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دارات

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§ IV. Applications for Charters.

334. Applications for Charters of Incorpora- tion of Joint Stock Companies engaged exclusively or chiefly in Colonial undertakings, whether made in this Country or in the Colonies, cannot be granted until the heads of the project shall have been submitted for the consideration of the Governor and his Executive Council.

335. The Governor will furnish the Secretary of State with a Report stating whether the undertaking is one which in his opinion it would be desirable to encourage, with a view to Colonial interests, especially as regards the Colony under his Government.

336. The Governor's Report will be taken into consideration by the Secretary of State and by the Board of Trade, or, in cases in which the application relates exclusively to Banking Com- panies, by the Board of Treasury.

337. His Majesty's Government reserves to itself the power of deciding whether privileges, to be exercised under Charters granted for this Country, should be extended to Companies, approved by the Colonial Government, for Colonial undertakings.

338. The Imperial Act 18 & 19 Vict. c. 133 provides for the limitation of liability of Members of certain Joint Stock Companies.

See also Circular of 16th March, 1874, as to establishment of Agencies, and Circular of 18th August, 1875, by which it directed that Laws relating to Banking undertakings and the Circulation of Notes should contain a suspending clause.

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