MR. T. M. HEALYI beg to ask the Chief Secretary to the Lord Lieutenant of Ireland what course the Government intend to take respecting the Report on the Irish Loan Fund Boards; is legislation intended? and do the Government mean to allow depositors to be at the loss of the investments made on the security of an institution managed by a department in Dublin Castle, and having a secretary appointed by the Lord Lieutenant.
§ MR. GERALD BALFOURThe Committee of Inquiry, in their Report of December last, made certain recommendations for the future control and management of the loan societies working in connection with the Loan Fund Board, and new rules, substantially embodying most of the recommendations of the committee, have been issued by the board to these societies. The whole question of the management of the societies has engaged the careful attention of the Loan Fund Board, and Government are also considering the question of the necessity of further legislation in connection with them. As I have already more than once pointed out, Government accept no responsibility whatever for any losses that may be incurred by depositors in the funds of loan societies. It is true that the Lord Lieutenant is empowered to appoint the secretary to the board, but the executive exercise no control over the proceedings of the board or the individual societies, all of which are locally managed. I may add that no portion of the salaries of the officers of the board, or local societies, is paid out of moneys voted by Parliament.
MR. T. M. HEALYasked whether the right hon. Gentleman could say whether he intended to introduce legislation on the subject this session?
§ MR. GERALD BALFOURCertainly not this session; and I cannot give a positive answer as to whether it will be introduced next session.