GIPE-PUNE-OIIOI2 - DSpace@GIPE

4 PRINCIPLES OF CONTROL OVER
officer of this company, again, is not a Briton but
a German.
As has been incidentally noted, these five offices 3 ~re
of considerable financial importance in the business
world. All of them, . besides, are concerns ~ossessing
the nationality of political "Creat Powers." But while
running· branches in Germany, no matter for what line
of insurance, none of them happen to be r,epresented at
the highest responsible position by their own nationals.
The general managers or .directors are invariably Germans,
. i.e. persons possessing the nationality of the
country in which the branches are located. This, however;
is not an. accidental phenomenon with these five
houses. All the foreign offices functioning in Germany
find themselves in the same condition. For their business
in Germany they have German directors.
The German law pf insurance says simply that der
Hauptbeoollmaechtigte, i.e. the principal person With
the "power of attorney", the chief responsible official, is
to, be a person der innerhalb des Reichsgebiets seinen
Wohnsitz hat (Act of 1901). der im Reiche w.chnt (Act of
,1931). i.e. who has domicile in the German Empire.
The nationality of the person has not been definitely
stated in the Act of 1901 or of ,1913 (section 106).· But
on enquiry at the A ufsichtsamt (Government office of
.control for insurance business) as well as at certain business
houses one finds that the Verwaltungspraxis or
administrative practice takes it for granted that no I
. .
foreigner would be authorized with the power of attorney"r
to carryon· insurance business of any· kind within the'
3 Neumann. Jahrbuch 1931, pp. 642, 669, 654.