§ MR. EDWARD MITCHELL (Fermanagh, N.)
I beg to ask the Chief Secretary to the Lord-Lieutenant of Ireland if he can say what is being done with the money collected by receivers appointed to various loan funds in Ireland: whether the debenture-holders will soon get payments out of the amount collected; and, if so, can he say when.
§ MR. ATKINSON
The Loan Fund Board have as far as practicable authorised the payment, by the receivers appointed by the Board, of dividends to the debenture-holders out of the money collected; but owing to the fact that the Loan Fund Societies did not within six months from the passing of the Act of 1900 sue the persons liable on notes, the collection of the outstanding loans is now suspended pending the passage through Parliament of the amending Bill introduced on the 15th of March last. Until that or a similar measure has been passed, the payment of the borrowers' debts cannot be enforced, and as a consequence dividends cannot be paid to the debenture-holders.