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9
I as deinci of perilori benese o doing no anoidia)
dning
think that they would defeat my plan, I shall deal with them at some
length. The first is, that no winding-up order should be made-against
328 a Hongkong Company carrying on business in China by His Majesty's
Courts there. I do not know why the principles of the Order in Council D which confers all His Majesty's jurisdiction exercisable in China on
his Courts there should be abrogated for the sake of the Colony. It
seems to me essential, as Mr. Bourne pointed out in his judgment, that we should have power to make winding-up orders against a Company's pro- -perty situated in China, indeed the necessity for the power to exercise direct supervision by the Court has been made painfully evident in some of the incidents which have arisen out of recent financial stress in Shanghai. This is in accordance with the principles of English law which by Order in Council bind us in China and from which I cannot too strongly deprecate a departure. Indeed I think that where the whole of a Company's business is carried on in China it would be natural that the British Courts in China should alone have power to rake a winding-up order, the Hongkong Court being unable to carry out any part of its order without our help. As a matter of business convenience to the Company, its shareholders, debtors and creditors, the Supreme Court for China is surely the proper forum. The Colonial legislature can limit the power of its own Court but it is obviously incompetent to interfere with that of His Majesty's Courts
in China.
The second proposition is that all director
of Hongkong Companies carrying on business in China should be Britis subject. The terms on which special rights in China are to be given to~- Hongkong Companies must depend upon the Imperial Government and not on aure (that of the Colony; that Government protects them in China and is sure ly entitled to settle the special terms, if any, on which they carry on business there. Some provision as to the nationality of directors may be necessary, it is a matter on which the Foreign Office and His Majesty's Minister at Peking must be consulted, and it is particularly the question for which I asked in my despatch opportunity for con-
-sideration.
4
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