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4. Seventy thousand dollars, including a suit-
able clock.
5. The Government has no information that the Chinese Government has as yet taken any steps to make the promised installation, It has again urged upon the Chinese Government through His Majesty's Minister at Peking the desirability f carrying out the work.
Notice of Further Questions
THE HON. Mr. OSBORNE—Sir, I rise to give notice that at the next meeting of the Council I will ask the following ques- tions?
wise.
reading of this Bill I explained its object, which was to establish uniformity in com- mercial centres of the British Empire in the law relating to companies. It consolidates the existing Ordinances and follows, with local conditions, the Imperial Companies such amendments as are necessary to meet
Consolidation Act, 1908. The object of that Act was, as I then pointed out, speak- ing briefly, to promote commercial integrity and protect the investing public from the avarice of company promoters. The Bill, Sir, was introduced some time ago, and I do not hesitate to affirm from information I ceived, that the measure has been well have received from all quarters, freely re-
received not only amongst the commercial community of the Colony, but in the com-
1. Will the Government tale steps to prevent the destruction of birds by shami sportsmen, who by means of the Railway are enabled to invade the New Territory and threaten extinc- tion to every form of bird life, game and other-mercial community of Shanghai. In fact, I am not exaggerating when I make bold to declare that the Bill has been received with a chorus of universal acclamation. Com- paratively few amendments have been sug- gested to me, and those amendments will
2. Will the Government cause to be laid on this table half-yearly a statement of the work actually accomplished on the new typhoon refuge; and in such form that the public may be able to judge whether the rate of progress is such as to ensure completion by contract date.
Widows' and Orphans' Pension
Amendments Ordinance
THE ATTORNEY-GENERAL moved the first reading of a Bill entitled, "An Ordin- ance to amend the Widows' and Orphans' Pension Ordinance, 1908."
THE COLONIAL SECRETARY second- ed, and the Bill was read a first time.
The Memorandum attached to this mea- sure explained that this amending Ordinance is necessary to remove doubts as to the interpretation of the existing Ordinance with regard to the method of fixing the amount of contribution to be paid by officers drawing salaries fixed on a dollar basis. It will legalise the existing practice and give effect to the Resolution passed by the Legis- lative Council on August 7th, 1902.
Companies Ordinances Con-
solidation Ordinance
THE ATTORNEY-GENERAL moved the second reading of the Bill entitled, "An Ordinance to consolidate and amend the Ordinances relating to Companies." In doing so he said-On moving, Sir, the first
be dealt with when the Bill is referred to the Law Committee. The Bill will receive the very careful consideration of the Law Committee and if necessary of the committee of the whole house afterwards. Since the introduction of the Bill an important judg ment by the Chief Justice has raised the question of the status of the Shanghai com- panies under our Companies Ordinance. The effect of that judgment is that, in the opinion of the Chief Justice, in order to entitle a foreign company to register in this Colony it must in reality carry on its busi- ness in Hongkong, and the carrying on of its business here must be in reality and not merely in name. Now, Sir, the Govern- ment is fully impressed with the importance of this decision and recognises that it is in the interests both of companies trading in the treaty ports and of this Colony to preserve the existing system, and the Government will place no stumbling block in the way of Shanghai or other foreign companies register- ing in this Colony, and the Companies Local Register Ordinances of 1907 and 1909 have expressly facilitated the position of companies that are registered here but carry on business outside the Colony. I mention that fact, Sir, as showing the trend legisla- tion has recently taken in expressly recognis ing the position of companies carrying on business elsewhere. Having regard, there- fore, to the judgment of the Chief Justice,
HONGKONG LEGISLATIVE COUNCIL
to which I have alluded, the Government is losing no time in submitting proposals for the consideration of the Secretary of State with a view to maintaining the status quo ante. This will, if approved by the Secretary of State, necessitate certain amendments being made in the Bill, so as to assure the position of these companies being placed beyond the region of doubt. These amend- ments, I submit, need not delay the con- sideration of the Bill by the Standing Law Committee, to which I shall presently invite the Council to commit it. As regards the principles of the Bill, I referred to them more fully than usual on the first reading. We desire to place our company law in uniformity with that prevailing at Home. We desire to protect shareholders. We desire a more perfect system of audit. We desire that the general law prevailing as regards companies at Home shall be brought | up to date in this Colony. I beg to move the second reading, and if the Council will read the Bill a second time I will move that it be referred to the Standing Law Committee, when I shall have the benefit of conferring with my hon. and learned friend opposite and my hon. and learned friend on my left in dealing with the various amendments which may occur.
THE COLONIAL SECRETARY second- ed.
HON. MR. POLLOCK-There is one re- mark I wish to make, Sir. I have not as yet been appointed a member of the Law Committee.
HIS EXCELLENCY-I was about to refer to that matter. The hon. member was a member of the Law Committee, and his place was taken during his absence by the hon. Mr. Murray Stewart.
As that gentleman has now left the Council, the hon. and learned member resumes his place | as a member of the Law Committee by re- suming his seat at the Council.
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Great Britain, but it is a very great advance on what is existing now, and I think we ought to have reasonable time for discuss- ing this question. The Attorney-General appears to think, as I gathered from his remarks, that the amendments will be few. I have it in my mind that the amendments suggested by the mercantile community of Hongkong may be very considerable, and the Bill may lead to a great deal more discussion and amendment than your Ex- cellency and the officials of Hongkong seem to think. I trust, therefore, that the Bill will not be rushed. I only make these remarks because the Chamber of Commerce have not had a full opportunity of considering the Bill, but they will consider it at the earliest possible moment. We may, I don't say we will, have to put forward in the interests of the mercantile community a good many more amendments than your Excellency appears to anticipate, Therefore, I venture to suggest that we have every possible and reasonable time for re- considering it before it becomes law. I have no more to say at the moment, because the matter will be considered by the Chamber which I represent. It is a very important measure and will make radical changes in the working of companies here. Therefore, things must not be done in a hurry and we must have ample time to consider that Bill.
THE ATTORNEY-GENERAL-I quite understand that there are possibly numerous amendments which may crop up, but I do not think that will interfere with the Law Committee taking the Bill into consideration
at once.
HON. MR. HEWETT-Not at all.
THE ATTORNEY-GENERAL-I would ask the hon. member to refer to the Law Committee any amendments he has. The Bill is bound to engage the attention of the Law Committee, I expect, for some consider- able time, but that need not prevent the motion for its committal to that Com-
HON. MR. HEWETT-Your Excellency, I would point out that this Bill is of far-mittee. reaching order. The hon. Attorney-General says that this Bill is merely bringing Hong- kong up to dat. That is quite true. I think that no business man here would object to bringing the Hongkong Companies Ordinance up to date with what obtains in
THE COLONIAL SECRETARY second- ed, and the motion was agreed to.
The Bill was afterwards referred to the Law Committee.
No comments yet.
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