TRUSTEES (HONGKONG GOVERNMENT SECURITIES) ORDINANCE, 1901

TRUSTEES (HONGKONG GOVERNMENT SECURITIES) ORDINANCE, 1901

No. 20 of 1901.
An Ordinance to facilitate the investment of turst and other
funds in the United Kingdom in Hongkong Government
securities.

[10th December, 1901]

WREREAs by the Colonial Stock Act, 1900, the securities in which a
trustee may invest under the powers of the Trustee Act, 1893, are
declared to include any Colonial. Stock which is registered in the
United Kingdom in accordance with the provisions of the Colonial
Stock Acts, and with respect to which there have been observed
such conditions, if any, as the Lords Commissioners of the Treasur 's
may, by order notified in the London Gazette, prescribe; AND
WHEREAS the Lords Commissioners of the Treasury have, by ail order
dated the 6th day of December, 1900, prescribed as two of the said
conditions that a Colony shall provide by legislation for the pay-
ment, out of the revenues of the Colony, of any sums which may
become payable to Stockholders under any judginent, decree, rule,
or order of a Court in the United Kingdom, and that the Colonial
Government should place on record a formal expression of their
opinion that any Colonial legislation which appears to the Imperial
Government. to alter any of the provisions affecting the stock to
the injury of the stockholder, or to involve a departure from the

As arnended by Law. Rev. Ord., 1924.





original contract in regard to the stock, would properly be dis-
allowed; AND WHERELAS it is expedient that provision should be
made to enable advantage to be taken of the said Acts in respect of
investment of trust funds in Hongkong Government securi ties: --

1. This Ordinance may be cited as the Trustees (Hongkong
Government Securities) Ordinance, 1901.

-2. In this Ordinance, The Colonial Stock Acts-
the Acts of Parliament known as the Colonial Stock Acts,
1877 t o 1900.

3. This Ordinance shall apply to all securitiles heretofore
or hereafter created or issued on behalf of the Government
of Hongkong to which the Colonial Stock Acts apply, and
which are registered in the United Kingdom in accordance
with the provisions of those Acts, each and all of which
securities are hereinafter referred to as Hongkong Govern-
ment securities .

4.-(1) Whenever, by the final judgment, decree, rule, or
order of any court of competent jurisdiction in the United
Kingdom, any sum of money is adjudged or declared to be
payable by the Government of Hongkong in respect of any
Hongkong Government securities, the Government shall
forthwith pay that sum out of the funds in the hands of the
Crown Agents belonging to the Government, without further
appropriation than this Ordinance.

(2) For the purposes of this section, final. judgment,
decree, rule, or order, means, in case of appeal, the final
judgment, decree, rule, or order of the ultimate court hearing
the appeal.

5. In order to enable every such payment to be duly made,
a certificate under the hands of the Crown Agents, specifying
the sum so paid under the order of any such court, shall be,
sufficient authority to the Auditor General or other officer
having the auditing of their accounts for passing such sum
without further appropriation.

As amended by Law Rev. Ord., 1924.
6. If at any time hereafter an Ordinance is passed which 1
appears to the Imperial Government to alter any of the
provisions aflecting the Hongkong Government securities to
the injury of the holder thereof, or to involve a departure
from the original contract in regard to those securities, that
Ordinance will properlyhe disallowed.
[Originally No.25 of 1901. Law Rev. Ord., 1924.] 63 & 64 Vict. C. 62. 56 & 57 Vict. C. 53. Short title. Interpretation. 40 & 41 Vict. C. 59; 55 & 56 Vict. C. 35; 63 & 64 Vict. C. 62. Application of the Ordinance. Provision for payment of money due to stockholders by Government of Hongkong. Certificate by Crown Agents. Provision for disallowance of Ordinance injuriously affecting Government securities.

[Originally No.25 of 1901. Law Rev. Ord., 1924.] 63 & 64 Vict. C. 62. 56 & 57 Vict. C. 53. Short title. Interpretation. 40 & 41 Vict. C. 59; 55 & 56 Vict. C. 35; 63 & 64 Vict. C. 62. Application of the Ordinance. Provision for payment of money due to stockholders by Government of Hongkong. Certificate by Crown Agents. Provision for disallowance of Ordinance injuriously affecting Government securities.

https://oelawhk.lib.hku.hk/items/show/1202

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