§ On Motion of Mr. LOWE, Act read.
§ MR. LOWE moved, that the House do go into Committee, to consider the said Act.
§ Motion agreed to; House in Committee.
§ MR. LOWErose to move—
That the Chairman be directed to move the House, that leave be given to bring in a Bill to amend the Joint-Stock Companies Act of 1856.This measure was almost entirely technical in its nature, being intended to cure certain difficulties which had arisen in the construction of the Act of last Session. Almost the only exception to this would be some clause inserted with a view to compel companies to come in under the Act which had not yet done so, and thereby to prevent two distinct systems of law from coexisting on the same subject. It was not necessary, then, to trouble the Committee by describing the details of the Bill; but it might be interesting to hon. Gentlemen that he should state the result of the Act of last year. That measure received the Royal assent on the 16th of July, from which date up to the present time 410 companies had been formed, nine of which had unlimited, and 401 limited liability. The right hon. Gentleman concluded by moving his Resolution—Resolved, "That the Chairman be directed to move the House, that leave be given to bring in a Bill to amend the Joint-Stock Companies Act, 1856.
§ House resumed.
§ Resolution reported.
§ Bill ordered to be brought in by Mr. FITZROY, Mr. LOWE, and Mr. WILSON.
§ Bill read 1°.