ISSUE OF DUPLICATE BONDS ORDINANCE

ISSUE OF DUPLICATE BONDS ORDINANCE

CHAPTER 254.

ISSUE OF DUPLICATE BONDS.

To authorize the Accountant General to issue duplicate
bonds in lieu of bonds issued under the Public Worls
Loan Redeinption Ordinance, 1933 and the LIong Kong
Dollar Loan Ordinance (Chapter 73 of the Revised
Edition) which have since been lost or destroyed.

[22nd October, 1948]

1. This Ordinance may be cited as the Issue of
Duplicate Bonds Ordinance.

2. In this Ordinance---
'relevant Ordinances' means the Public Works Loan Re-
demption Ordinance, 1933 and the Hong Kong Dollar
Loan Ordinance.

3. The Accountant General may in his absolute dis-
cretion, on being satisfied by such evidence as he shall
deem sufficient that a bond issued under either of the re-
levant Ordinances has been lost or destroyed, issue a fresh
bond to the person who in his opinion would at the time of
such issue be entitled to be the holder of the bond so lost
or destroyed.

4. Except in cases where upon the destruction of a
bond issued under either of the relevant Ordinances an
acknowledgment in writing of Government's continued in-
debtedness is held by the applicant for a fresh bond the
Accountant General may make the issue of any fresh bond
conditional upon such indemnity and guarantee being-
entered into as lie may in his absolute discretion requrre.

5. (1) Any fresh bond issued under the provisions of
this Ordinance shall so far as possible and subject as herein-
after provided be a duplicate of the lost or destroyed bond
in place of which it is issued: Provided that-
(a) there shall be removed from such bond by the
Accountant General such number of coupons as
shall represent the interest that has been paid at
the date of issue; and





(b) such fresh bond may have a number allotted to it
which differs from the number of the bond so lost
or destroyed and shall contain such particulars of
the bond in place of Milch it is issued as are reason-
ably ascertainable and an indorsement bearing the
signature of the Accountant General that it is issued
pursuant to the provisions of this Ordinance. -

(2) Without prejudice to the provisions of Subsection
(3) a fresh bond issued under this Ordinance shall be deemed
for all purposes to be the bond in place of which it is issued.

(3) Upon the production to the Accountant General of
the original bond in place of which a fresh bond has been
issued under this Ordinance the latter shall cease to have
any validity and shall be delivered up by the owner to the
Accountant General for canceflation.

6. Subsection (3) of section 5 shall cease to have any
application upon the expiration of six months after notifica-
tion in the Gazette by the Accountant General of his inten-
tion to issue a fresh bond under this Ordinance in lieu of a
bond issued under either of the relevant Ordinances :
Provided that this section shall not apply unless stich
notification gives such partiCLIlars of such lastly mentioned
bond as would reasonably enable the holder thereof to
identify it.

7. In any case in which subsection (3) of section 5
has ceased to apply in respect of any bond issued wider
either of the relevant Ordinances such bond shall be deemed
to have been cancelled and shall not confer any right Upon
the holder thereof or impose any liability on Government.
54 of 1948. Short title. Interpretation. (15 of 1933.) (Cap. 73.) Accountant General may issue fresh bonds for lost or destroyed bonds. Indemnity and guarantee may be required save where acknowledgment exists. Form and effect of issue of fresh bond. [s. 5 cont.] Fresh bond to continue to have validity if original bond not produced within six months of certain notice. Circumstances in which original bond shall be deemed to have been cancelled.

54 of 1948. Short title. Interpretation. (15 of 1933.) (Cap. 73.) Accountant General may issue fresh bonds for lost or destroyed bonds. Indemnity and guarantee may be required save where acknowledgment exists. Form and effect of issue of fresh bond. [s. 5 cont.] Fresh bond to continue to have validity if original bond not produced within six months of certain notice. Circumstances in which original bond shall be deemed to have been cancelled.

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