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made empowering him, the Minister, to grant licences to China Companies to employ non-British Managers, under special circum- stances (such as those in which the British-American Tobacco Co. now find themselves).
(e) That the Company here, through the English Company, have approached the Foreign Office and also the Colonial Office.
(f) That the Company here, on hearing that their pro- posals at Peking had not been communicated to the Registrar of Companies here, have given full information of their wishes, and intentions, to the Registrar.
I have no hesitation in advising that if, in view of the grave difficulties which the British--American Tobacco Co. (China) Ltd. have in conforming with the China (Companies) Amendment Order in Council, 1919, further amendment of our Company law were made, providing for non-British manage- ment of China Companies, under licence, then, the whole object of the Order in Council of 1919 would in great part be nullified.
As you are aware, China Companies heretofore under non-British management, have treated the new Order in Council seriously and have, with few exceptions, already taken steps to comply with its provisions.
The Shanghai Life Insurance Co.,Ltd., the
shares of which are mostly in non-British hands, have been
informed that if they diligently proceed with a scheme to sell
the whole of their undertaking to the China Mutual Life Insurance
Co.,Ltd (as stated to you in writing), a reasonable time would
be allowed them to comply with the Order before legal proceedings
thereunder for non-compliance were taken. I an now however
informed that this Company are in expectation of some further
legislation whereby a licence will be granted them, such as the
British-American Tobacco Co. (China) Ltd. have suggested.
The steps which the Shanghai Cotton Manufactur-
ing Co.,Ltd., a Japanese controlled Company, proposes to take in
apparent compliance with the new Order in Council, are the subject
of litigation instituted by British shareholders.