375
"Any seven or more persons associated for any
"lawful purpose except that of carrying on the busi-
"ness of banking may, by subscribing their names to
"a Memorandum of Association and otherwise com-
"plying with the requisitions of this Ordinance in
"respect of Registration, form an Incorporated Non-
"rany, wita or without limited liability
12
The section quoted follows the provisions of the
Imperial Act, save as to Banking Corporations, it
being desired, apparently not to interfere with the
constitution of nativo banking nongs.
"Persons" undoubtedly includes en olien not
being an alien enemy. The requisitions of the Com-
panies Ordinances having been fulfilled a Certifi-
cate of Incorporation is granted by the Registrar of
Joint Stock Companies.
This Certificate as provided by Section XVIII
of the 1865 Ordinance is conelusive evidence that
tne requisitions necessary for registration have been
complied with,
It may be noted that registration carries wita
it a power to hold land and therefore a Company so
registered may apply to become the holder of land
on any Consuler Register.
That any seven or more persons should be able
to form themselves into an Incorporated Company is
considered by many writers on such matters in Eng-
land to be a dangerous power and one calling for
strict regulations.
The Hongkong Ordinances nowever having followed
the Imperial Acts in this matter, Her Majesty's Con-
suls cannot do otherwise than protect Britisa Com-
penies as such, whatever may be the nationality of
the individual Directors, Managers or Snarenolders.
Protection is primarily to be accorded to the
business carried on and to the property of the
Company.
If personal protection is a necessary part of
complied
suca