43
sufficiently wide, especially when taken in connection with
other of the draft Regulations.
4.
The proposal to omit from the first line of .
subsection (8) the words "form", "promote" and "subsidise",
making the subsection read: "To finance and assist railways,
tramways" etc. appears to the Board a satisfactory amendment
of the previous draft of this subsection.
5. The omission of subsection (12) appears to the
Board satisfactory, inasmuch as all the powers with
reference to the holding, and turning to account of land
which are necessary to the Bank would seem to be contained
in subsections (6) and (11).
6.
The Board note that no reference is contained in
the letter of the Chief Manager to the provisions in
subsections (13) and (14), in virtue of which the Bank
would appear to contemplate seeking for concessions,
franchises, monopolies, etc. from such Government
authorities and other bodies as might be in a position to
grant them, and turning such concessions, etc. to account.
Whether these powers are really necessary to the effective
carrying out of the business of the Bank, or are wholly
desirable in view of the special relations existing between
the Bank and the Government of the Colony, is a matter which
might, in the opinion of the Board, receive some
consideration.
7.
It would appear, further, that the specific
reference in subsection (18) to obtaining authority "for
enlarging the powers of the Bank under the Ordinance etc."
should be omitted, leaving the question of whether enla
larged
powers are required to be raised if and when new Ordinances
are applied for. It does not appear essential to remove
all