An Ordinance enacted by the. Governor of Hongkong, with the advice and consent of the Legislative Council thereof, to amend the Law in respect of the sale of Shares in Companies registered under the Companies Ordinances 1865 to 1886 and in other Joint Stock Companies.
(IS) G. Dicsy Baxxer, Officer Administering the Government, [30th July, 1891.]
Whereas it is expedient to make provision for the prevention of contracts for the sale and purchase of shares and stock in joint stock Companies of which the sellers are not possessed or over which they have no control: Be it enacted by the Governor of Hongkong; with the advice and consent of the Legislative Council thereof, as follows:—
1. That all contracts, agreements and tokens of sale and purchase which shall from and after the 1st October, 1891, be made or entered into for the sale or transfer, of any share or shares, or of any stock or other interest in any joint stock Company constituted under or regulated by the provisions of any Act of Parliament, any local Ordinance, Royal Charter, or Letters Patent, issuing shares or stock transferable by any deed or written instrument, shall be null and void to all intents and purposes whatsoever unless such contract, agreement, or other token shall set forth }and designate in writing such shares, stock, or interest by the respective numbers by which the same are distinguished at the making of such contract, agreement, or token on the register or books of such joint stock Companies as aforesaid, or where there is no such register of shares or stock by distinguishing numbers, then unless such contract, agreement or other token shall set forth the person or persons in whose name or names such shares, stock, or interest shall at the time of making such contract stand as the registered proprietor thereof in the books of such joint stock Companies, and every person whether principal, broker, or agent, who shall wilfully insert in any such contract, agreement, or other token any false entry of such numbers, or avy name or names other than that of the person or persons in whose name such shares, stock, or interest shall stand as aforesaid, shall be liable on conviction before a magistrate to a penalty not exceeding $250 or to imprisonment with or without, hard labour for a term not exceeding 6 mouths.
Passed the Legislative Council of Hongkong, this 24th day of July, 1891, A. M. Tuomson, Acting Clerk of Councils, Assented to by His Excellency the Officer Administering the Government, the 30th day of July, 1891.
W. Meicu Goopman, Acting Colonial Secretary,
Text read from the printed page and cleaned; old type leaves the occasional error.