25
Only half is requland.
We?).
suggest that savings banks should at least be
prohibited from certain operations such as lun sxccared
speculati on in foreign exchange or insecure
loans to private persons. I doubt if this
point is sufficiently covered by sub-section 2,
and we might suggest such provision to the
Colonial Government.
Section 371. The G.P.O. presume that
this clause would only operate in the event
of a company getting into difficulties and that
normally the ordinary withdrawal facilities
through the company would suffice. I presume
that this is the case, but we might comment
accordingly to Hong Kong.
The B. of E. also state that the
activities of savings bank companies do not
(except by implication) come within the
purview of the Examiner of Banks, and suggest
that they should be subject to Government
supervision. I am not sure whether savings
I kamil leis in len banke would come under the heading of banking inther he cave had
better wahr
Cur front (C.).
companies which are subject to examination by
this officer under Section 356, but it might
advisable
perhaps be że to suggest that this
should be done.
? Approve the draft Bill and comment
as suggested above. Copy despatch to Crown
Agents, Board of Trade, General Post Office
and Treasury, L. FF.
17 Bu
P. Roger
7.X4.37.
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Lopes of finitung him to shedly the racions commate,
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bury:
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