33285-1913-Supplementary-Bills-read-a-first-time--Deportation — Page 9

Date of

236

6. This Ordinance shall come into operation on the

coming into day of operation.

1913.

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Objects and Reasons.

Ordinance No. 2 of 1866 with amending Ordinances regulates and controls, inter alia, the issue of notes by the Hongkong and Shanghai Banking Corporation, Ordinance No. 65 of 1911 that of the Mercantile Bank of India, while the issue by the Chartered Bank of India, Australia and China is regulated by its Charter.

Ordinance No. 2 of 1895 prohibits any unauthorised issue by other Banks doing business in the Colony but there is no law at present to restrain the circulation of notes issued by parties having their headquarters at places adjacent to Hongkong.

It is obviously desirable to protect the public, against a note issue in respect of which Government holds no security and over which it possesses no control.

JOHN A. BUCKNILL,

Attorney General.

A BILL

Short title.

Revives retrospec-

tively rights,

etc., con- ferred by Ordinance No. 21 of 1901.

ENTITLED

An Ordinance to revive the Rope Company's

Tramway Ordinance, 1901.

BE it enacted by the Governor of Hongkong, with the advice and consent of the Legislative Council thereof, as follows:-

1. This Ordinance may be cited as the Rope Company's Tramway (Revival) Ordinance, 1913, and shall be read as one with the Rope Company's Tramway Ordinance, 1901.

2. Notwithstanding anything in section 12 of the Rope Company's Tramway Ordinance, 1901, to the contrary, the rights, powers and privileges granted by the said Ordinance shall be deemed not to have expired but to have been and to be in full force and effect and to so continue up till the 15th day of December, 1913, provided that nothing in this section shall be deemed to affect or curtail the power given to the Governor-in-Council, by the proviso to the said sec- tion, to extend the duration of such rights, powers and privileges.

Objects and Reasons.

The object of this Bill is to continue in force the rights, powers and privileges granted by the Rope Com- pany's Tramway Ordinance, 1901, to the Hongkong Rope Manufacturing Company, Limited, which has been allowed to lapse.

JOHN A. BUCKnill,

Attorney General,

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