HC Deb 21 July 1856 vol 143 c1119

Order for Third Reading read.

Motion made and Question proposed, "That the Bill be now read the Third time."

MR. VANCE

said, he objected to that provision in the Bill under which it would not be necessary that a certain number of directors should annually retire. By such a retirement, which was enforced in many banks, a great safeguard against fraud was afforded to the shareholders; and he believed that with such a safeguard the late frauds in the Tipperary Bank could never have been committed. He should, therefore, move that the Bill should be read a third time that day three months.

Amendment proposed, to leave out the word "now," and at the end of the Question to add the words "upon this day three months."

MR. ROEBUCK

said, he thought the best course the Legislature could pursue in that case was to let shareholders decide for themselves whether or not they should re-elect any Director. They must look to their own vigilance for their own security against fraud on the part of the Directors, and it would surely be unwise to prevent them from continuing their confidence in any particular individual.

Question put, "That the word 'now' stand part of the Question."

The House divided:—Ayes 92; Noes 12: Majority 80.

Main Question put, and agreed to.

Bill read 3°, and passed.