CO129-510-15 China (Companies) order in Council- 1925- correspondence 19-4-1928 - 31-12-1928 — Page 44

sof

1907

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3.

In these circumstances it appears to me to be impossible to

agree with the contention that the provisions of Section 7(1)

of Ordinance No. 31 of 1915 wrought any hardship whatsoever

to shareholders in ChinяCompanies.

3.

The reference in the retiti n to the rights of

Companies incorporated in England appears to me to be made to

leading. The right of such Comp mies to keep "colonial

registers" was first introduced by the Companies (Colonial

Registers) Act, 1883. the preamble to which read as follows:

"Whereas many companies registered under the Companies

Act, 1862, carry on business in Iritish Colonies, and dealings in their shares are frequent in such colonies, but delay, inconvenience, and expense are occasioned by reason of the absence of any legal provision for keeping local registers of members, and it is expedient that such provisions as this act contains be inde in that behalf.

This Act of 1883 was repealed in 1908, but its provisi ons

were substantially re-enacted and are now to be found in

sections 34 to 36 of The Companies (Consolidation) Act, 1908.

Section 34(1) of the latter Act reads -

4.

*34(1) - A company having a share capital, whose

objects comprise the transaction of business in a colony, my, if so authorised by its articles, cause to be kept in my colony in which itstransacts business a branch register of members resident in that colony (in this Act called a colonial register.)

Prior to 1st January, 1912, the Compará es Ordinances

of Hongkong did not contain any provisions corresponding to

those introduced In England by the Act of 1853 above referred

to. But in Sections 35 to 37 of Hongkong Ordinance No. 58

of 1911 we find Sections 34 - 36 of The Companies (Consolida-

tion) Act 1908, substantially adapted t› meet local conditions.

The proviso contained in Section 35(1) of the ordinance reaus:

"Provided that a comp∙ny applying for such liceme

must satisfy the Registrar of Coupanies by a statutory declaration to be filed with him or other- wise that a principal part of the business of the Company is carried on at or near the place where it desires to keep such a„ragister."

5.

It will be seen that the preamble to the act of 1883

makes reference to frequent dealings in the colonies in the

shares/