HONG KONG TREASURY BILLS (LONDON) ORDINANCE, 1926

HONG KONG TREASURY BILLS (LONDON) ORDINANCE, 1926

No. 6 of 1926.

An Ordinance to regulate the issue of Hong Kong Treasury
bills in London.
[23rd April, 1926.]

WHEREAS it may be expedient from time to time that the
Crown Agents for the Colonies on behalf of the' Governor
should borrow money. by the issue of Hong Kong Treasury
bills in London





AND WHEREAS it is expedient to provide in one Ordinance the
terms and conditions applicable to the borrowing of money
by the issue of such bills:

1. This Ordinance may be cited as the Hong Kong
Treasury Bills (London) Ordinance, 1026.

2. The Governor whenever authorized thereto by a resolu-
tion of the Legislative Council may request the Crown Agents
for the Colonies to borrow by the issue in London of Hong
Kong Government Treasury bills sums not exceeding the amount
specified in such resolution; and the Crown Agents may also,
with the approval of the Governor, borrow from time to time by
the issue of such Treasury bills such sums as may be required
to pay off at maturity bills already lawfully. issued by them and
outstanding.

3. The principal moneys represented by the Treasury bills
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.

4. The proceeds of the issue, of the Treasury bills shall be
paid into the general account of the Colony with the Crown
Agents for the Colonies.

5. Every Treasury bill issued tinder this Ordinance shall
be for the sum of 1,000 or a multiple.of 1,000 and shall be
payable at par at such time or times as the Governor or the
Crown Agents for the Colonies on his behalf shall before the
issue of such Treasury bill fix and determine, but not later than
one year from- the date of issue.

6. 'The Governor shall appropriate out of the general
revenues of the Colony the necessary sum to pay, the principal
represented by the Treasury bills and shall remit that sum to
the Crown Agents for the Colonies in London at such time as
will enable them to pay the principal at their office in London
when the Treasury bills fall due.

7. Upon repayment of the, principal moneys represented by
the Treasury bills, the bills shall'be delivered up to the Crown
Agents, to be by them cancelled and forwarded to the Govern-
ment of Hong Kong.
[Originally No. 6 of 1926.] Short title. Power to borrow by the issue of Treasury bills. Principal of bills. Proceeds of bills. Amounts and period of currency of Bills. Repayment of bills. Cancellation of repaid bills.

[Originally No. 6 of 1926.] Short title. Power to borrow by the issue of Treasury bills. Principal of bills. Proceeds of bills. Amounts and period of currency of Bills. Repayment of bills. Cancellation of repaid bills.

https://oelawhk.lib.hku.hk/items/show/1592

1937

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No. 6 of 1926

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