CO129-461 - Governor Sir Stubbs - 1920 [5-7] — Page 305

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Copy.

No.60.

Sir,

H.B.M.Consulate-Ceneral,

Shanghai, 17th March, 1920.

201

I have the honour to forward copy of a letter addressed to me as Registrar of Companies by His Majesty's Crown Advocate regarding proposals to allow exceptions to the terms of Article 4 of the China Companies Amendment Order in Council, 1919, and of correspondence with the legal adviser of the British-American Tobacco Company (China) Limited upon the same subject.

Mr. Kennett's suggestion does not find favour with either of His Majesty's Judges to whom I have mentioned it and manifestly such an amendment would place His Majesty's Legation in a most invidious position in deciding which companies might have licences, while giving the public the impression that His Majesty's Government had found the Order impossible to carry out.

I told Sir Arthur Churchman that to my mind his Com- pany must either revert to being a British Company with head- quarters in London or become a Hongkong China Company (though the latter expedient might not work since practically the management would still be at Shanghai), or else must register, say, in the Philippines.

Judgment in the case of the Shanghai Cotton Manufactur- ing Company, Ltd. has been reserved. If the scheme proposed by its directors is adjudged ultra vires, the new Order will be deprived of much of its value. But even though it should prove feasible to evade the provisions of the Order in certain cases where the bulk of the shares are held or can be acquired by aliens, this will not affect the stated policy of our Authorities nor set up a precedent for declaring alien management indispensa ble for the success of a business professedly British.

sd.

I have, etc.

E. H. Fraser,

. Lampson, Esq., M.V.O.,

H. B. M. Charge d'Affaires,

Peking.

Consul-General.