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(5) On the day and at the hour and place so specified the Colonial Treasurer shall hold a meeting, at which the holder of any bond may, if he think fit, be present, and shall then in the presence of such boud holders, if any, as may attend, draw by lot, out of the whole number of bonds for the time being outstanding of the respective denomina- tious specified, houds to such respective total nominal values as shall have been specified.
(6) The Colonial Treasurer shall thereupon declare the distinguishing numbers of the bonds drawn for redemption, and shall, as soon as may be, by advertisement in the Gazette, specify those numbers and appoint a day, not being earlier than fifteen days from the day of the draw- ing and not being later than the day on which the then current half-year's interest is payable, on which the prin- cipal moueys represented by the bonds so distinguished will be repaid.
(7) On the day so appointed there shall be paid to the holders of the bonds drawn for redemption, at the head office of the Hongkong and Shanghai Banking Corpora- tion, the principal moneys represented by those bonds, with all interest payable thereon up to that day.
(8) From and after the day appointed for the repay- ment of any bond all interest on the principal moneys represented thereby shall cease and determine, whether payment of the principal shall have been demanded or not.
6. Every bond and coupon and the right to receive the Transfer by principal and interest represented thereby shall be transfer- delivery. able by delivery.
interest.
7. The Governor shall in each half-year ending with Provision for the day on which the interest on the bonds falls due payment of appropriate out of the revenue and assets of the Colony a sum equal to one half-year's interest on the whole of the bonds outstanding in order that the interest for the said half-year may be paid therefrom.
8. The Governor shall in each year ending on the 31st. Provision for day of October, subsequent to the year ending on the 31st sinking fund. day of October, 1927, appropriate out of the revenue and assets of the Colony for the formation of a sinking fund an additional sum of not less than six dollars and sixty-six cents per hundred dollars on the total nominal value of all the bonds issued, including any which may have been redecined,
9.- (1) The sinking fund shall be applied the first Application instance if payment of all expenses of or incidental to the of sinking
fund. redemption of the bonds and in the next place in re-pay- ment of the principal moneys represented by the bonds,
(2) In case the sinking find shall be insufficient for the payment of the principal moneys at the time when such payment shall become due the Governor shall make good the deficiency out of the revenue and assets of the Colony.
10. The moneys appropriated for the formation of a hivestment of sinking fund shall, so far as they are not required for the sinking fund. purposes of the preceding section, be invested in such manner as may be approved by the Governor in Conneil, and the dividends, interest or produce of such investment shall be invested in like manner.
11. The interest on each bond shall be at the rate of Payment of six per centum per ammum and shall run from the day interest. muned in that behalf in the bond and shall be paid half- yearly at the head office of the Hongkong and Shanghai Banking Corporation of the days named in that beball in the coupons.
12. The Governor shall have power:
Powers of
Governor.
(y) to determine the amounts for which the bonds
shall be issued:
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