No
329.
THEC
60731
REF 11 0.7
GOVERNMENT HOUSE.
44
HONGKONG. 15th. October, 1917.
--
!
Sir,
I have the honour to bring to your notice
a state of affairs which exists under the Hongkong Companies
Ordinmoes but which does not seem wholly desirable. It may be that a similar state of affairs has already been considered by
the Board of Trade.
2.
A great many companies have from time to time been incorporated here which carry on their business entirely outside the Colony and none of whose officers reside within the Colony. The absence of full control in such cases has given rise to much criticism. Some of this criticism has been ill-informed, but the difficulty of procuring evidence and the fact that all the officers are outside the jurisdiction
makes the control less efficient than it would otherwise be.
Practically the only action possible is prosecution when returns are not filed and striking off if any fines imposed
upon such prosecutions are not paid.
One important class of such companies has been dealt with satisfactorily by means of the China (Compani- -es) Order in Council, 1915, but there remain 18 companies which carry on all their business in Japan and about 15 companies operating in other parts of the world.
A suggestion has been made that power
might be given to the Registrar of Companies to refuse to
register
RIGHT HONOURABLE
WALTER LONG, M.P.,
&c...
&c.,
&c.,
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