(Acks. 17 wis comments) 32
18 Me Flood So.
.
ور
19 1.0.5.B.
29.6.38
6.738
(Acks 15 with comment)
18. I agree with the C.A's. view that it
the wo
is very desirable that the Government of Hong Kong
should be able to control the activities of locally
registered banks which may wish to extend their
operations into China. The present form of
section 353(2) and (3) would not appear to serve
Kimani purpose, but I have discussed with Mr. Dale
and he suggests that to carry out the object in
view the following clause should be added to the end
of section 353(1):-
and
"and conditions as to the establishing of
branches elsewhere than in the Colony or the entry
into an amalgamation with any banking company in
the Colony or elsewhere".
and sub suchon (2) omitted.
Section 353(3), which in any case will have
to be amended, could then add as a ground for
cancelling a licence non-compliance with conditions
imposed under section 353(1).
19. The G.P.O. refer here to a memo
Su (2) a 1660/38 regarding the action taken in the Colonies generally
General.
to carry out the Model Ordinance drafted by the
inter-Departmental Committee. That referred to
Government Savings Banks, and there is no reason
why Hong Kong should not adopt their own line in
these matters if they so wish. On the other hand, it
seems desirable that as far as is compatible with
local needs a similar system should be adopted,
and
that
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