3
July. It will be noted that in paragraph 8 of
the Commissioner's Report the Commissioners
state that as far as they are aware,
considerations as to the country of origin of
capital invested or as to the nationality of
the holders of shares have not hitherto arisen
in connection with the financing or control
of electricity supply undertakings carried on
under statutory powers in Great Britain.
In certain colonies the privileges,
rights and interests of alien shareholders,
directors and officers are guaranteed by
statute vide sec.21 of the Demerara Electric
Company's Ordinance and sec.20 of the West
India Electric Company's law of Jamaica.
In other colonies public utility
companies are frequently incorporated by local
ordinance and in such cases a clause is usually
inserted giving power to the Governor in
council to acquire the public utility concerned
within a stipulated period of years vide sec.36
of the Nassau Gas and Ice Company Ltd. Act,
1916, where power is given to the government to
acquire the Company's gasworks within 5 years
of their installation. In the case of the
Bermuda Telephone Company it is laid down in
sec.6 of Bermuda Act No.20 of 1928 that the
Company cannot sell or convey any land it
may acquire to any Company or corporate body
incorporated outside Bermuda without the
previous sanction of the legislature.
In