HONG KONG TREASURY BILLS (LONDON) ORDINANCE

HONG KONG TREASURY BILLS (LONDON) ORDINANCE

CHAPTER 75.

HONG KONG TREASURY BILLS (LONDON).

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 is the LIong Kong Treasury Bills
(London) Ordinance.

2. The Governor whenever authorized thereto by a
resolution Of the London Council may request the Crown
Agents for the Colonies to borrow by the issue in London
of Hong Kong Governement Treastiry bills sunis not exceed-
ing the amount specified in such resolution; and the Crown
Agents may also, with the approval of the Governor, borrow
front time to time by the issue of such Treasury bills such
SUMS as may be pay off at maturity bills already
lawfully issited 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 aiid assels 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 under this Ordinance shall be for the
stint of one thousand pounds sterling or a multiple thereof 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 is will enable theni to pay the
principal at their office in London when the Treasury bills fall due.

7. Upon repayinent 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 Government of Hong Kong.
Originally 6 of 1926. Fraser 6 of 1926. Short title. Power to borrow by the issue of Treasury bills. Principal of bills. Amounts and period of currency of bills. Repayment of bills. Cancellation of repaid bills.

Originally 6 of 1926. Fraser 6 of 1926. Short title. Power to borrow by the issue of Treasury bills. Principal of bills. Amounts and period of currency of bills. Repayment of bills. Cancellation of repaid bills.

https://oelawhk.lib.hku.hk/items/show/1769

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