CO129-417 - Public Offices - 1914 — Page 79

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76

Order in Council when dealing with such companies are

not modified in the case of other British Companies.

I am not sufficiently experienced in parliamentary

drafting to criticize this Article further.

Question 3. What control have His Majesty's

Officers in China over Life and Fire Insurance

Companies?

The Companies Ordinance Section 268 corresponds

with Section 293 of the Companies Consolidation Act,

save that it includes fire insurance as well as life.

Fire insurance in China requires better control than

in England, but on the whole I do not know that the

application of the Fire Insurance Ordinances is desir-

able as the appointment of inspectors is difficult,

however that is a matter for the executive. The case

is very different with Life insurance, restrictive

legislation which is necessary in Hongkong is a fortiori

necessary in China. The Companies Ordinance Section

268 saves the Life Insurance Companies Ordinances 1907

and 1909, and these therefore undoubtedly apply to all

such companies as are registered in Hongkong and carry

on business in China. (Section 2, definition of Life

Insurance Company). They are liable to make all their

deposits