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business of concerns of every description in order to safe- guard to the fullest extent the Bank's position with regard to obligations which may be due to the Bank by the concern in question, and it may be for the general benefit of mercantile firms in the Far East in certain cases that a Bank should have the powers given in this subsection rather than possibly be obliged to enforce immediately any rights they may have against the concern in question by a sale of its assets or otherwise in accordance with the terms of any Deed of Charge or Mortgage which may have been given to the Bank as security for the banking facilities, which would entail the closing down of the concern. It is obvious that the Bank, except for some such reason as above, would never directly acquire any business which would not be in the
nature of a banking business, and then only for the protect- ion, not only of the Bank but also of the shareholders or principals of the concern so acquired, and it is presumed that the draftsman of the Bill, Sir Henry Pollock, K.C., who
is now absent from the Colony, inserted this subsection to provide the Dank with these powers especially to provide for the above contingencies. If, however, the Secretary of State is still of the opinion that this clause is too wide, the Corporation would be prepared to substitute for clause ss
4 the following subsection:- "To acquire and undertake the
"whole or any part of the business, property and liabilities
"of any person or company carrying on any business which the "Bank is authorised to carry on or possessed of property "suitable for the purposes of this Bank", which is a suggest-
ed form for a Bank (viz: Palmer 15th Ed.p.510).
With regard to the objection to subsection (5), it
is suggested that, to meet the Secretary of State's wishes,
this