HONG KONG TREASURY BILLS (LONDON) ORDINANCE

HONG KONG TREASURY BILLS (LONDON) ORDINANCE

LAWS OF HONG KONG

HONG KONG TREASURY BILLS (LONDON) ORDINANCE

CHAPTER 75





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 Oversea Governments and Administrations 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.

2. The Governor whenever authorized thereto by a resolution of the
Legislative Council may request the Crown Agents for Oversea
Governments and Administrations, hereinafter referred to as the Crown
Agents, 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.

5. Every Treasury bill issued under this Ordinance shall be for the
sum 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 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 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 Government of Hong Kong.
Originally 6 of 1926. (Cap. 75, 1950.) Preamble. 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 6 of 1926. (Cap. 75, 1950.) Preamble. 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/2382

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