22
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A reference I included to this
summary included
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reference lotter
hell Rules.
experience and only an officer of the Hong Kong
Government by reason of his appointment.
Mr. Young's
view is that expert knowledge might well be supplied
by the Advisory Committee, and it is not so essential
that the Examiner should possess it. I think this
can be discussed when the officer is recruited, and
that there is no need to comment to Hong Kong at the
moment.
Section 358. The B. of E. suggest a minor
drafting amendment by substituting the word "small"
for "minor", and "other deposits are also accepted"
for "deposits of larger amounts to be also accepted".
I think we might suggest this.
Section 360(2). The same considerations apply
to this section as to Section 353(3), and I suggest
that we should ask for similar safeguards.
Section 361(1). The G.P.0. state that they used
to publish pages of information in their bank books,
including a copy of all rules, but it was found that
this information was seldom referred to by depositors
and became out-of-date, so the practice was abandoned,
and a brief summary of conditions occupying one page
only is now printed in the book. They say that except
that there is some protection in that a depositor has
a copy of the rules and cannot in consequence plead
ignorance, is there much likelihood that he will read
them? I am rather inclined to think that the reason
for this provision in Hong Kong is rather different
from the view taken by the G.P.0., and that it is
desirable not so much for the information of
depositors as to ensure that the degree of publicity
given to the rules will prevent more objectionable
provisions that might otherwise occur in the case of
some of the minor Chinese banks. I think we might
leave