63
(Act No. 7 of 1917, S.4) and in the Bahamas (Act No. 4
of 1909, 8.8 Chapter 157 of the Revised Statutes 1929).
The expense of annual publication in the Gazette might be
a consideration to a small bank with a capital of £25,000,
but, if so, perhaps discretion could be given to waive a
charge in such cases. There is a great difference, from
the point of view of the education of the public, between
publication and the existence of a record in the
Registrar's files, even though the latter may be open to
inspection, perhaps at the cost of a fee.
Yours sincerely,
(Signed) P. Ezechiel.
P.8.
On the question of the compulsory closing down
of an unsatisfactory bank (paragraph 4 above) I attach
a note on American legislation, and would draw special
attention to the width of the provision in the New York
State Banking Law,
(Intd.) P.H.E.