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this respect should be followed.
Clause 27(4). The same criticism applies.
Clause 27(3). The suggestion contained in the mar-
gin, that the balance sheet to be filed shall be accom-
panied by a profit & loss account, will require careful
consideration. When the Imperial Companies Bill of 1907 was passing through Parliament, very strong objections were raised to requiring companies to file a profit &
loss account. It was said that such a requirement would
result in the giving of information to rivals in trade. As a result, Parliament decided only to require the fil-
ing of a balance sheet.
Clause 31. The words in the margin are apparently
suggested to meet the case of Shanghai companies and to enable these companies to keep their registers in Shang- hai, in accordance with clause 35, which provides that the registrar may license companies to keep local regis- ters. Clause 35, however, also provides that a company keeping a local register shall transmit to its registered office in HongKong a copy of every entry in its local register, as soon as may be after such entry is made,
and
the company shall cause to keep at its registered office, duly entered up from time to time, a duplicate or dupli- The result. cates of its local register or registers. will be that Shanghai companies will, in effect, have to keep two registers.
Clause 41(3). I am to point out that five lines from