CO129-465 - Public Offices & Others - 1920 — Page 71

In the Matter of The China (Companies) Amendment

Order in Council,

1917

and

In the Matter of the Fire and Marine Insurance

Companies Ordinance, 1917, of Hongkong.

Regulations made by His Majesty's Minister in pursuance of Artiole 7 of the said Order in Council and Section 7 of the said Ordinance as to tue deposit to be made with the Regis- trar of Companies Shanghai by 'China' Fire and Marine Insurance Companies in accordance with the said Order in Council and Ordinance as thereby applied.

70

1.

DE POS I T.

One half of the deposit may be in approved land

registered in the Books for the Registration of Land

at any of H.M's Consulates General or Consulates in

China, or in approved leasehold property situate at any of the Treaty Ports in China, or in other approved

securities.

2.

If the Insurance Company proposes to make any part

of the deposit in land, leasehold property, or other securities, it shall submit a list of auch to the Regis- trar of Companies at Shanghai for the approval of His

Majesty's Minister.

3.

The value of any securities other than land, or lease- hold property, shall be the market value of the securities on the day on which they were submitted to the Registrar of Compantes et Shanghai, and His Majesty's Minister shall be the sole judge of what the market value was in any par-

ticular case.

4.

Any part of the deposit which consists of land, or leasehold property, shall take the form of a legal mortgage

to the Registrar of Companies at Shanghai.

If/