CO129-509-7 Proposed amendments to Hong Kong and Shanghai Banking Corporation 15-2-1928 - 25-9-1928 — Page 20

Copy.

Enclosure No. 1.

20

Johnson, Stokes & Master,

Solicitors & Hotaries.

Prince's Buildings,

Ice House Street,

Hong Kong, 8th June, 1928.

The Honourable

The Attorney General.

Sir,

We have now had an opportunity of seeing the

Chief Manager of the Hong Kong and Shanghai Banking

Corporation on the letter from the Treasury to the Under-

Secretary of State for the Colonies dated the 21st February,

1928.

With regard to paragraph 2 of that letter the

Bank agrees to the amendment of Clause 5 (1) of the draft

Ordinance as mentioned in sub-paragraphs (a) and (b) of that

paragraph. It would appear, however, that the words "as

ancillary thereto" should be inserted after the words "bus in-

ess of banking and" in line 2.

With regard to paragraph 3 sub-paragraph A,

the amendments to Regulation 3 therein referred to have been

agreed to by the Bank.

With regard to paragraph 3 sub-paragraph B,

the Bank consider it desirable that Regulation 3 (4) should

be retained as drawn, and it does not appear to us that s.s.6

and 11 cover the same ground.

On the 3rd November last the Bank wrote to

the Honourable the Colonial Treasurer, Hong Kong, with

reference to this clause, as follows:-

"In modern banking business, however, it is

"contended that in order to meet all eventualities,

especially

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