506
etc.
No. 5.] THE ORDINANCES OF HONGKONG: [A.D. 1886.
no agreement, by the contract, or by the parties, or by rule of law, the rate thereof shall 17 & 18 Vict. not exceed eight dollars per cent. per annum : Provided always that it shall be lawful for the Supreme Court and every other Court having jurisdiction within the Colony, in awarding interest in any action, suit, or matter, to allow a lower rate of interest, if the circumstances of the case render it just and expedient.
c. 90 s. 2.
Saving as to pawnbrokers. Ib. s. 3. See Ordinance No. 1 of 1860. Repeal of enactment and exclusion of English law.
4. Nothing in this Ordinance shall be taken to affect or repeal any Ordinance relating to pawnbrokers.
5. So much of Ordinance No. 5 of 1856, entitled “An Ordinance For the Amendment of Procedure in Civil and Criminal Cases,” as relates to the Act 17 & 18 Victoria, Chapter 90, is hereby repealed. Notwithstanding the repeal of the said enactment, the Acts and part of Acts repealed by the said Act shall have no force in this Colony.
cf 193
193 2143
ORDINANCE No. 6 OF 1886.
A.D. 1886. AN ORDINANCE to authorize the Raising of a Loan not exceeding Two Hundred Thousand Pounds.
Ordinance No. 11 of 1886.
Short title.
Issue of debentures for £200,000.
Principal and interest payable out of revenue.
Price of each debenture; interest; mode of paying off, etc.
[7th May, 1886.]
WHEREAS it is expedient to raise on loan two hundred thousand pounds to be expended :
BE it therefore enacted by the Governor of Hongkong, with the advice of the Legislative Council thereof, as follows:----
1. This Ordinance may be cited as the Loan Ordinance, 1886.
2. It shall be lawful for the Governor to raise, by the issue of debentures under this Ordinance, any sum or sums not exceeding in the whole two hundred thousand pounds.
3. The principal moneys and interest secured by the debentures issued under this Ordinance are hereby charged upon and shall be payable out of the general revenues and assets of the Government of Hongkong.
4. Every debenture issued under this Ordinance shall be for a sum of not less than one hundred pounds sterling, carrying interest at a rate not exceeding four and a half per centum per annum payable half-yearly, and shall be paid off at par at any time after the expiration of five years, but not later than twenty years, from the date of issue: Provided always that not less than six months' notice shall be given, by advertisement in the London Times newspaper, of the intention of the Government of Hongkong to pay off the debentures issued or a part thereof
506
etc.
No. 5.] THE ORDINANCES OF HONGKONG: [A.D. 1886.
no agreement, by the contract, or by the parties, or by rule of law, the rate thereof shall 17 & 18 Fiet. not exceed eight dollars per cent. per annum : Provided always that it shall be lawful for the Supreme Court and every other Court having jurisdiction within the Colony, in awarding interest in any action, suit, or matter, to allow a lower rate of interest, if the circumstances of the case render it just and expedient.
c. 90 s. 2.
Saving as to pawnbrokers. Ib. s. 3. SeeOrdinance No. 1 of 1860. Repeal of enactment
and exclusion of English law.
4. Nothing in this Ordinance shall be taken to affect or repeal any Ordinance relating to pawnbrokers.
5. So much of Ordinance No. 5 of 1856, entitled “An Ordinance For the Amendment of Procedure in Civil and Criminal Cases,” as relates to the Act 17 & 18 Victoria, Chapter 90, is hereby repealed. Notwith- standing the repeal of the said enactment, the Acts and part of Acts re- pealed by the said Act shall have no force in this Colony.
cf 193
193 2143
ORDINANCE No. 6 OF 1886.
A.D. 1886. AN ORDINANCE to authorize the Raising of a Loan not exceed
ing Two Hundred Thousand Pounds.
Ordinance No. 11 of 1886.
Short title.
Issue of debentures. for £200,000.
Principal and interest payable out of revenue.
Price of each debenture; interest; mode of paying off, ctc.
[7th May, 1886.]
WHEREAS it is expedient to raise on loan two hundred thousand
pounds to be expended :
BE it therefore enacted by the Governor of Hongkong, with the advice of the Legislative Council thereof, as follows:----
1. This Ordinance may be cited as the Loan Ordinance, 1886.
2. It shall be lawful for the Governor to raise, by the issue of deben- tures under this Ordinance, any sum or sums not exceeding in the whole two hundred thousand pounds.
3. The principal moneys and interest secured by the debentures issued under this Ordinance are hereby charged upon and shall be payable out of the general revenues and assets of the Government of Hongkong.
4. Every debenture issued under this Ordinance shall be for a sum of not less than one hundred pounds sterling, carrying interest at a rate not exceeding four and a half per centum per annum payable half-yearly, and shall be paid off at par at any time after the expiration of five years, but not later than twenty years, from the date of issue: Provided always that not less than six months' notice shall be given, by advertise- ment in the London Times newspaper, of the intention of the Govern- ment of Hongkong to pay off the debentures issued or a part thereof
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