CO129-539-8 Military contributions- basis of assessment 25-4-1932 - 27-2-1934 — Page 39

HONG KONG.

No. 406

Original on 13789/33

92622/32

DOWNING STREET.

23

39

26 October, 1933.

►

31r.

I have the honour to acknowledge the receipt

of your despatch No.368 of the 38th of June, and to inform you that His Majesty will not be advised to

exercise his power of disallowance in respect of Ordinance No.15 of 1933 of the Legislature of Hong Kong entitled

"An Ordinance to make provision for the redemption of the

boņds issued under the authority of the Public Works Loan

Ordinance, 1927."

2. The Army Council to whom reference has been made in the matter, state that they have no objection tos offer to the terms of the Ordinance. They point out, however, that the terms of sub-section (4) of Section 10

provide that any moneys appropriated for the formation

of the sinking fund to be raised under the Ordinance, not

required for the redemption etc. of the Conversion Bonds

may be dealt with in such manner as may be approved by the Governor in Council, and that a similar provision exists in sub-section (5) as regards the sinking fund of the

1927 Loan. They also point out that under Section 13

all appropriations for the sinking fund and all dividends,

interest, or produce of any investments representing any

portion of the sinking fund are exempted from assesment

GOVERNOR,

SIR YILDAL PERL, K.C.M.G., K.B...

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