10
now obtain incorporation elsewhere than in
for instance in India. These
England lay for regulations might be stile in force in
various Colonico but
if
he believed they
existed somewhat
as a measure of protection
to local Banking interests as in Australia. when he perceived that even Banks incorporated by Royal Charter sour debarred from establishing without the consent of the
Here in Houghing there existed no such protection nor was it desirable that there shied be- but at the same time while Simited Banko
Colonial Anthorities. Here in
formed in England in India conto Come
and trade here to
any exclint, it seemed
unfair that the people of the place should
be
themselveste debarred from forming similac
associations
in
equally unrestricted terms.
The exception thus made in the operation
of the Companies Ordinance might of omise be
be of
no
amsequence but if so the amendment would be fruitless. If on the other hand local Banking Companies
were to be formed in obong thing, they should cutainly be allowed the same
as onder Bank's coming here
advantages
from England or India.
(Fru copy) Malexande
Aching Colonial Secutary