3
No objection A sa of
DAY
no.
a procedure (I see that several China companies
have already been registered by the Hong Kong
Registrar of Companies under the Proclamation
see Gazettes of 9 and 23 August 1946).
On the question of the change of capital
of a China Company from Chinese dollars to Hong
Kong dollars, which has been under consideration
locally and which has been discussed between the
Colonial Office, the Board of Trade and the China
Assurance on the 5th December at the Board of
Trade, there is much conflict of opinion.
The
Board of Trade's final suggestion at the meeting
was that Hong Kong should at least enact
legislation under which a China company should
be allowed to convert its capital from Chinese
dollars to Hong Kong dollars if it wished, subject
to a resolution by the shareholders and with the
consent of the Registrar of Companies instead of
the normal procedure of obtaining the consent of
the Courts and of the Governor in Council as
required by Article 3 (2) (a) (b) of the Military
It would be advisable to confirm
Proclamation.
that this is the considered view of the Board of
Trade in writing before putting the suggestion to
the Governor.
Paragraphs
13 and 14 deal with non-
China companies, which transferred their
registration from
Hong Kong to this country
during the war and now wish to transfer
back again.
This is a matter on which
the Board of Trade are concerned and I propose
/to
No comments yet.
Private notes are available after approval.