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without any Settlement which may exist & Buch Port which has been leased in perpetuity from the original Chinese ownor under a title deed validated by the Chinese authorities.
The time will certainly come, or may possibly have already
come when oven the bona fide foreign land owner should
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surrender the privilaged position in respect of immunity from taxation etc. which he has hither to enjoyed. A fortiori it would seem that the protection of extra-territoriality should no longer be extended to Chinese beneficial owners of foreign registered land, Possibly the best way of remedying what is undoubtedly a real grievance would be to prohibit any foreigner acting as Trustee for a Chinese in respect of the beneficial ownership of land. The position of Chinese possessing dual nationality would have to be considered in this connection, but should not present great difficulties, as such Chinese could obtain foreign registration of their land without having recourse to a Trustee. In any recom.ondations which the Commission may make under this head care should be taken to safeguard the large vested interests at Shanghai and elsewhere.
22. (3) Company Law and Chinose.
It is possible that there may be brought to the notice of the Commission a number of abusos which owe their existence to the oporation of foreign (especially British) Company Law. Chinese by forming themselves into a British Company are able to withdraw their business and to some extent the persons of their managers and employees from the jurisdiction of their own authorities, and the friction to which this gives riso tends to jeopardise the position of bona fido foreign com- panies. Lievertheless it is of vital importance to British
commercial interests that the advantages and conveniences
which legitimate business enterprises enjoy through the
operation/
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