sof
1907
44
3.
In these circumstances it appears to me to be impossible to
agree with the contention that the provisions of Section 7(1)
of Ordinance No. 31 of 1915 wrought any hardship whatsoever
to shareholders in ChinяCompanies.
3.
The reference in the retiti n to the rights of
Companies incorporated in England appears to me to be made to
leading. The right of such Comp mies to keep "colonial
registers" was first introduced by the Companies (Colonial
Registers) Act, 1883. the preamble to which read as follows:
"Whereas many companies registered under the Companies
Act, 1862, carry on business in Iritish Colonies, and dealings in their shares are frequent in such colonies, but delay, inconvenience, and expense are occasioned by reason of the absence of any legal provision for keeping local registers of members, and it is expedient that such provisions as this act contains be inde in that behalf.
This Act of 1883 was repealed in 1908, but its provisi ons
were substantially re-enacted and are now to be found in
sections 34 to 36 of The Companies (Consolidation) Act, 1908.
Section 34(1) of the latter Act reads -
4.
*34(1) - A company having a share capital, whose
objects comprise the transaction of business in a colony, my, if so authorised by its articles, cause to be kept in my colony in which itstransacts business a branch register of members resident in that colony (in this Act called a colonial register.)
Prior to 1st January, 1912, the Compará es Ordinances
of Hongkong did not contain any provisions corresponding to
those introduced In England by the Act of 1853 above referred
to. But in Sections 35 to 37 of Hongkong Ordinance No. 58
of 1911 we find Sections 34 - 36 of The Companies (Consolida-
tion) Act 1908, substantially adapted t› meet local conditions.
The proviso contained in Section 35(1) of the ordinance reaus:
"Provided that a comp∙ny applying for such liceme
must satisfy the Registrar of Coupanies by a statutory declaration to be filed with him or other- wise that a principal part of the business of the Company is carried on at or near the place where it desires to keep such a„ragister."
5.
It will be seen that the preamble to the act of 1883
makes reference to frequent dealings in the colonies in the
shares/