§ MR. BOUVERIE, in moving that the House agree with the Lords' Amendments, said, he would take that opportunity of ex- 869 plaining their effect. Hon. Members would recollect that when this Bill was read a second time in that House a discussion took place upon its provisions, which were intended to effect two objects. The first of these objects was the winding-up of certain of the affairs of the South Sea Company, a course rendered necessary by the financial operations of the Chancellor of the Exchequer. The other object was to enable the South Sea Company to take the management of trust estates. This latter he believed to have been a most important provision, but he was sorry to say that in another place it had been determined to amend the Bill by striking out all the clauses relating to this object, and to this Amendment he had now to move the House to consent. The South Sea Company assented to the Amendment, but they only did so because they were obliged to wind up their affairs within a specified time.
§ MR. T. GREENEsaid, he should give his concurrence to the views expressed by the Member for Kilmarnock, because he always regretted to see unnecessary restrictions placed upon any of our great incorporated bodies.
§ MR. HENLEYsaid, he considered that the House of Lords had done quite right in making the amendments which they had, and he thought it would be very dangerous to intrust any such powers as those proposed by this Bill to public companies.
§ Lords' Amendments agreed to.