100262-1926-Ordinance-passed-and-assented-to--Trade-Loan-No-13-of-1926 — Page 1

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THE HONG KONG GOVERNMENT GAZETTE, OCTOBER 1, 1926. 445

No. 536. His Excellency the Governor has given his assent, in the name and on behalf of His Majesty the KING, to the following Ordinance passed by the Legislative Council :

Ordinance No. 13 of 1926.-An Ordinance to charge a certain loan upon the general revenue and assets of the Colony of Hong Kong.

HONG KONG.

No. 13 or 1926.

L.S.

I assent.

C. CLEMENTI, Governor.

1st October, 1926.

An Ordinance to charge a certain loan upon the general revenue and assets of the Colony of Hong Kong.

[1st October, 1926.]

WHEREAS the Governor on behalf of the Government of the Colony of Hong Kong has recently borrowed certain moneys for the purpose of making loans on security approved by him or under his authority to merchants and others in the Colony during a certain period of financial stringency :

AND WHEREAS although the demand for such loans has now practically ceased it is possible that the Governor on behalf of the Government of the Colony of Hong Kong may desire to borrow certain other moneys for the said purpose:

AND WHEREAS it is desirable that any principal moneys so borrowed or to be borrowed and the interest thereon shall be charged upon the general revenue and assets of the Colony :

Be it therefore enacted by the Governor of Hong Kong, with the advice and consent of the Legislative Council thereof, as follows:-

1. This Ordinance may be cited as the Trade Loan Short title. Ordinance, 1926,

2. In this Ordinance, "Trade loan means the Interpreta- aggregate for the time being of any moneys hitherto tion. borrowed, or hereafter to be borrowed, by the Governor on behalf of the Government of the Colony of Hong Kong, for the purpose referred to in the first recital of the preamble of this Ordinance, together with any interest on the said principal moneys due or to become due under the terms of the agreements under which the respective principal moneys were or shall be borrowed: Provided that such principal moneys, whether already borrowed or hereafter to be borrowed, shall have been acknowledged by the Secretary of State on behalf of the Government of Hong Kong, in a letter or some other document addressed or delivered to the respective lenders, as coming within the provi- sions of this Ordinance.