Under the laws under which we operate, it is necessary that the agreement should receive the sanction of the High Court of Justice in England, under Section 13 of the Assurance Companies' Act 1909. This sanction is now being sought, and we hope shortly to be able to make some declaration in the matter. Such an agreement as this also requires the approval of the Minister of Finance for the Dominion of Canada, and such approval has already been given. The agreement does not become absolute until such orders are obtained from the Supreme Court in Shanghai, under Section 121 of the Hongkong Ordinances 1911, or any other relevant statutory pro-sions, as may be necessary to give full effect to the agreement. We hope to be able to take tha steps necessary in the Supremd Court in Shanghai early in July.
The following resolutions were passed That the directors' report together with the accounts and baiance sheet for the year ended December 81, 1922, be and they are hereby accepted and _passed.—Proposed by Mr. C. R. Burkill, seconded by Mr. A. E. Algar.
Tha Messrs. C. R. Burkill' and A. J. Welch be and they are hereby re-elected directors of the company.—Proposed by Mr. A. E. Algar, seconded by Mr. C. J. Stewart.
That Messrs. G. H. & N. \Thomson be and they are hereby elected auditors for the year ending December 30 1923.—Proposed by Mr. C. J. Stewart, seconded by Mr. H. R. Sturt.
Text read from the printed page and cleaned; old type leaves the occasional error.