CO129-405 - Public Offices - 1913 — Page 440

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(13619/13).

439

C.

12.

Sir E.Grey is strongly of opinion that the

registered office of a China company should be in China.

13. The proposal that the shares issued by China

companies must bear on their face a statement that they

separate clase:

are issued subject to the terms of the Order in Council

does not appear practicable. From the point of view

of Hongkong legislation China companies will not form a

but a company registered at Hongkong

must issue its shares in accordance with Hongkong law:

to carry out this proposal therefore Hongkong would have

to pass legislation that would affect or might affect

all companies registered there which intended to carry

on business in China. Hongkong might also very reason-

ably object to providing in her laws that companies re-

gistered in Hongkong were to state on the face of the

shares they issued that the shares were issued in accord-

ance with some other law.

An amendment to Article 13 has been inserted to

provide for the return of certificates of forfelted

shares and for enabling the company to deal with shares

so forfeited. Sir E.Grey cannot concur in the sugges-

tion

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