First And Second Reports of the Select Committee On the Stamp Acts Amendment Bil

Cape of Good Hope South Africa Parliament Hous

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K. IniMhi l)(. Iicccssaiy thai sonic ul' tlieiii should iinikn '_°"* sonu' (U^posit I'oi' the security of the iiisiiixMs mid ^"- -''•"'" so forth y — Well, ol' course, as you arc awnro, no local company needs to make a deposit of securi- ties with the (lovernment. Tlie . \ct states it is for those ('ompani(>s whicli have their head offices outside the Colony, and as I am here to state wliat is my honest l)elief, I say. Althoui^h it would cause me some jjcrsonal inconvenience. I think it is in t...he interests of the State that all (\)mpanies, whether they have their h(^ad offices ahroad or are founded locally, should make that deposit. It seems to me manifestly unfair that any person can float a C^ompany here, and adA^ertise — I lay stress ui)on the point — ^Untf//o}-ised capital" under the term *' capital " when it practically hasn"t got a hrassfarthinii'. It is most misleading to people in the counti-y. And a ij^reat numljcr of people have felt themselves to have been defrauded.

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