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Governor in approving the Deed of Settlement, were aware of its
existence and impliedly gave their sanction to its continuance.
But, however this may be, it is at any rate a sound and well
settled rule of construction that where the Court finds itself
in presence of a long established and convenient course of
practice or conduct which has grown up under the sanction or
alleged sanction of a written instrument, it ought, if possible,
to adopt such a construction of the instrument ut res mais
valeat quam pereat.
From the evidence before me it appears that there is a
duplicate seal of the Corporation kept in London, but there is no Seal at Shanghai. There may therefore be difficulty about
the issue of share certificates at Shanghai, but in any event, if there is such a difficulty, it is one between the Corporation and its Shareholders and does not affect the principle of
decision in this case,
As to the effect of the finding that the local Register are good and valid registers, reference may usefully be made to the English Acts on the subject of colonial registers. At p.240, Hanson's Death Duties the effect of these Acts in relation to probate duty is thus stated:- The 46 and 47 Vict. C. 30 which authorises companies registered under the Companies Act of 1862 to keep colonial registers of members provides by Sec. 7 that upo the death of any member so registered, the interest shall be deemed part of his estate within the United Kingdom for probate or inventory purposes in like manner as if he were registered at the Companies registered office. By Sec. 18 of the 52 and 53 Vict. C. 42., however, this provision is confined to persons domiciled in the United Kingdom. It would appear, therefore, that shares in such a company, registered in the colonial Register by a person domiciled in a British possession, will be locally situate where the Register is; but that where the person was domiciled in the United Kingdom, such shares will be locally situate in the United Kingdom.
The Court is not asked to decide the question of the
liability
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