Wel
.Y 400
COPY.
Fondosure 6. in No.
191
isovíol H .4 .7l nok ent yd berou naltulɔcəfi
mi ni ti dødt Ihrpet vårt to noirigo sốë ai đi
emorneq dent ɔnożnal to ynold edt to dentadni dead aft a tot morte rart habuiore ed i Ivorie y llenoiden nearted *。 to not foeb Gið yrkwollet szroy of de-al da to boiroq Testkda yine ed godt vykimanendre derít han quo eq .eomedii tokuda tebrw yngle) edt atri
Hon. Colonial Secretary,
1. The proposals of the Chamber of Commerce are as
follows:-
(a) "British" traders to insure only with "British"
companies.
(b) "British" companies to reinsure only with
"British companies.
(c) "British" Insurance Companies, to employ only
"British" ngents in British territory.
(d) A tax to be imposed on all premis collected by "foreign companies in British territory.
"
(e) The books of all "foreign" insurance companies
to be open to inspection by "properly appointed" auditors and to be kept in English.
2. The proposals are not as definite rs they might be. For instance, the term "British" seems to be used in four different senses. I suppose that "British traders" means traders in British territory. In the former part of (b) "British" means, I suppose, companies incorporated under the low of some part of His Majesty's dominions. In the latter part of (b) and in (o) "British companies" must mean companies in the constitution of which there is some security against alien control. The nature and extent of this security is not defined. The term cannot mean companies incorporated in British territory, because confonies incorporated abroad might then be able to evade the law by forming subsidiary companies. "British ngents" must include (^) British subjects, (b) firms of some undefined degree of British subject composition, and (c) companies in the composition of which there is some undefined degree of British subject control. The term "foreign companies" is also ambiguous, as it is not clear whether the reference is ta the place of incorporation or to the fact of alien control. "Properly appointed auditors" is also rather vague. It is not
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