21
Section 5(1) of No. 27 of 1937.
The everive & mich nower need wit necessarily clone the
aistitution: I coved close it as a Bank ful coved
tee Booking
Leave it as c.g. a
business.
Jr.
This depends on the Wolution adopted but in any case the expert adorser or the examine the Arrsory
Committer showed be obliged
$iscal as
Section 353(3). Both Sir P. Ezechiel and
the B. of E. consider that the absolute power
to cancel a licence, which is given to the
Governor in Council by this section, is
undesirable, and I entirely agree with this.
I suggest that we should ask for the inclusion
of the provision, mentioned by Sir P. Ezechiel,
which appears in the present Palestine
Ordinance, which provides that the High Commis-
sioner must consult the Advisory Committee and
Examiner of Banks before exercising such
power, and that he must also give the company
notice in writing of his intention, and afford
it an opportunity of being heard in opposition.
Section 355. The B. of E. suggest that
the section ought to read "The Governor shall
appoint a Committee", so as to provide for the
compulsory appointment of a Committee. I think
we might suggest amendment accordingly.
Sir P. Ezechiel points out that
Section 356 requires the Examiner of Banks to
treat as confidential the information which he
obtained officially, but that there is no such
provision for the members of the Advisory
Committee. As sub-section 2 allows rather a
free scope for statements by members of the
confidential bio Committee, who will presumably be taken from information obtamed officiofficials or directors of one or two of the
leading banks in the Colony, it will, I think,
be desirable to have provision for requiring
information supplied to them to be treated as
confidential.
Section 356(1). The B. of E. suggest
that the Examiner should be a banker of
experience