43779-1915-Supplementary-Bills-read-a-first-time--Full-Court — Page 5

Limitation

on powers of certain

companies

434

7. No action shall be brought or other proceedings commenced by a company the books and documents of which are liable to inspection under sub-section (3) of to commence section 3 of the Trading with the Enemy Ordinance, 1914. proceedings. as enacted by section 2 of this Ordinance, unless notice in writing has previously been given by the company to the custodian of their intention.

5 & 6 Geo. 5, c. 79, s. 4: Ordinance No. 25 of 1914, s. 3 (3).

Objects and Reasons.

The main object of this Bill is to intro luce the provisions of the Trading with the Eneiny Amendment Act, 1915, 5 & 6 Geo. 5, c. 79. It also makes certain other minor amendments in the law.

Clauses 2 and 3 are intended to improve the provisions for restraining the registration of companies formed for the purpose of acquiring the whole or any part of the under- takings of firms or companies, which, though not entirely of enemy character, yet contain such an amount of enemy character, or such a connection with the enemy as to render them liable to suspicion.

The effect of the amendments will be to make the law on this point the same as the law in the United Kingdom.

Clause 4 is taken from the Trading with the Enemy Amendment Act, 1914, 5 & 6 Geo. 5, c. 12, and pro- vides an additional ground for the appointment of a con- troller under section 4 of the Principal Ordinance.

Clauses 5 to 7 are taken from the Trading with the Enemy Amendment Act, 1915.

Clause 5 includes in the list of moneys which must be paid to the custodian (a) the interest on securities issued by any government or corporation and (b) any amount payable on the payment off of any security issued by a company. It also throws on the person through whom any interest on such securities would be paid in the Colony the duty of making the payment to the custodian. A sub- clause gives the Governor power to exempt any liquidator or any other person from the operation of this clause.

Clause 6 adds to the forms of property held on behalf of an enemy which must be notified to the custodian (a) balances and deposits standing to the credit of enemies at any bank and (6) debts to the amount of $500 or upwards which would have been due to enemies. It also requires the custodian to keep a register of all property returns which will be open to inspection by persons interested. The Governor is given power to exempt from this section also.

Clause 7 requires companies which are liable to inspec- tion on account of their partial enemy character or their former connection with an enemy, to give notice to the custodian before commencing any legal proceedings.

J. H. KEMP,

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A BILL

Attorney General.

Short title and con- struction.

INTITULED

An Ordinance to amend the Magistrates Ordi- nance, 1890, and for purposes connected therewith.

BE it enacted by the Governor of Hongkong, with the advice and consent of the Legislative Council thereof, as follows:-

1. This Ordinance may be cited as the Magistrates Amendment Ordinance, 1915, and shall be read and con- strued as one with the Magistrates Ordinance, 1890, here- inafter called the Principal Ordinance, and with the Ordinances amending the same, and the said Ordinances and this Ordinance may be eited together as the Magis- trates Ordinances, 1890-1915.

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