TRUSTEE (HONGKONG GOVERNMENT SECURITIES) ORDINANCE, 1901

TRUSTEE (HONGKONG GOVERNMENT SECURITIES) ORDINANCE, 1901

No. 20 of 1901.

To facilitate the Investment of Trust and other Funds in the
United Kingdomin Hongkong Gocerninent Securities.
[10th December, .1901.]
WHERICAs by the Colonial Stock Act, 1900, tlie securities in which a
trustee may invest under the powers of the Trustee Act, 1893, are
declared to include any Colonial Stockis registered in the
United Kingdom in accordance with the Provisions of the Colonial
Stock Acts, and with respect to which there have been observed
such conditions, if any, as the Lords Commissioners of tfle Treasury
may, by Order notled in the London Gazette, prescribe; AND
WHEREAS the Lords Commissioners of the Treasury have, by an
Order dated 6th December, 1900, prescribed as two of the said
conditions that a Colony shall provide by legislation for the pay-
ment, out of the revenues of the Colony, of any sunis which ma
become payable to stockholders under any judgment, decree, rule,
or order of a Court in the United Ringdoin, and that the Colonial
Government should place on record a. forinal expression of their
opinion that any colonial legislation which appears to the Imperial
Government to alter any of the provisions affecting the stock to
the injury of the stockholder, or to involve a departure from the
original contract in. regard to the stock, would properly be dis-
allowed; AND WHEREAS.it. is expedient that provision should be
made to enable advantage to be taken of the said Acts in respect
-of investment of trust funds in HOngkong Government securities:--
1. The Trustee (Heongkong Government Securities) Ordinance,

2. In this Ordinance,---The Colonial Stock Acts---mean the Ae
of Parliament known as the Colonial Stock Acts, 1877 to 1900.

3. This drdinarice shall apply to all securities heretofore or here-
after created or issued on behalf of the Government of Hongkong
to which the Colonial Stock Acts apply, and which are registered
in the United Kingdom in accordance with the provisions of those
Acts, each and all of which securities are hereinafter referred to as
---Hongkong G-overnment Securities'

4.-(1) Whenever, by the final judgment, decree. rule, or order

of any Court of competent jurisdiction in the United Kingdom, any
sum of money is adjudged or declared to be payable by the Govern-
ment of Hongkong in respect of any Hongkong Government

1 * As amendedoby No. 1 of 1912.
securities, the Government shall forthwith pay that sum out of the
funds in the hands of the Crown Agents belonging to the Govern-
ment, without further appropriation than this Ordinance.

(2) For the purposes of this section, ---final judgment, decree,
rule, or order,' mean, in case of appeal, the final judgment, de-
cree, rule, or order of the ultimate Court hearing the appeal.

5. In order to enable every such payment to be duly made, a
certificate under the hands of the Crown Agents, specifying the

suni so paid under the order of any such Court, shall be sufficient
authority to the Auditor General or other officer having the audit-
ing of their accounts for passing such sum without further
appropriation.

6. If at any tline her eafter an Ordinance is passed which appears
to the Imperial Government to alter any of the provisions affecting
the Hongkong Government securities to the injury of the holder

thereof, or to involve a departure from tht original contract in regard
to those securities, that Ordinance will properly be disallowed.
[63 & 64 Vict.c.62.] [56 & 57 Vict.c.53.] Short title. Interpretation.[40 & 41 Vict.c.59;55 & 56 Vict.c.35;63 & 64 Vict.c.62.] Application of the Ordinance. Provision for payment of money due to stockholders by Government of Hongkong. Certificate by Crown Agents. Provision for disallowance of Ordinance injuriously affecting Government securities.

[63 & 64 Vict.c.62.] [56 & 57 Vict.c.53.] Short title. Interpretation.[40 & 41 Vict.c.59;55 & 56 Vict.c.35;63 & 64 Vict.c.62.] Application of the Ordinance. Provision for payment of money due to stockholders by Government of Hongkong. Certificate by Crown Agents. Provision for disallowance of Ordinance injuriously affecting Government securities.

https://oelawhk.lib.hku.hk/items/show/923

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