CO129-474 - Governor Sir Stubbs - 1922 [1-4] — Page 68

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Court of Directors to sign scrips for shares at their respective branches or agencies. On the 19th December 1867, the Court of Directors further authorised the special agent of the Corporation in London to get a dupliosta meal of the Corporation mode and to affix that smal to shares on, or to be put on, the London

Register.

"Sharos held in the above mentioned countries have been habitually transferred on the local registers and share Certificates have been issued in London, st Changhai and at

Jalcutta to the transferees without any reference to the Court of Directors or to the Chief Manager in Hongkong. The Registers kept in Hongkong for shareholders resident in the said countries

are merely transcripts of the local fazisters kept in London,

at Shanghai and at Calcutta rospectively, all transfers of shares being reported to Hongkon; periodically by the local managers,

"In these circumstances the plaintiff as representing

the Crown clsins from the defendant as Executrix of the testator

payment of probate duty in lion.kong on the above mentioned

1,472 shares, on the ground that they are situate within the

Frebate Jurisdiction of this Court and therefore form part of the state and effects of the testator upon which probate duty ought to be paid in this colony. The defendant, on the other

hand, resista payment of the probate duty so claimed on the

grouna that the shares in question are not property locally

situate in Hongkong, but are property situate in England and

within the jurisdiction of the upreme Court at "hanghai

respectively.

"The defendant white that there is no express

authority in the Ordinances constituting and affecting the

Corporation or in the Corporation Deed of Settlement for the opening of the Registers in London, at <hanghai, and at alcutta. The Corporation is not subject to the provisions of the

Companies' Ordinances.

"In this state of facts the following question is

rained for the decision of the Court:- hether the snád 1,472

shares