CO129-555-6 Banking crisis 24-9-1935 - 18-10-1935 — Page 56

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(11) All Banks operating in Palestine should

submit a quarterly statement, in the form

prescribed, to the Treasurer who will publish

a quarterly summary of banking business in

Palestine without disclosing names or

position of Banks (Paragraph 23).

(e) Advisory Committee

(1)

An Advisory Committee should be appointed

under the Chairmanship of the Treasurer

consisting in the first instance of

Mr. A.P.S. Clark, Mr. S. Hoofien,

Mr. L. Le Bouvier and a representative each of urban and rural interests (Paragraph 35);

(11) The Advisory Committee should examine and

report on the periodical statements and will

offer advice on matters referred to it by

Government (Paragraph 35). Dr. Smoira is of

opinion that the Advisory Committee should

include a representative of Co-operative Credit Societies (Paragraph 36).

(f) Liquidity of Assets -

The High Commissioner should take power to

determine the extent and liquidity of assets

to be maintained by local Banks if and when

necessary (Paragraph 35).

(g) General

(i)

No Co-operative Society having in its name the

word "Bank" or "Banking" shall register in

Palestine without the consent of the High Commissioner (Paragraph 49);

(ii) Co-operative Societies having the words "Bank"

or "Banking" in their names and those which

receive