CO129-509-7 Proposed amendments to Hong Kong and Shanghai Banking Corporation 15-2-1928 - 25-9-1928 — Page 39

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form

B.

C.

Sub-section (8) Delete the words "from"

"promote" and "subsidise" in the first line.

Sub-section (12) Omit altogether.

The amendment of Regulation 3 sub-section (4)

offered by the Bank is not regarded as

satisfactory:

the necessity for retaining

this sub-section is questioned in view of the

terms of sub-sections (6) and (11) which

largely cover the same ground: and it is

proposed that sub-section (4) be deleted and,

if necessary, sub-section (6) adapted on the

lines suggested in the Board's letter.

The following further amendments are proposed: -

(a) It is suggested that the powers sought

in sub-sections (13) and (14) of Regulation 3

are not necessary to the effective carrying

He

out of business of the Bank and may not be

A

desirable in view of the special relations

existing between the Bank and the Government

of Hong Kong.

(b) Delete the words in sub-section (18) of

Regulation 3 from "or for enlarging the

powers" to the end.

(c)