52
amendment of Section 3:
N. Para Section 358
| Savings
banks should if possible be defined
more exactly than by the use of the
words "receives on deposit minor sums"
etc., e.g. the amount of the sum might
be specified. It could then be left
to a Court of Law to say whether a banking
company is or is not a savings bank
company within the terms of the Ordinance.
If the proviso remains, the words "not-
withstanding anything contained in this
section" should be deleted, since the
Governor in Council should be guided by
the previous provisions in arriving at
a decision whether the company is
conducting a savings bank business.
It should also be made clear that if
a business is declared to be a savings
bank business the company should be
given ample time after the date of the
huveriscons
declaration to comply with the terms
of the Ordinance, e.g. Section 359.
At any
Section 361(1). /pages
of
information
gabine