Their rights partially granted by Ordinance No. 4 of 1876. The present Ordinance therefore proposes to repeal No. 4 of 1876 to enact a more general law founded on the English measure of 1867 and to amend the Companies Ordinance 1862.
It was pointed out that the majority of the members, including the Chief Justice, considered that the China Traders' Company had shown what a necessity had existed in their case for a modification of the law, evidenced by the passing of the Ordinance No. 4 of 1876.
And as that Ordinance might be construed as granting special privileges to a company, it was evidently more statesmanlike to pass a law which placed all Companies on the same footing.
9.
The Chief Justice objected to the withdrawn Ordinance for the reasons:
a. Because the Ordinance had been "previously deliberately rejected and substantially" (Par. 6).
b. Because the circumstances remained unchanged.
c. On moral, commercial, and legal grounds; and because it is a copy of the English Act of 1867, of which it is enough to quote the first paragraph.