USURY ORDINANCE, 1886
Title
USURY ORDINANCE, 1886
Description
No. 5 of 1886.
To repeal the Usury Laws and to fix a Legal Rate of Interest.
[24th March, 1886.]
1. The Usury Ordinance, 1886.
[s. 2, rep. No. 62 of 1911.]
3. Where interest is payable on any contract, express or implied,
or on any debt or sum of money , but the rate of such interest is
not fixed by the contract, or by the parties, or by rule of law, the
rate thereof shall not exceed 8 dollars per cent. per annum : Pro-
vided always that it shall be lawful for any Conrt in awarding
interest in any action, suit, or matter , to allow a lower rate of
interest, if the circumstances of the case render it just and
expedient.
4. Nothing in this Ordinance shall be taken to affect or repeal
any Ordinance to pawnbrokers.
5. The Acts and parts of Acts repealed by the Act 17 and 18
Victoria, chapter 90, shall have no force in this Colony.
Short title. Rate of interest where no agreement, etc. [17 & 18 Vict. 90 s.2.] Saving as to pawnbrokers. [ib.s.3.] [cf. No. 1 of 1860.] Repeal of English Acts.
To repeal the Usury Laws and to fix a Legal Rate of Interest.
[24th March, 1886.]
1. The Usury Ordinance, 1886.
[s. 2, rep. No. 62 of 1911.]
3. Where interest is payable on any contract, express or implied,
or on any debt or sum of money , but the rate of such interest is
not fixed by the contract, or by the parties, or by rule of law, the
rate thereof shall not exceed 8 dollars per cent. per annum : Pro-
vided always that it shall be lawful for any Conrt in awarding
interest in any action, suit, or matter , to allow a lower rate of
interest, if the circumstances of the case render it just and
expedient.
4. Nothing in this Ordinance shall be taken to affect or repeal
any Ordinance to pawnbrokers.
5. The Acts and parts of Acts repealed by the Act 17 and 18
Victoria, chapter 90, shall have no force in this Colony.
Short title. Rate of interest where no agreement, etc. [17 & 18 Vict. 90 s.2.] Saving as to pawnbrokers. [ib.s.3.] [cf. No. 1 of 1860.] Repeal of English Acts.
Abstract
Short title. Rate of interest where no agreement, etc. [17 & 18 Vict. 90 s.2.] Saving as to pawnbrokers. [ib.s.3.] [cf. No. 1 of 1860.] Repeal of English Acts.
Identifier
https://oelawhk.lib.hku.hk/items/show/823
Edition
1912
Volume
v1
Subsequent Cap No.
23
Cap / Ordinance No.
No. 5 of 1886
Number of Pages
2
Files
Collection
Historical Laws of Hong Kong Online
Citation
“USURY ORDINANCE, 1886,” Historical Laws of Hong Kong Online, accessed November 23, 2024, https://oelawhk.lib.hku.hk/items/show/823.
