MOR
394
E
inrangements, "subsisting between Her Majesty's Government and Local Governments.
It appears, however, from a Report made to this Department that the attention of the Board of Trade was drawn to a Clause in the Deed of Settlement stating that "the business of the Company should be carried on at the Head Bank and at such other places in England or elsewhere as the Court of Directors might from time to time appoint."
It is stated that Mr. Bellender, then standing Counsel to the Treasury, was particularly called to this point and words were accordingly inserted in the Charter enabling the Company to carry on the business of Banking in England.
The clause above referred to, was intended to have the effect that the Company should not be considered to imply any power under the Charter beyond the scope of the English Banking Act.