the loan should be raised in this country under General Loan and inscribed Stock Ordinance 1915, inscribed stock would be necessary as issue of any fora of bearer securities is prohibited by Section 10 of United Kingdom Axchange Control Act 1947. Either inscribed or registered stock is unobjectionable from exchange control aspect.
6. Minor points arising from ordinance are added for your consideration and amendmans if desired;·
Sep 1on 7(5) Following more definite version of first four lines may be preferred,
"The Governor shall in the half year ending on the date specified in the propectus of any loan issued under the terms of this Ordinance as that on which the first contribution to the sinking fund shall be taken and in each subsequent half year appropriate cut of" etc.
Section 7(6) Use of sinking funds for purchase of bonds need not necessarily be limited to a prise not exceeding par. Even above par, bonds might still be the best investment.
7. Gruteful for copies of prospectus end report as to smounts
ubaribed by
banks
general public.
Copies sent to:-
Crown Agents
Mr. A. H. Hicks.
Crow Agents for the Colonies.
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