HC Deb 17 April 1905 vol 145 cc305-6
* MR. REGINALD LUCAS (Portsmouth)

I beg to ask Mr. Chancellor of the Exchequer whether he is aware that the Bank of England will not accept a Consols dividend warrant signed by power of attorney, and that, consequently, a payee who is incapacitated from signing his or her name is deprived of all sums accru- ing; and whether he is prepared to take steps for the removal of this difficulty.


A Consol dividend warrant can be discharged only by the person in whose favour it is drawn. If he be physically incapacitated from signing his name, he can discharge the warrant by mark, which must be attested in the usual manner. If, however, a stockholder has granted a power of attorney to some person to receive his dividends and give a discharge therefor, and lodges the power of attorney with the Bank, a dividend warrant is prepared in favour of the attorney and can be discharged by him.


As I am at present in the position of being able to obtain payment of dividends under such circumstances I shall be glad if the right hon. Gentleman will make further inquiries.


Perhaps the hon. Gentleman will communicate with me privately.