section is repealed as it is considered undesirable to declare preferential charges on deposits, and as no corresponding provision is contained in the Imperial Acts.
Section 9 sub-section (3) is regarded as unworkable or inoperative in practice and the amendment is considered preferable and practicable. As the law stood under the sub-section now repealed an Insurance Company ceasing to do business might withdraw the securities which it had deposited provided it left on deposit securities estimated to be equal in value to the amount of money for which the company was at the time of withdrawal liable on outstanding policies. The amendment provides that none of the securities shall be withdrawn so long as a company has any outstanding liabilities in the colony.
Section 24 provides a special test of solvency, and various reasons are urged against it, inter alia that the "Actuaries" table is obsolete. The section is so amended as to leave it to the court to determine on expert evidence the solvency or insolvency of a company.
Section 29 sub-section (3) is amended to give a creditor like right of appeal from the Registrar's action in striking off the name of a company from the Register as is possessed by a member of a company.
Henry Berkelin
Attorney General.
Governor.
No.
151
1909
4 June
Last Previous Paper.
Next subsequent Paper
26403.
C. O. 22597
F. 7 JUL 09
Submits proposals for dealing with Interest in Railway Sean birking Furred.
RECO DES&RCH.
DESPATCH.
verify the statement Lagos Railway made fara.
W. Harding
This despatch?
I feel
581 15/7
Park advances to to And ewd
Hand Ker ? Le of have nort June expression is corous her up the actual account but the full charge for unteren has always been shewn in the general estimates of the Colony (construction procedung).
a still & I have not been able to ou the find any adjusting entry and certainly reveone Care side.
2. .mif. He which is bven more the money in pound, interest on
section is repealed as it is considered undesirable to declare
preferential charges on deposits, and as no corresponding pro-
-vision is contained in the Imperial Acts.
Section 9 sub-section (3) is regarded as unworkable or
inoperative in practice and the amendment is considered prefer. Ligand
-able and practicable. As the law stood under the sub-section
now repealed an Insurance Company ceasing to do business might
withdraw the securities which it had deposited provided it left
on deposit securities estimated' to be equal in value to the
amount of money for which the company was at the time of withdra
liable on outstanding policies. The amendment provides that none
of the securities shall he withdrawn so
вороде as a company has any
outstanding liabilities in the colony.
Section 24 provides a special test of solvency, and various
reasons are urged against it, inter alia that the "Actuaries"
table is obsolete. The section is so amended as to leave it to
the gourt to determine on expert evidence the solvency or in-
- solvency of a company.
Section 29 sub-section (3) is amended to give a creditor
like right of appeal from the Registrar's action in striking off
the name of a com any from the Register as is possessed by a
member of a com, any.
Henry Berkelin
Attorney General.
Governor.
No.
151
1909
4 June
Last Previous Paper.
вто
To Gartel 10 auf 201003
Ausd
18
ES!
1758-A, & E, W.-20962/27- 25004)-11-08.
Next subsequent Paper
Sm
26403.
Con
HONG KONG
22597
Interest in Railway
Sean birking Furred.
RECO
DES&RCH.
DESPATCH.
C. O. 22597
F. 7 JUL 09
Submits proposals for dealing with
you
Mr. Andersen.
verify the statement
Lagos Railway made fara.
W. Harding
at t
This despatch?
I feel
581 15/7
Park
advances
to to
And
ewd
ช
Hand Ker ? Le
of have nort
June
expression is corous
her
up the actual accound but the fill charge for unteren has always been shevon in the general estimates of the Colony (construction procedung).
a still
& I have not been able to
ou the
find any adjusting entry and certainly
reveone
Care
side.
2.
.mif.
He
which is bven more
the money
in pound, interest on
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