401
<
which is an Act passed " to regulate Soint "Congland", d Charter of
Stock Wanks
Incorporation has been granted to this Company,
which has bein Construed as
Corporation to Carry on
authorising the
in it Corporative
Capacity all the Cuisiness of banking, except the issue of Promessory & Notes payable to
on demand in other parts of Her Dominic as than England.
bearer
Majesty's
My Lords have
720
knowledge of
the Circumstances under which the recited
Charter evas
granted, and are not aware therefore, whether or not the legal question was raised as to the propriety of granting such exctended powers undor the Act in question : but they regret to have to observe that the opant of these powers if legal and effectiral, will have involved a deportivee from the understanding
n which Draft Charters for the Incorporation of Companies for Parrying
on
Banking becsoness in Her Majesty's Colonices have been, for many years past, referred for the opinion of this Board
before the same are submitted to tee
Majestof in Council.
C.
My Lords infer from the terms of the Petition that the assumed authout if to Carry
Crisiness of banking
ORI
He
en
places beyond Congland is derived rather from the Deed of Settlement, weited in the Charter than cxxprefly from the Charter itself; but My Lords assume that the Deed of Settlement was submitted to the Board of Trade under the 44th section of the Act of 748 Wict : Cap: 115, and that their Lordships of the Committer had. Hherifore Cognizance, and approved of the Clause in that Deed which declared that the Company is Constibuted for the purpose of carrying
the trade and business
of a Barkerin
England
d
ov
elsewhere
And although
a question might arise as to how far thes Charter itself Confirmed that power, the same is inferentially admitted in the provisions in the Charter that" No
"Agencies
should be maintained.
or
established
......