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not intended to confer the Power of establishing Branch Banks and Agencies in any place out of the Colony. have been ultra vires; but it was at the request of the Company, in order that it should be made quite clear that their Hong Kong Charter which only empowers them to carry Business in the Colony should not be vitiated by the establishment of Branches or Agencies elsewhere.
This Legislature therefore purposely abstained from enacting any Provisions with reference to any such Branches or Agencies.
the establishment of Branches must be subject to such conditions as may be imposed by the Lords of the Treasury, and the establishment of Agencies as well as of Branches must be subject to the control of local Laws and to the Powers of local Governments.
It was of course impossible to foresee the arrangement between the Lords of the Treasury and the Secretary of State for India in Council referred to in Messrs. W. Hunt's letter, but I apprehend that it is competent to the Government of India to prohibit the establishing both of Branches and Agencies.
280
not intended to confer the Power of establishing Branch Banks and. Agencies in any place out of the Colony. have boon siltra vires"; but it was
request of the
as such a Provision would
inserted at the
"
loompany. in order that it should be made quite clear that their HongKong Charter which only empowers them to carry Business in the Colony" should not be vitiated by the establisment of Branches or Agencies elsewhere.
This Legislature therefore purposely abstained from enacting any. Provisions with reference to any.
such Branches or e
Agencies
a.3
the establishment of Branches
must be
subject to such conditions may be imposed by the Lord's of the Treasury
and the establishment
of Agencies as well as of Branches must be subject to the controul of local Laws and to the Towers of local Governments.
It was of course impossible to fonsee the arrangement between the Lords of the Treasury
and the Secretary of State for India in Council referred to in Moz &1⁄2. W. Hunt's letter, but dapprehend that it is competent to the Government. of Budia to prohibit the establishing both of Branches and Agencies
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