CO129-561-6 Companies Amendment Ordinance draft bill- correspondence 18-1-1937 - 6-7-1938 — Page 18

18.

Lee

? covered by the

wewaal Causes of the

Palcoline Promance

I adopt tum

дро

welcome the use

ftho word "Smony"

(No. 27 of 1937)

press the matter further.

(2) Sir P. Ezechiel also points out that in

Falestine the method adopted to meet the dangers of

the banking situation was to appoint a specialist

examiner to make a full study and recommend the

legislation to be enacted in several stages. I doubt

if the comments which have been made on the full draft

Bill submitted show sufficient reason to turn it down

and adopt this suggestion. No doubt the Advisory

Committee, when established, may have further sugges-

tions to make, but these may well be considered later.

(3) The Treasury point out the fundamental

Whereas

importance of the examiner to be appointed.

the Bank of England consider that he should be a

banker of experience, the Treasury consider that

expert opinion can be conveniently supplied by the

Advisory Committee.

I think this question might be

left until we have to select the officer concerned.

The following are comments on Clauses of the

Ordinance taken in sequence:-

Section 2. The Bank of England point out that

the words "or any derivatives or foreign equivalents thereof" shld be added. On the more general aspects

of this Section it may be noted that the Board of

Trade consider that there would be objections to such

a provision in this country, as the use of such words

in a company's name might be wrongly regarded by the

public as implying some sort of guarantee. The General

Post Office, however, welcome this provision, which

was also recommended by the Palestine Committee and

has the backing of Sir Percy Ezechiel. It is also

included in the present Palestine Ordinance, which

as yet has not, however, been disallowed Though presumably

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