CO129-561-6 Companies Amendment Ordinance draft bill- correspondence 18-1-1937 - 6-7-1938 — Page 25

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Only half is requland.

We?).

suggest that savings banks should at least be

prohibited from certain operations such as lun sxccared

speculati on in foreign exchange or insecure

loans to private persons. I doubt if this

point is sufficiently covered by sub-section 2,

and we might suggest such provision to the

Colonial Government.

Section 371. The G.P.O. presume that

this clause would only operate in the event

of a company getting into difficulties and that

normally the ordinary withdrawal facilities

through the company would suffice. I presume

that this is the case, but we might comment

accordingly to Hong Kong.

The B. of E. also state that the

activities of savings bank companies do not

(except by implication) come within the

purview of the Examiner of Banks, and suggest

that they should be subject to Government

supervision. I am not sure whether savings

I kamil leis in len banke would come under the heading of banking inther he cave had

better wahr

Cur front (C.).

companies which are subject to examination by

this officer under Section 356, but it might

advisable

perhaps be że to suggest that this

should be done.

? Approve the draft Bill and comment

as suggested above. Copy despatch to Crown

Agents, Board of Trade, General Post Office

and Treasury, L. FF.

17 Bu

P. Roger

7.X4.37.

I am

I han huld this was in the Sumay

Lopes of finitung him to shedly the racions commate,

but often pressing work has kept

retan on 10 slays have

bury:

Son Gant

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