HC Deb 08 July 1889 vol 337 c1777

Order for Third Reading, read.

Motion made, and Question, "That the Bill be recommitted in respect of an Amendment to Clause 3"—(Mr. Sexton)—put, and agreed to.

(In the Committee.)

MR. SEXTON (Belfast, W.)

I may explain in a few words that the Bill already provides that trustees may invest in the stock of railway companies, and in the stock of water companies trading for profit, subject to certain conditions as to dividend, and also in stock of municipal boroughs. Unless the Amendment I moved is inserted in the Bill, trustees will have power to invest in the stock of the Belfast Corporation, but not in the stock of the Water Commissioners, although their powers rest equally on legislative sanction with those of the Corporation.

Amendment proposed, Clause 3, page 2, line 29, after "stock," insert "or in the mortgages or stock of any Board of Commissioners or Corporation established by Act of Parliament for the purpose of supplying water, and having a compulsory power of levying rates, provided that for ten years past before the date of investment the rates levied shall not have exceeded eighty per centum of the amount authorised by law to ho levied."

Question proposed, "That those words be there inserted."

MR. COZENS HARDY (Norfolk, N.)

I hope the Committee will agree to the Amendment.

Question put, and agreed to.

Bill reported; as amended, considered; read the third time, and passed.