C. O.
49
Mr.
Mr.
Mr.
Sir H. Moore.
Sir G. Tomlinson.
Sir C. Bottomley.
Sir J. Shuckburgh.
Permt. U.S. of S.
Parly. U.S. of S.
Secretary of State.
DRAFT.
business after the commencement of the
Ordinance.
Section 353(2) and (3). These
sub-sections purport to control the
activities of banks which set up new
branches elsewhere than in the Colony.
The Hong Kong Legislature has no power
to enact laws having application outside
Hong Kong, and the provisions of these
two sub-sections which relate to
branches established elsewhere than in
the Colony must be deleted.
Section 353(3). The absolute
power given to the Governor in Council
to cancel a licence without cause stated
is undesirable.
The grounds on which a
licence can be cancelled should be
FURTHER ACTION.
-
stated in the Ordinance and it is for
consideration whether the Governor in
Council or the Courts is the proper
authority. It is suggested that the
Court is if the grounds involve
considerations
(*2132—150) Wt. 43270-82–15,000 4/38 T.S. 695