be Royal Charter expressly for purpose of carrying on business
the
business in the Colonies, in contradistinction to Banks incorporated under the authority of Acts of Parliament passed for the regulation of Banking Companies in
this Country...
The Oriental Bank Corporation was within the Charter Category: - It was incorporated by Royal Charter "in virtue of the Act 7 & 8 Victoria C.118," for the regulation of Joint Stock Companies, in England." In consequence of a Petition presented to Her Majesty in Council, stating that the Petitioner and others had formed a Company for the purpose of carrying on the business of Banking in England under the provisions of the said Act.
It did not appear from that Petition that such extended business, and the Bank now claims to exercise, in the Colonies, under the Charter, was contemplated. If that intention had been clearly announced the application for the Charter would have been submitted for the opinion of this Board and the Secretary of State for the Colonies, and it is certain that, if that had been followed, objections would have been raised to the grant of such powers on the ground of their interference with the regulation of Banking business in the Colonies under arrangements