-3-63
154
operable by himself?
Mr. Forrest: Exactly.
Chairman: The nere opening of a separate account is no safeguard
A
巍
A
Á
whatsoever.
It is a safeguard in this sense. I have known Captain Kobza
for a number of years and I know him as a man of honour who
vould certainly not be guilty of anything in the way of mis-
appropriation. ..t the same time I had a certain amount of
doubt of his capacities as a business man and it was for that
reason that I sug ested that an account should be opened for
this special purpose, so that monies could be readily accounted
for, and that no scandal should arise in connexion with the
general agency.
I am afraid you have misunderstood me. I am not suggesting any
uestion of misappropriation, But we have here an agrement
which openly contemplates the possession by the agent of monies
which are at a later stage to be paid over to your Department;
and those are to be kept in an account on which the agent can
freely drarT
Yes.
It is not in any sense like a trust acco nt which can only be
drawn on by two persons. Does not 211 that seem to you, as
a measure of elementary prudence, to call for a financial
guarenteef
It does not seem to me so, sir.
Because you have this belief in Mr. Kobzu's integrity?
I am not sure where the original draft of that agreement is
or whether it still exists, but if I remember rightly, I had
inserted at that point a clause to the effect that, for the
purpose of this agreement, an account should be opened in the
H.K. & Shanghai Bank "which may be drawn on only for the purpose
of paying inmigration fees into the Immigration Office, or
words to that effect; that when I found the thing redrawn with
the addition of clause 1. providing for an auditor and for on
accountant to be appointed on the recommendation of the auditor,