CAP. 72]
General Loan and Stock.
[1964 Ed.
Originally 20 of 1952.
Preamble.
(40 & 41 Vict. c. 59: 55 & 56 Vict. c. 35; 63 & 64 Vict. c. 62; 24 & 25 Geo. 5 c. 47; 12, 13 & 14 Geo. 6 c. 1)
Short title.
Interpretation.
Loans to be raised by debentures or stock.
Loans to be a charge upon general revenue.
Borrowing upon debentures.
Amount of each debenture.
CHAPTER 72.
GENERAL LOAN AND STOCK.
To declare the terms and conditions applicable to loans authorized to be raised by the Government of Hong Kong and to provide for the creation of Hong Kong stock.
[27th June, 1952.]
WHEREAS it is expedient to define in one Ordinance the terms and conditions applicable to loans hereinafter authorized to be raised by the legislature of Hong Kong and whereas it is expedient to provide for the creation of stock and to enable the Colony of Hong Kong to take advantage of the provisions of the Acts of the Imperial Parliament entitled the Colonial Stocks Acts, 1877 to 1948, and any Act amending the same:
1. This Ordinance may be cited as the General Loan and Stock Ordinance.
2. In this Ordinance, unless the context otherwise requires- "Crown Agents" means the persons for the time being acting as Crown Agents for Oversea Governments and Administrations in England, or any of them;
"stock" includes both inscribed and registered stock;
"registered stock" means stock transferable by instrument in writing,
3. Whenever by any Ordinance authority shall have been given, or shall hereafter be given, to raise any sum of money for the purposes mentioned in such Ordinance, the Governor, or the Crown Agents acting on his behalf, may from time to time, as he or they may deem expedient, raise such sum either by debentures or by stock, or partly by debentures and partly by stock.
4. The principal moneys and interest represented by debentures or stock issued under the provisions of this Ordinance are hereby charged upon and shall be payable out of the general revenues and assets of the Colony of Hong Kong.
5. When the Governor, or the Crown Agents acting on his behalf, shall deem it expedient to raise money by debentures, such debentures shall be issued in the United Kingdom on behalf of the Government of Hong Kong by the Crown Agents, upon the best and most favourable terms that can be obtained, and shall be signed by any one of them on that behalf.
6. Every debenture issued under the provisions of this Ordinance shall be for the sum of not less than one hundred pounds sterling.
2
CAP. 72]
General Loan and Stock.
[1964 Ed.
Originally 20 of 1952.
Preamble.
(40 & 41 Vict. c. 59: 55 & 56 Vict. c. 35; 63 & 64 Vict. c. 62; 24 & 25 Geo. 5 c. 47; 12, 13 & 14 Geo. 6 c. 1)
Short title.
Interpretation.
Loans to be
raised by
debentures or
stock.
Loans to be a charge upon general revenue.
Borrowing upon debentures.
Amount of each debenture.
CHAPTER 72.
GENERAL LOAN AND STOCK.
To declare the terms and conditions applicable to loans authorized to be raised by the Government of Hong Kong and to provide for the creation of Hong Kong stock.
[27th June, 1952.]
WHEREAS it is expedient to define in one Ordinance the terms and conditions applicable to loans hereinafter authorized to be raised by the legislature of Hong Kong and whereas it is expedient to provide for the creation of stock and to enable the Colony of Hong Kong to take advantage of the provisions of the Acts of the Imperial Parliament entitled the Colonial Stocks Acts, 1877 to 1948, and any Act amending the same:
1. This Ordinance may be cited as the General Loan and Stock Ordinance.
2. In this Ordinance, unless the context otherwise requires- "Crown Agents" means the persons for the time being acting as Crown Agents for Oversea Governments and Administrations in England, or any of them;
"stock" includes both inscribed and registered stock;
"registered stock" means stock transferable by instrument in
writing,
3.
Whenever by any Ordinance authority shall have been given, or shall hereafter be given, to raise any sum of money for the purposes mentioned in such Ordinance, the Governor, or the Crown Agents acting on his behalf, may from time to time, as he or they may deem expedient, raise such sum either by deben- tures or by stock, or partly by debentures and partly by stock.
4.
The principal moneys and interest represented by deben- tures or stock issued under the provisions of this Ordinance are hereby charged upon and shall be payable out of the general revenues and assets of the Colony of Hong Kong.
5.
When the Governor, or the Crown Agents acting on his behalf, shall deem it expedient to raise money by debentures, such debentures shall be issued in the United Kingdom on behalf of the Government of Hong Kong by the Crown Agents, upon the best and most favourable terms that can be obtained, and shall be signed by any one of them on that behalf.
6. Every debenture issued under the provisions of this Ordinance shall be for the sum of not less than one hundred pounds sterling.
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