THE LORD CHANCELLOR, in moving the second reading of this Bill, explained that similar measures had been introduced in 1858, 1859, 1860, and 1861, but from various causes had not passed the Commons, although they had been agreed to by their Lordships. This year, however, he had thought it more desirable to commence in the House of Commons, where the measure had been maturely considered before coming up to their Lordships. The great difficulty hitherto had been to provide facilities for the formation of companies, combined with proper safeguards, and another difficulty was to provide in a satisfactory manner for winding-up and dissolution. Another circumstance was that there were many statutes upon the subject, some of which were found difficult of construction and even conflicting, and with the whole of the matters to which he had referred this Bill dealt.
§ Bill read 2a, and committed to a Committee of the Whole House on Thursday next.