CO129-515-8 Hong Kong and Shanghai Banking Corporation- amendment ordinances- and reports 26-1-1929 - 8-7-1929 — Page 10

24xon 52801/28

Enclosure No. 2.

ATTORNEY GENERAL'S CHAMBERS,

Hong Kong...1.8.th. May..........1929.

REPORT ON ORDINANCE No........................of 1929.

A.

I have examined the accompanying Ordinance. intituled an

Ordinance to amend the constitution of the Hongkong and

Shanghai Bank Corporation, and I am of opinion that the

Ordinance is one which is not contrary to the Governor's

instructions.

2.

The introduction of this Ordinance was approved by

the Secretary of State in his telegram of the 14th September,

1928, subject to the following conditions :-

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(a) that the privilege of note issue should not be

extended beyond the year 1939, when the

privileges granted to the Chartered Bank of

India, Australia and China expire, and

(b) that the corporation should give certain

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undertaking which was further elucidated in the

Governor's telegram of the 26th January, 1929,

and the Secretary of State's telegram of the

1st February, 1929.

Condition (a) has been observed by the provision of

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