C
-3-
373
as
for a period of five years.
that, so far can be seen at present, local legislation on this subject
will follow the legislation of the Imperial Parliament.
No doubt it will be understood generally
9. As paragraph (b) of section 2(1) of the Act refers to certain United Kingdom legislation, it was thought better to state definitely in paragraph (b) of section 4(1) of the Ordinance the cases to whion the prohibition will apply where the business is carried on by a firm
or individual. The paragraph in the Ordinance is based on section
11) of the Trading with the Enemy Amendment Act, 1916, 5 and 6 Geo.5, c.105. Certain words which appear in that section are omitted,but probably they would not add much to the meaning, and they might have made it less clear.
10.
Section 6(2) of the Ordinance gives the Governor in Council power to make regulations governing in the widest manner the procedure and principles to be followed in the liquidations contemplated by the ordi- nance. It seemed better to give an elastic power in this case,
as it is difficult to foresee and to provide for all the points which might arise. It is, however, to be hoped that the prohibitions of the Ordi- nance will be sufficient to prevent any attempt to carry on any banking business in contravention of its provisions, and that accordingly the necessity for winding up rules will not arise.
11.
Section 7 of the Ordinance gives powers of inspection, searen and seizure. It was thought better to give this expressly and not by ref- erence to other legislation. The section was based on section 3 of the Trading with the Enemy Ordinance, 1914, Ordinance No. 25 of 1914.
12.
In my opinion this is an Ordinance to which His Excellency the Officer Administering the Government may properly assent in the name of His Majesty and on His nehalf.
Attorney General.