352
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all Notes issued by the Company shall be dated, issued and made payable at Hong Kong as the principal Establishment.
So far as they are informed and as the operations of the Bank appear at present to be confined to the Colony of Hong Kong, but on the establishment of Branch Banks in China, Japan, or elsewhere, under the provision of Clause 12 it will be necessary to require that all Notes issued from such Branches shall be payable at the principal Establishment as well as at the place whence they are issued. I am to assume that this requirement of Clause 6 have been complied with, and as the subscription of the Capital of $5,000,000 of Dollars, and the payment of half; and that the necessary notification has been published in the Hong Kong Government Gazette.
I am to add that as they and have recently agreed to a proposed rule by the Secretary of State for India in Council that in future Stock Companies will not be empowered under Charter granted at the recommendation of this Board, to establish Agencies or Branches in Territories under the Government of India, it will be necessary that Clause 4 in the Ordinance should be amended so as to read that the words "in those territories" would suggest
Y
352
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all Notes ifsured by the Company chick be dated, issued and made payable at Hong Kong as the principal
Establishment.
So far as elle and are informed ellyand as
the operations of the Bank appear at present to be confined to the Colony of Hony Kony, but on this establishment of Branch Banks in China, Japan, or elsewhere, unde the Invvision of Clause 12 it will be necesary to require that all
famed from sich Branches shele be
at the principal Establishusenta
place whence
notes
payable
well as at the
they are furad Mlydords presume that this
requirements of Clause 6 have ben complied
fu consent of this
oard
with, and as the subscnption ofther Capulat
of
ore
5.000.000
of Dollars, and the payment of
half; and that the orecepery notification
has been published in the tory. Kong Gramment Gazette.
be
I am to and that as illy and have
•ligand recently agreed to a proposed make by the Secretary of State ofn India ini Courial that in future point
Stock Companies wite nut be cempowered under Craster granted at the recommendation gethics Board, to establish Agencies or Branches in Territories under the fovernment of India, it will be necesary that Clause 4 in the ordinance showed
and regimente be amended me as to reuilly, and elypad
that the words "mi
the establist
agenuin
those tenitrice,
would
suggest
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