CO129-426 - Public Offices - 1915 — Page 413

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478

14. (1) No China Company limited by guarantee shall be allowed to operate in China without the consent of the Minister. (2) As a condition of this consent the Minister may require that no person other than a British subject shall be a member of the Company, or that any

member of the company who is not a British subject shall deposit in Court or give security for or conform to such arrange- ment as the Minister shall think fit

for ensuring the payment of the amount for which he would be liable under the

quarantee.

(3). If any China Company limited by guarantee opera'es in China without the consent of the Minister or if any terms imposed by him as a condition of his consent are not complied with the Company and every director or ranager secretary and other officer who is knowingly a party thereto shall be guilty of an offence and shall be liable to a fine not exceeding 500 dollars for every day during which such offence continues.

(4) Where on application rade it

is established to the satisfaction of the

Court that there has been a failure to

comply with the provisions of this article through inadvertence or accidental miscal- culation or from some other reasonable

cause, and not from any want of good

faith.