hereafter be formed, payable also at the Head Office, in Hongkong currency, exchange ruling at the time of presentation for payment.
The Corporation contemplate applying shortly for Government authorization to open Branches at Shanghai, Canton, Foochow, &c., where agencies are already in operation; the consent of the Lords of the Treasury to that effect having been obtained, application may then be made to render it convenient to the Corporation's compliance with the above condition.
The requirements as to Agencies in India being subject to the Regulation of the Government of India consequent on the arrangement made by their Lordships with the Secretary of State for India will be carefully complied with by the Corporation and can be provided for, either by the insertion of specific clauses in its Deed of Settlement, or in such other manner as their Lordships may suggest; though the Directors imagine that the opinion of the Attorney General upon this point will upon consideration show that absolute legislation on the question is not necessary.
The interdiction in the Corporation's Act regarding investments on Stock, or advance on its shares, is to be embodied in the Deed of Settlement.