296
Lords intended to refer to Wanke incorporated by Royal Charter expressly for the purposes of Carrying on business in the Colonies, in Contradistinction to Wanks incorporated under the authority of Acts of Parliament. Kafsed for the regulation of Banking Companies in this Country.
The Agra and Master Service Bank Comes within the latter Category. It was incorporated by Royal Charter in virtue of the Act 7 & 8 Vict: C 118 for the regulation of Joint Stock Companies in England, in Consequence of a petition presented to Her Majesty in Council stating that the Petitioners and others had formed a Company for the purpose of Carrying on the business of Banking in England under the provisions of the said Act. It did not appear from that petition that such extended Business, as the Bank now Claims to exercise in the Colonies under its Charter was Contemplated. If that intention had been clearly announced, the application for the Charter would have been submitted for the opinion of this Board and the Secretary of State for the Colonies, and it is Certain that, if that Course had been followed, objections would have been raised to the grant of such powers, on ground of their interference with the regulation of banking business in the Colonies, under arrangements subsisting between Her Majesty's Government and local Governments.
It appears however from Report made to this Department that the attention of the Board of Trade was drawn to a clause in the Deed of Settlement stating that the business of the Company should be Carried on at the Head banking house at No 9 Old Jewry Chambers in the City of London, and such other places in England or elsewhere as the Court of Directors might from time to time appoint.
It is stated that "in settling the terms of the Charter to be granted to the Company
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296
Lords intended to refer to Wanke incorporated by Royal Charter expressly for the purposes of Carrying on beesiness in the Colonies, in Contradistinction to Wanks incorporated under the authority of Acts of Parliament. kafsed for the regulation of Banking
Companies in this Cocentry.
at.
The Agra and Anched Service Wank Comes within the latter Category It was incorporated by Royal Charter in virtue of the Act 7 X 8 Nio : C 118 for the regulation of Soint Stöck Companies in England", in Consequenes! of a petition presented to Her Majesty in Council stating that the Petitioners and others had formed d. Company for the purpose of Carrying
the business of Canking in England under the provisions of the said Act. It did not appear from that petition that such extended Eusiness, as the Bank now Claimes to exercise in the Colonies under its Charter was
Contemplated. If that intention had been clearly announced, the application
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on
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for the Charter would have been submitted for the opinion of this Board and the Secretary of State for the Colonies, and it is Certain that, if that Course had been followed, objections would have been raised to the grant of such powers, ground of their interference with the regulation of banking business in the Colonies, under arrangements
the -subsisting between Her Majesty Government and local Governments. It appears however from leport made to this Department that the attention of the Woard of Trade was drawn to a clause in the Deed of Settlement stating that the business " of the Company should be Carried on " at the Head banking house at No 9 Old "Jewry Chambers in the City of London, and " such other places in England or elsewhere " as the Court of Director's might from
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" time to time appoint.
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It is stated that " in settling " terms of the Charter to be granted to the Company
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