56
CAP. 29]
Trustee
[1985 Ed.
(1958 c. 45.)
10 of 1989565
(Cap. 333.)
(e) a London sterling certificate of deposit rate;
(/) the base rate of one or more of the London clearing banks.
(Added, L.N. 28/84)
15C. Securities issued in the United Kingdom by a company incorporated in the United Kingdom, being securities registered in the United Kingdom and not being securities falling within any other paragraph of this Part; but the securities mentioned in this paragraph do not include--
(a) securities the price of which is not quoted on a recognized stock exchange within the meaning of the Prevention of Fraud (Investments) Act 1958, or the Belfast Stock Exchange;
(b) shares or debenture stock not fully paid up (except shares or debenture stock which by the terms of issue are required to be fully paid up within 9 months of the date of issue);
(c) shares or debentures of an incorporated company of which the total issued and paid up share capital is less than £10,000,000:
(d) shares or debentures of an incorporated company which has not in each of the 5 years immediately preceding the calendar year in which the investment is made paid a dividend wholly in cash (except to the extent that the shareholders have opted to accept it other than wholly in cash) on all the shares issued by the company, excluding any shares issued after the dividend was declared and any shares which by their terms of issue did not rank for the dividend for that year:
Provided that a company formed---
(i) to take over the business of another company or other companies; or (ii) to acquire the securities of, or control of, another company or other companies, or for either of those purposes and for other purposes shall be deemed to have paid a dividend in any year in which such a dividend has been paid by the other company or all the other companies, as the case may be.
(Added, L.N. 28/84)
15D. Bills, notes and bonds issued by the Government of the United States of America.
(Added, L.N. 28/84)
15E. (1) Units, securities or other rights and interests issued
(a) under a unit trust situated; or
(b) by a mutual fund corporation incorporated,
and Futures
in a country outside Hong Kong and authorized by the Securities Commission in Hong Kong.
(2) "Securities", "unit trust" and "mutual fund corporation" have the same meanings as in the Securities Ordinance.
(Added, L.N. 28/84)
PART II
(Cap. 155.)
HONG KONG INVESTMENTS
16. Any Government securities of the Colony.
17. First legal mortgages of property, including an undivided share in property, in the Colony held under Crown lease of which the unexpired term at the time of investment is not less than 50 years, excluding any term for which the Crown lease can be renewed.
18. Deposits held in Hong Kong or in any other place by a bank, other than an unincorporated bank, licensed under the Banking Ordinance.
# Replaced, L.N. 313/76)
56
CAP. 29]
Trustee
[1985 Ed.
(1958 c. 45.)
10 of 1989565
(Cap. 333.)
(e) a London sterling certificate of deposit rate;
(/) the base rate of one or more of the London clearing banks.
( Added, L.N. 28/84)
15C. Securities issued in the United Kingdom by a company incorporated in the United Kingdom, being securities registered in the United Kingdom and not being securities falling within any other paragraph of this Part; but the securities mentioned in this paragraph do not include--
(a) securities the price of which is not quoted on a recognized stock exchange within the meaning of the Prevention of Fraud (Investments) Act 1958, or the Belfast Stock Exchange;
(b) shares or debenture stock not fully paid up (except shares or debenture stock which by the terms of issue are required to be fully paid up within 9 months of the date of issuc);
(c) shares or debentures of an incorporated company of which the total issued
and paid up share capital is less than £10,000,000:
(d) shares or debentures of an incorporated company which has not in each of the 5 years immediately preceding the calendar year in which the investment is made paid a dividend wholly in cash (except to the extent that the shareholders have opted to accept it other than wholly in cash) on all the shares issued by the company, excluding any shares issued after the dividend was declared and any shares which by their terms of issue did not rank for the dividend for that year:
Provided that a company formed---
(i) to take over the business of another company or other companies; or (ii) to acquire the securities of, or control of, another company or other companies.
or for either of those purposes and for other purposes shall be deemed to have paid a dividend in any year in which such a dividend has been paid by the other company or all the other companies, as the case may be.
Added, L.N. 28/84)
15D. Bills, notes and bonds issued by the Government of the United States of America.
fAdded, LN. 28/84)
15E. (1) Units, securities or other rights and interests issued
(a) under a unit trust situated; or
(b) by a mutual fund corporation incorporated.
and Fictures
in a country outside Hong Kong and authorized by the Securities Commission in Hong Kong.
(2) "Securities". "unit trust" and "mutual fund corporation" have the same meanings as in the Securities Ordinance.
(Added, L.N. 28/84)
PART II
(Cap. 155.)
HONG KONG INVESTMENTS
16. Any Government securities of the Colony.
17. First legal mortgages of property, including an undivided share in property, in the Colony held under Crown lease of which the unexpired term at the time of investment is not less than 50 years, excluding any term for which the Crown lease can be renewed.
18. Deposits held in Hong Kong or in any other place by a bank, other than an unincorporated bank. licensed under the Banking Ordinance.
# Replaced, L.N. 313;76)
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