§ SIR GEORGE BARTLEY (Islington, N.)I beg to ask the Secretary to the Board of Education what amount of grants have been paid out of public taxation to the Girls Public Day School Company since the 31st March last; whether that company still pays its shareholders 4 per cent. dividend; whether these public grants to dividend-paving companies are to be continued; and, if so whether they will be extended to other educational adventures for private profit.
§ THE PARLIAMENTARY SECRETARY TO THE BOARD OF EDUCATION (Sir WILLIAM ANSON,) Oxford UniversityNo grants have been paid since 31st March, 1904, to the Girls Public Day School Company, but grants will be paid of the year ending 31st July, 1904. I believe the last dividend declared by the company was 4 per cent. For the future a school owned or conducted by a company will only be eligible for recognition if the company is wound up and its property vested in trustees on trust for the purpose of secondary education. The amount of the share capital, so far as actually expended on site, buildings, or equipment, can in such cases be treated as a charge on the property, subject to the repayment of principal with interest at the rate of not more than 4 per cent. within a limited period of time. It may be necessary to allow certain companies who are taking steps to comply with these conditions another year under existing conditions, in order to give them time to make the necessary alterations in their constitution. As regards the last paragraph of the Question, I must refer the hon. Member to Article 20 of the new Regulations for Secondary Schools, which expressly lays down, as a condition of recognition, that a school must not be conducted for private profit.