Sessional_Paper_1890 — Page 397

393

No. 24

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Nog 130

Enclosure.

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Enclosure 3. 28th April, 1890.

C. S. O. .

Sub-enclosure to Enclosure 3.

HONGKONG.

DESPATCH IN CONNECTION WITH COMPANIES ALTERING THEIR MEMORANDA OF ASSOCIATION.

Laid before the Legislative Council, by Command of His Excellency the Officer Administering the Government.

MY LORD,

GOVERNMENT HOUSE,

HONGKONG, 3rd May, 1890.

I have the honour to mention to Your Lordship certain facts in connection with an Ordinance which has lately passed the Legislative Council of this Colony, but to which, for the reasons hereinafter related, I have not given my assent.

2. The Ordinance in question is a Private Ordinance entitled The Hongkong Land Investment and Agency Company Limited Ordinance, 1890, the object of which is to enable the Company to transact business elsewhere than in this Colony, and to extend its powers of investments which under the present Articles of Association it is unable to do.

3. Notification of the intention to introduce the Ordinance was given in the Government Gazette in accordance with the Standing Orders of the Legislative Council and the Bill was duly published as required by the same.

On the 26th of March it was read a first time when no opposition to it was offered.

On the 5th of April it came on for second reading and passed through Com- mittee. All proceedings connected with it were unopposed and nothing, except a verbal alteration, having been made in Committee it was, as permitted by the Standing Orders, read a third time and passed at this same sitting.

4. On the 11th of April I received a letter, of which I enclose a copy, from Mr. FRANCIS, Q.C., the leading Barrister here, requesting that for the reasons mentioned by him I should refuse to give my assent to the Ordinance. I referred this letter to the Attorney General and Mr. GooDMAN, in the opinion he gave, advised me to withhold my assent until I was satisfied that every Shareholder of the Company had expressed his willingness that the Bill should become law in its present shape.

I accordingly caused the substance of this opinion to be communicated to Messrs. WOTTON & DEACON, the Solicitors for the Company, and shortly afterwards addressed a letter, copy enclosed, to the Colonial Secretary.

Your Lordship will see from this letter the reasons why the Directors urge the desirability of passing such a law as the one in question and their references as to what has been done in England, and in the Straits Settlements in regard to the same question. The Directors ask in conclusion that the Ordinance which has passed the Council, but has not yet been assented to, be not further proceeded with and that in lieu thereof a new Bill be introduced on the lines laid down in the Report of the Select Committee a copy of which is annexed to the Secretary's communication. The Directors suggest, however, that before this is done I should communicate with Your Lordship on the subject.

The Right Honourable

Lord KNUTSFORD, G.C.M.G.,

Fe..

&c.,

$.c.