CO129-567-10 Companies Amendment Ordinance- draft bill 15-9-1938 - 28-9-1938 — Page 27

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be absolutely protected from all liability

in respect of their statements, but only

when these statements are made in good

faith.

Section 358. Savings banks should if

possible be defined more exactly than by the

use of the words "receives on deposit

minor sums", etc., e.g. the amount of the

eun might be specified. It could then be

left to a Court of Law to say whether a

banking company is or is not a savings bank

company within the terms of the Ordinance.

If the provisc remains, the words "not-

withstanding anything contained in this

section" should be deleted, since the

Governor in Council should be guided by

the previous provisions in arriving at a

decision whether the company is conducting

a savings bank business. It should also

be made clear that if a business is declared

to be a savings bank business the company

should