The Ambasssador in China (Hurley) to the Secretary of State
Sir: I have the honor to enclose herewith, in original and hectograph copies, a set of Amendments to the Draft of the Revised Corporation Law, which was forwarded to the Department as an enclosure to Despatch no. 561, July 20, 1945.29
In sending these amendments to the Embassy, Dr. Sun Fo, President of the Legislative Yuan, stated that the amended draft is now [Page 1224] under discussion by the Commercial Laws Committee of the Legislative Yuan, after which it will be reported to the full session of the Yuan for final enactment. It is understood that no publication is to be given to the amendments as submitted.
Principal feature of the amendments is provision for a fifth form of company organization, the Limited Corporation, the shares of which may not be offered for sale to the public, and in which the liability of individual shareholders is limited to the amount of capital contributed. No amendments are made with respect to provisions regarding foreign corporations, as set forth in Chapter VII of the original draft law.
As already indicated in Despatch no. 561, July 20, 1945, the Embassy is desirous of receiving as promptly as possible the views of the Department and of the Department of Commerce regarding the provisions of this draft of the Revised Corporation Law. It would be greatly appreciated if the views of the Legal Committees of the National Foreign Trade Council and of the China–America Council of Commerce and Industry could be coordinated with the Department’s instruction for the guidance of the Embassy.
Minister-Counselor of Economic Affairs
- None printed.↩