COPY.
„Egrind mind1so ghiob „noleu
..de evad e
...noja13k bro anorf (.54)
.
●rosteret kinoleb et
sir,
The Honourable
The Colonial Secretary.
110
Hongkong, 11th. August, 1911.
30872
Rccp Reos 22 SEP ||
We have the honour to refer to our conversation of the 10th. instant, when we informed you that we were acting for a number of American Chinese Gentlemen, who proposed to inaugurate in Hongkong a Bank upon European lines to do business between Hongkong and Canton and the United States of America, we understand that the Bank when incorporated will have a nominal capital of one million dollars Hongkong Currency.
By Ordinance No. 1 of 1866 no Company formed for the purpose of carrying on business of banking can register in
pursuance of that Ordinance.
By the Companies Ordinance 1910, which has not yet. become law, Section 2, a Company formed for the purpose of bank- -ing can be registered in pursuance of that Ordinance.
It would appear that the institution of such a Bank would be conducive to the interest and prosperity of this Colony. The Attorney-General has informed us that the Companies Ordinance 1910 has been sent home to the Secretary of State for the Colonies for approval but that he does not know when it will be returned or when it will become law.
Our clients are desirous of incorporating the new Bank and commencing business at an early date. The Attorney- -General pointed out to us that by Rule 22 (5) of the Royal Instructions a short amending bill as below proposed could not be rushed through the Legislative Council as it would have to
have
No comments yet.
Private notes are available after approval.