CO129-369 - Acting Governor May Governor Sir Lugard - 1910 [10-11] — Page 527

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Ow

I think that I have now touched on all the

points which arise in connexion with this very complicated

subject. I shall refer only to one more matter in order to show

its importance. A great number of Rubber Companies were promoted in Shanghai last year, and registered in Hongkong. The Act creates certain duties on yxEwitzzz promoters, in respect of

the breach of which actions may be brought against them. The event arising, this is the position of affairg: so far as the Hongkong Court are concerned the defendants would be in Shan- -għal: so far as the Shanghai Court is concerned, there is no

company law on which the action could be based. And as it is with civil remedies, so it is with criminal remedies under the

Act.

525

If then in view of theso considerations,

it is decided to afford special facilities to "Shanghai con- -panies", the law should be based on the following principles

(1). The difficulty raised in my judgment should first be met; the registration of Shanghai Companies should be explicitly recognised, and the Hongkong Court should have Jurisdiction conferred on it to make orders or give judgments

*

under the Ordinance against promoters, shareholders, debtors and officers of such companies although they are in Shanghai, and in favour of credators; and to make all necessary orders in

the winding-w.

It must be specially noted in this connex-

-ion that I made the winding-up order in the case because the company was on the register, and there is no other way of closing down a company which has got by mistake or otherwise on the Register. But this does not carry with it the power to make

●rders consequential on the winding-up; this must be governed by the general principles of jurisdiction.

(11).

Then as to the Shanghai Court; I assume that the Companies Act will not be extended to China; therefore the jurisdiction of the Shanghai Court must be auxiliary and not direct: that is to say, it must be invested with power te en-

-force