CO129-474 - Governor Sir Stubbs - 1922 [1-4] — Page 375

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Enclosure 2.

373

ATTORNEY GENERAL'S CHAMBERS,

Hongkong...30th..a.x....hdør 1922.

REPORT ON ORDINANCE No.............................of 19V 1922.

I have examined the accompanying Ordinance intituled

an Ordinance to amend the Hongkong and Shanghai Bank Ordinance,1866,

and 1 an of opinion that the Ordinance is one which is not contrary to the

Governor's Instructions.

2.

The objects of this Ordinance pre: -

(a) To give the Corporation power to increase its capital with the consent of the Governor up to $50,000,000. The former limit was $20,000,000.

(b) To increase the limit of the ordinary note issue

from $15,000,000 to $20,000,000.

(c) To revise the requirements of the law as to the

security to be held against the ordinary note issue.