36
2.
Company as defined above had to keep its registered
office and registor of members at Shanghai. The
privilege previously held by such companies when on the
Hongkong Register was withdrawn for sec. 7 (1) of the
Hongkong Companies Ordinance No. 31 of 1915 provides
(inter alia) that soc. 35 of the Hongkong Companies
Ordinance 1911 shall not apply to unina Companies.
ás a result, a Hongkong company and a Hongkong China
Company can, subject to the consent of the Governor, but
a China Company cannot under any circumstances, acquire a
licence to keep a local register. Your Petitioners are
not ware of the reason which prompted diis discrimination
against a Chine Company, for coup mies incorporated in
England under the English Companies .cts are entitled us
of right, provided they are authorised by their Articles of
~ssociation, to keep a local register in any place where
they carry on business (section 34 of the Companies „ct
1908).
fhe removal of the privilege of keeping a legister of
Members at some place othernthan at the Head wffice of the
Company, which they once enjoyed, has wrought a real
hardship to shareholders in China Companies since it has
had the effect of confining transactione in the shares of
China Companies to the very limited changhai market, and
at the present time the state ɗ unrest in China and the
stagnation in trade by removing unemployed money hus
rendered impossible the absorption of sheres that may
happen for one reason or other to come into the market.
de there, pray that you will forward this petition to
the proper qu rter with a recomendation that the ordin›nce
be amended so as to peralt China Companies, subject to
consent/