23
(e) Banking partnerships formed in fi.k.
(Since 1911, maximum number of
partners, 20; before that, no limit).
(f) Banking partnerchips formed and
t
esķablichod outside H.K. and opening
branches here (apparently no limit
to number of partners).
a
4. It will be seen that the desirability of
control, and the possibility of control, very considerably
between the various classes of banks, and even between banks
of the same class. For example, we do not require any further
control in the case of a bank established by a special
local Ordinance. In class (b) we have a free hand for
any future banking companies, and & reasonably free hand
for banking companies already cstablished under our
Companies Ordinance. In class (c) no further control is
necessary in the case of a bank established by Royal Charter,
but in the case of banks established under Companies Acts
or Ordinances in other parts of the Empire there are just
the same dangers and difficulties as in the case of banks
established under our Companies Ordinance. We could deal
with such companies only by placing restrictions on their
commencing business in the Colony. Similar remarks apply
to class (d). Class (e) includes the large and im tant
class of Chinese banks, where supervision would be very
It would probably be useless unless the
same supervision were applied in the case of class (f), where
the supervision would be still more difficult. Mr. Shenton
proposes that the control end supervision which he suggests
should apply to all banking undertakings carrying on
difficult.
banking business in the Colony.
5.
I am not in favour of attempting the control