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No
194
Sir,
Pupp
REC
O
23129
REG 26 JUN 14
GOVERNMENT HOUSE.
HONGKONG. 4th June, 1914.
251
1
ov ure
I have the honour to transmit for your consider-
ation a Bill entitled "An Ordinance to amend the Hongkong and
"Shanghai Bank Ordinance, 1866" together with Objects and
Reasons drawn up by the Attorney General.
2.
This Bill has been prepared at the request of the
Bank, and I am informed that the ambiguity of the wording of
Section 20 of the existing Ordinance recently gave rise to an
action against the Bank, and that though the Bank succeeded
before the Supreme Court of Hongkong, the point raised cannot be
considered as entirely free from doubt. In the case referred to
an appeal to the Privy Council was at one time threatened, but
was not proceeded with.
3 +
The third paragraph of the Objects and Reasons is
not true at present, but the Bill would, of course, not be
introduced until the Court of Directors had been duly authorised
as stated.
4.
The exact effect of the words "or by" before the
words "the Company" near the end of Clause 2 of the Bill is not
understood here, but as the draft is that of Mr. Frederick
Whinney of Lincoln's Inn, the Bank's advisers here are anxious
that the words should be retained though they do not appear to
give the Company any additional power.
5.
I also enclose a draft of a Notice which the
THE RIGHT HONOURABLE
LEWIS HARCOURT,
M.P.,
&c.
&C..
800-