A.D. 1886.]
LOAN.
[No. 6.
507
under and by virtue of this Ordinance: Provided, also, that the time fixed for such repayment shall be a day on which a coupon shall become due and payable.
5. The debentures shall be issued in London at the offices of the Crown Agents for the Colonies, and shall be signed on behalf of the Government of Hongkong by any two of them.
Issue of debentures by Crown Agents.
Registration of debentures.
6. Every debenture shall, before being issued, be registered in a register book to be kept for that purpose at the offices of the Crown Agents for the Colonies.
7. There shall be attached to every debenture coupons for the payment of the interest to become due in each half-year upon the principal money secured by the debenture.
Coupons.
8. The debentures and the coupons shall be in such form as the Crown Agents for the Colonies may approve.
Forms of debentures and coupons.
9. Every debenture and all right to and in respect of the principal money secured thereby, and each coupon and all right to the interest payable in respect thereof, shall be transferable by delivery, and the principal money secured by such debenture, and the interest payable by such coupon, shall be payable at the offices of the Crown Agents for the Colonies in London.
Debentures transferable.
10.-(1.) The Governor shall appropriate half-yearly, out of the general revenues of the Colony, the necessary sums to pay the half-yearly interest due on account of the said loan.
(2.) The Governor shall further appropriate half-yearly, out of the general revenues of the Colony, commencing six months after the date of issue of the first debentures created under this Ordinance, the sum of three thousand five hundred and thirty-six pounds, and shall remit the same to the Crown Agents for the Colonies in London, to be invested by them in some one or more of the securities of the Imperial Government of Great Britain and Ireland, or of the Government of any Colony of Great Britain and Ireland, as they may from time to time determine, as a sinking fund for the final extinction of the debt.
(3.) The Crown Agents shall also from time to time invest the dividends, interest, or produce arising from such investment, so that the same may accumulate by way of compound interest.
11. In case the sinking fund shall be insufficient for the payment of all the principal moneys borrowed under the authority of this Ordinance at the time the same shall have become due, the Governor shall make good the deficiency out of the general revenues and assets of the Colony.
Payment of half-yearly interest to be made.
Sinking fund.
Making good of deficiency in sinking fund.
A.D. 1886.]
LOAN.
[No. 6.
507
under and by virtue of this Ordinance: Provided, also, that the time fixed for such repayment shall be a day on which a coupon shall become due and payable.
5. The debentures shall be issued in London at the offices of the Crown Agents for the Colonies, and shall be signed on behalf of the Government of Hongkong by any two of them.
Issue of debentures by Crown Agents.
of debentures.
6. Every debenture shall, before being issued, be registered in a re- Registration gister book to be kept for that purpose at the offices of the Crown Agents for the Colonies.
7. There shall be attached to every debenture coupons for the pay- Coupons. ment of the interest to become due in cach half-year upon the principal money secured by the debenture.
8. The debentures and the coupons shall be in such form as the Crown Forms. Agents for the Colonies may approve.
and coupons
9. Every debenture and all right to and in respect of the principal Debentures money secured thereby, and each coupon and all right to the interest transferable. payable in respect thereof, shall be transferable by delivery, and the principal money secured by such debenture, and the interest payable by such coupon, shall be payable at the offices of the Crown Agents for the Colonies in London.
10.-(1.) The Governor shall appropriate half-yearly, out of the general revenues of the Colony, the necessary sums to pay the half- yearly interest due on account of the said loan.
(2.) The Governor shall further appropriate half-yearly, out of the general revenues of the Colony, commencing six months after the date of issue of the first debentures created under this Ordinance, the sum of three thousand five hundred and thirty-six pounds, and shall remit the same to the Crown Agents for the Colonies in London, to be invested by them in some one or more of the securities of the Imperial Government of Great Britain and Ireland, or of the Government of any Colony of Great Britain and Ireland, as they may from time to time determine, as a sinking fund for the final extinction of the debt.
(3.) The Crown Agents shall also from time to time invest the divid- ends, interest, or produce arising from such investment, so that the same may accumulate by way of compound interest.
11. In case the sinking fund shall be insufficient for the payment of all the principal moneys borrowed under the authority of this Ordi- nance at the time the same shall have become due, the Governor shall make good the deficiency out of the general revenues and assets of the Colony.
Payment of half-yearly;
interest to be
sinking fund.
Making good of deficiency in sinking fund,
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