CAP. 73]
[s. 4 cont.]
Transfer by delivery.
Provision for payment of interest.
Hong Kong Dollar Loan.
notice, specifying the date, hour and place at which the drawing will take place.
(5) On the day and at the hour and place so specified the Accountant General shall hold a meeting at which the holder of any bond may, if he thinks fit, be present, and shall then in the presence of such bond holders, if any, as may attend, draw by lot, out of the total number of bonds of every issue which are then outstanding, bonds to the nominal value of one twenty-fifth of each such issue.
(6) The Accountant General shall thereupon declare the distinguishing numbers of the bonds drawn for redemption, and shall, as soon as may be, advertise such numbers in the Gazette.
(7) On the 15th day of July following the date of any such draw the principal moneys represented by the bonds so drawn for redemption, with all interest due thereon up to that day, shall become payable either at the head office of The Hongkong and Shanghai Banking Corporation or at the office of The Chartered Bank of India, Australia and China in Hong Kong.
(8) From and after the day on which the principal moneys represented by any such bond become so payable all interest thereon shall cease and determine, whether payment of the principal shall have been demanded or not.
(9) In addition to such yearly redemption by drawing of bonds, the Governor may, at any time or times, authorize the redemption, by purchase at current market rates, of bonds of such issues and of such denominations and to such respective total values as he may from time to time determine.
[5
5. Every bond and coupon and the right to receive the principal and interest represented thereby shall be transferable by delivery.
[6
6. The Governor shall in each half-year ending with the day on which the interest on the bonds falls due 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.
488
[7
CAP. 73]
[s. 4 cont.]
Transfer by delivery.
Provision for payment of interest.
Hong Kong Dollar Loan.
notice, specifying the date, hour and place at which the drawing will take place.
(5) On the day and at the hour and place so specified the Accountant General shall hold a meeting at which the holder of any bond may, if he thinks fit, be present, and shall then in the presence of such bond holders, if any, as may attend, draw by lot, out of the total number of bonds of every issue which are then outstanding, bonds to the nominal value of one twenty-fifth of each such issue.
(6) The Accountant General shall thereupon declare the distinguishing numbers of the bonds drawn for redemption, and shall, as soon as may be, advertise such numbers in the Gazette.
(7) On the 15th day of July following the date of any such draw the principal moneys represented by the bonds so drawn for redemption, with all interest due thereon up to that day, shall become payable either at the head office of The Hongkong and Shanghai Banking Corporation or at the office of The Chartered Bank of India, Australia and China in Hong Kong.
(8) From and after the day on which the principal moneys represented by any such bond become so payable all interest thereon shall cease and determine, whether pay- ment of the principal shall have been demanded or not.
(9) In addition to such yearly redemption by drawing of bonds, the Governor may, at any time or times, authorize the redemption, by purchase at current market rates, of bonds of such issues and of such denominations and to such respective total values as he may from time to time determine.
[5
5. Every bond and coupon and the right to receive the principal and interest represented thereby shall be transferable by delivery.
[6
6. The Governor shall in each half-year ending with the day on which the interest on the bonds falls due 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.
488
[7
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