CO129-114 - MacDonnell - 1866 [7-8] — Page 338

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed
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334

"enacted by the Governor of Hong Kong with the advice of the Legislative Council thereof, for the Incorporation of the Hong Kong and Shanghai Banking Company"

The above Company has already been established more than a year, and has met with very great success this year, but till now it has never been legally Incorporated.

3. The provisions of the enclosed Ordinance are, I believe, strictly within the limits prescribed by the Colonial Regulations (Cap. 1x - Sec. 3) and the Treasury Instructions.

4. On a former occasion, 12th May, I declined to proceed with the Ordinance as I considered some of its provisions to be in excess of the powers of this Legislature, and an infringement of the Treasury Instructions.

5. The Ordinance was accordingly remodelled; but owing to the peculiar state of the Bankruptcy and Insolvency Laws here, I was reluctant to proceed with the measure unless it contained adequate and specific provisions for winding up the affairs of the Company in the event of Insolvency. This has now been done by section 28. I also felt it right on behalf of the Public to secure, especially for the holders of the Company's notes payable to bearer, some additional...

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334 "enacted by the Governor of Hong Kong with the advice of the Legislative Council thereof, for the Incorporation of the Hong Kong and Shanghai Banking Company" The above Company has already been established more than a year, and has met with very great success this year, but till now it has never been legally Incorporated. 3. The provisions of the enclosed Ordinance are, I believe, strictly within the limits prescribed by the Colonial Regulations (Cap. 1x - Sec. 3) and the Treasury Instructions. 4. On a former occasion, 12th May, I declined to proceed with the Ordinance as I considered some of its provisions to be in excess of the powers of this Legislature, and an infringement of the Treasury Instructions. 5. The Ordinance was accordingly remodelled; but owing to the peculiar state of the Bankruptcy and Insolvency Laws here, I was reluctant to proceed with the measure unless it contained adequate and specific provisions for winding up the affairs of the Company in the event of Insolvency. This has now been done by section 28. I also felt it right on behalf of the Public to secure, especially for the holders of the Company's notes payable to bearer, some additional...
Baseline (Original)
C 334 " "enacted by the Governor of Heonghing with the advice of the Legislative Council "there of, for the Incorporation of the ~ Heong Kong "Company" 2 and Shanghai Banking The above Comjoany has already been established more than a year, and has met with year, but very great success- till now it has never been legally- Incorporated. 3. The provisions of the enclosed. Ordinance are I believe strictly within the limits prescribed by the Colonial Regulations ( Cap. 1x - Sec. 3) and the Treasury Instructions 4. On a former occasion, 12" May;- I declined to до on- with the Ordinance as J considered some of its provisions to be in excess of the powers of this Sigislature. and an infringement of the Treasury Instructions 5. The Ordinance accordingly. Waa remodelled:- but oring to the preuliar Insolvency State of the Bankruptcy and Laws here, I was reluctant to proceed with the measure unless containing adegreate and specific provisions for winding up the affairs of the Company in the event of Involvency. This has now been done by section 28. I also felt it right on behalf 6. of the Public to secure especially the poner closes for the holders of the Company's notes payable to bearer some additional
2026-05-19 10:48:44 · Baseline
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C

334

"

"enacted by the Governor of Heonghing with the advice of the Legislative Council

"there of, for the Incorporation of the ~

Heong Kong "Company"

2

and

Shanghai Banking

The above Comjoany has already

been established more than a year, and

has met with

year,

but

very great success-

till now it has never been legally-

Incorporated.

3.

The

provisions of the enclosed. Ordinance are I believe strictly within the limits prescribed by the Colonial Regulations ( Cap. 1x - Sec. 3) and the Treasury Instructions

4.

On a former occasion, 12" May;-

I declined to

до

on-

with the Ordinance

as

J

considered some of its provisions to be in

excess of the powers of this Sigislature.

and an

infringement of the Treasury

Instructions

5.

The Ordinance accordingly.

Waa

remodelled:- but oring to the preuliar

Insolvency

State of the Bankruptcy and Laws here, I

was reluctant to proceed

with the measure unless containing adegreate and specific provisions for winding up the affairs of the Company in the event of Involvency. This has now been done

by section 28. I also felt it right on behalf

6.

of

the Public

to secure

especially the poner closes for the holders of the Company's

notes payable to bearer some additional

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