SIG
JA
518
and the
go behind the register of shareholders;
beneficial owner would by employing a British
trustee submit his shares to British control.
The aim of the special contract suggested in
my despatch, No. 31, of 18th March,1911, would
thus be attained.
The question of the nationality of the pro-
moters of companies has been omitted both by the
Judge and by the Assistant Judge. The director-
ate is doubtless more important and I surmise that
the provision concerning its constitution is taken
to render the safeguard as to promoters, which the
Judge last karch favoured as preventing reckless
promotion, superfluous.
I gather that the Judge disapproves of the
Consulate local registers provided in the enclosure
to your Cicular Despatch Accounts Series of 26th
February, while retaining the reservation of the
Secretary of State's discretion to refuse recogni-
tion and protection to any company in China. Such
refusal
5