30
hew du Note)
Governor in Council, as recommended in
paragraph 32 of the Report of the
Departmental Committee, copies of which
were sent to Hong Kong in the Secretary
of State's circular despatch of the 3rd
of August, 1935.
The position should presumably
be that deposits should not be accepted
above the limit of $5,000. The object
of a limit of total deposits is to
prevent large sums of 'short' money being
placed temporarily in a Savings Bank,
but accumulating interest is not of
course essentially money of this kind
simply looking for the most favourable
rate for the moment. There seems
therefore to be no objection to interest
being not merely left but allowed
itself to carry interest. If this view
is accepted the draft Ordinance will
require amendment.
This
Section 366.
There is under thio-
does not prescribe
section no restriction on savings banke
as
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