CO129-417 - Public Offices - 1914 — Page 69

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difficulty the proposed Order was drafted to restrict

China companies to companies limited by shares and

provision is made that all shares should be fully paid

up; so that, in the event of winding up proceedings,

there would be no contributories. Any inclusion of

companies limited by guarantee would immediately in-

volve the possibility of there being foreign contri-

butories in the event of a winding up over whom no

effective jurisdiction could be exercised.

Consequently if China companies are to be kept

free from such difficulties, companies limited by

guarantee must be kept beyond the scope of the defini-

tion and Sir E. Grey is therefore advised that the

suggested amendment is inacceptable.

With regard to the further amendments proposed by

the Crown Advocate none of them would appear to be of

sufficient importance to justify the delay which their

introduction would entail. It is moreover not suggest-

ed by His Majesty's Representatives in China that they

would make any substantial alteration in the sense of

the draft Order but merely that they would make it more

impossible