CO129-465 - Public Offices & Others - 1920 — Page 72

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5.

If any part of the deposit consists of securities

other than land, or leasehold property, such document or

documents shall be executed by or on behalf of the

Insurance Company as will either transfer the legal owner.

ship to the Registrar of Companies at Shanghai or as will

enable him to complete such transference without any

further concurrence on the part of any other person.

6. If at any time the Registrar of Companies at Shangha

is of opinion that any land, leasehold property, or other!

securities have fallen below the value at which they

were accepted he shall call upon the Insurance Company

to make a further deposit in order to make up the defi-

ciency.

7. If the Insurance Company is dissatisfied with any

such requisition it may appeal to His Majesty's Minister

who shall thereupon determine whether any further deposit:

is necessary, and if so to what amount.

8.

Subject to the provisions of sub-section (1) of

Section 5 of the Ordinance, as applied by the Order in

Council, an Insurance Company shall be entitled at any

time to substitute approved securities for any part of

its existing deposit, and the provisions of these regu-

lations with regard to the original deposit shell apply

mutatis mutandis to any such substituted deposit.

9. If the deposit is partly in the form of land having

buildings thereon, or leasehold property, such buildings

or property shall be insured in the name of the Registrar

of Companies at Shanghai against the risk of loss by fire,

in such office or offices as the Registrar of Companies

at Shanghai may direat for the full insurable value there-

of.

Such property shall not be insured or re-insured

with the Insurance Company making the deposit.