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COPY.
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Enclosure 3
Gentlemen,
136
Hongkong, 26th. April, 1916.
10.
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instructed
The Tebong Rubber and Tapioca Estate,
Limitad
In reply to your letter of the 23rd. March, to say that the Hongkong Government do not propose
to offer any objection to your offering the new shares in question to any shareholders in your company who are enemy subjects, if you are in a position to communicate with them
or their attorneys, and that in any case the Hongkong Government will offer no objection to your reserving the proper number of
new shares for any such shareholders.
I would point out that the prohibition of the Ordinance dealing with trading with the enemy, speaking gmerally, apply only (a) to persons resident or carrying on
business in an enemy country or in territory in hostile @ccupation, and (b) to persons of enemy nationality resident
or carrying on business in China, Siam, Persia, Morocco, Liberia
or Portuguese East Africa. I am not definitely aware where any o of the persons specified in your letter reside or carry on
business.
In view of the above you will no doubt
consider your position and obligations towards the shareholders
in question and will again consult your legal advisers as to
what course you should take. It would also be advisable for you
to seek the advice of the British authorities in China.
The legal position of shareholders who are divided by the line of war from the company in which they hold
shares is a question of much uncertainty, and it is this uncertainty and the serious question of policy which is also involved that have led the Hongkong Government to take up the
attitude which they have adapted in this matter.
No comments yet.
Private notes are available after approval.