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hot bank
they in
S. 356 requires the examiner of banks to treat as
confidential the information which he obtains officially,
but there is no such provision for the members of the
Advisory Committee.
S. 360 (2) Here also I think there should be
provided some safeguard against the arbitrary exercise by
the Governor in Council of the power to close a business.
S. 361 (2) does not seem to make it clear that if the rules
of a savings bank company are amended after the initial
approval by the Governor, the amendments will require similar
approval.
The Bill as a whole deals only with companies and does not
tackle the evil (to which Young referred) of small shopkeepers
blossoming out into savings bank business; but perhaps the
local Committee decided that it would be best to leave that
problem alone.
In Palestine the method adopted to meet the dangers of
the banking situation was, after a report by a specially
appointed local Banking Committee, to appoint a specialist
examiner of banks (independent of the existing banks in the
country) to make a full-time study of the situation and
recommend the legislation to be enacted in several stages.
I am not sure that that was not the better plan.
Yours sincerely,
Phechees