CO129-515-14 Extension of powers granted to Merchantile Bank of India- Ltd.- to make- issue- re-issue and... 20-2-1929 - 18-1-1930 — Page 25

Enclosure No. 2.

ATTORNEY GENERAL'S CHAMBERS,

Hong Kong...29th July...............192 9.

REPORT ON ORDINANCE No.......11............of 1929.

25

1.

I have examined the accompanying Ordinance. intituled an

Ordinance to extend for a further period the powers granted

by the Mercantile Bank Note Issue Ordinance, 1911, to the

Mercantile Bank of India, Limited, to make, issue, reissue

and circulate notes in the Colony, and I am of opinion

that the Ordinance is one which is not contrary to the

Governor's instructions.

2. The Mercantile Bank Note Issue Ordinance, 1911,

Ordinance No. 65 of 1911, empowers the Mercantile Bank of

India, Limited, to make,issue, re-issue and circulate bank

notes. This power was limited so as to come to an end

on the 13th August, 1929. This Ordinance extends the

duration of that power up to and including the 12th July,

1939.