issued under the

provisions of the said Ordinance and may authorise the

creation and issue of such an amount of Inscribed Stock

in exchange for the Securities held for such Loans as may be necessary and also may authorise the creation and

o Deha hus sale of any such Inscribed Stock for the purpose of raising

A money for redeeming any outstanding Loans for paying any

and otherwise expenses in the creation of Inscribed Stock

•

for carrying out the provisions of the said Ordinance : and any conversion so authorised may be effected either by

arrangement with the holders of existing Securities or

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sale of by purchase thereof out of moneys raised by Inscribed Stock or partly in one way and partly in the other AND WHEREAS it is expediena that the Governor of the said Colony should exercise the powers and authortties vested in him by the herein before in part recited Ordinance.

NOW THEREFORE,I,

Governor of the Colony of

Hong Kong in pursuance and in exercise of every power and authority enabling me in that behalf do by this Instrument issued under my hand and the Seal of the said Colony hereby authorise the Crown Agents when issuing any Loan in the form of Debentures to declare that such Debentures will be convertible into Inscribed Stock at such dates

....

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