63787-1919-Supplementary-Advertisements — Page 1

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TO ALL WHOM IT MAY CONCERN.

NOTICE is hereby given that the BRITISH TRADERS INSURANCE COMPANY LIMITED

intends at an early date to apply to the Legislative Council of Hongkong for a Bill for power to convert its silver capital into gold.

A Copy of the proposed Bill is hereunder published.

Dated the 5th day of March, 1919.

DEACON, LOOKER, DEACON & HARSTON,

Solicitors for

THE BRITISH TRADERS INSURANCE COMPANY LIMITED.

A BILL

INTIFULED

An Ordinance to authorise the British Traders Insurance Company Limited to convert its silver capital into gold.

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 British Short title. Traders Insurance Company Limited (Capital Conver- sion) Ordinance, 1919”.

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2. In this Ordinance, "the Company' means the Interpreta- British Traders Insurance Company Limited.

tion.

silver

capital into

3. The Company may at any time by special resolu- Power to tion convert into gold its silver capital as existing at convert the date of the confirmation of such special resolution, and such conversion shall take effect upon such special gold. resolution being confirmed. Any such conversion may be into such form of gold currency and at such rate of exchange and upon such terms and conditions as may be sanctioned by the special resolution effecting the con- version.

4. Upon the filing of any such special resolution as Issue of is referred to in section 3 of this Ordinance the Regis- fresh certifi- trar of Companies shall issue a fresh certificate of incor- cate of

incorpora- poration of the Company shewing the capital of the tion. Company as effected by such conversion. Such fresh certificate shall take the place of the original certificate of incorporation of the Company and shall be the certi- ficate of incorporation of the Company.

and of

5. Nothing in this Ordinance shall affect or be Saving of deemed to affect the rights of His Majesty the King His the rights of Heirs and Successors or the rights of any body politic the Crown or corporate or of any other person except such as are certain other mentioned in this Ordinance and those claiming by, rights. from or under them.

Objects and Reasons,

The object of this Bill is to enable The British Traders Insurance Company Limited to convert its capital from silver into gold by a special resolution to that effect to be passed by the shareholders. The directors consider this desirable because the great bulk of the Company's business is carried out in countries where a gold currency prevails.

The fact that the Company does not carry on any life insurance business seems to make it unnecessary to provide for any special notice to policy holders.

5th March, 1919.