HONG KONG TREASURY BILLS (LOCAL) ORDINANCE

HONG KONG TREASURY BILLS (LOCAL) ORDINANCE

CHAPTER 74.

HONG KONG TREASURY BILLS (LOCAL).

To regulate the issue of Hong Kong Treasury bills in Hong Kong.

[23rd April, 1926.]

WHEREAS it may be expedient from time to time that the Governor
should borrow money by the issue of Hong Kong Treasury bills
in Hong Kong:

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
(Local) Ordinance.

2. The Governor whenever authorized thereto by a resolution of
the Legislative Council may borrow by the issue in Hong Kong of
Hong Kong Government Treasury bills sums not exceeding the
amount specified in such resolution ; and may also borrow from time
to time by the issue of such Treasury bills such sums as may be
required to pa), off at maturity bills already lawfully, issued 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 genenil revenues of the Colony

5. Every Treasury bill issued under this Ordinance shall be for the
sum of ten thousand dollars or a multiple of ten thousand dollars and
shall, be payable at par at such time or times as the Governor shall
before the issue of such Treasury bill fix and determine, but not later
than one year frorn 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.

7. Upon repayment of the principal moneys represented by the
Treasury bills, the bills shall be delivered up to the Government of
Hong Kong to be cancelled.
Originally 5 of 1926. Fraser 5 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 5 of 1926. Fraser 5 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/1768

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