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Mr. Green then Acting Attorney General, being called on, likewise forwarded his opinion, and in consonance with that opinion I now submit the matter for your consideration.
I enclose copies of all the above documents.
Should a local Ordinance incorporating a company be deemed requisite or desirable, the following points may be noted for deliberation:
1. Accounts to be submitted to annual examination.
2. Rates to be reduced when profits reach a certain amount.
3. Liabilities limited to double the share.
4. Names of Shareholders to be registered preliminarily.
5. Deposits or shares to be paid up in advance and reported.
6. Works to be begun without knowledge of Surveyor General and written sanction of Governor.
Great advantage to the City and its population would accrue from this measure, I think, undeniable but as the matter at present stands it is advisable that before taking any steps the views of Her Majesty's Government and the legal opinion of the Law Officers of the Crown be obtained.