§ MR. FETHERSTONHAUGH (Fermanagh, N.)To ask the Chief Secretary to the Lord-Lieutenant of Ireland whether his attention has been called to the condition of the Ballyshannon, Derrygonnelly, Killeter, and Ballinamallard Loan Funds; whether he is aware that a number of poor persons in Fermanagh 389 have invested their savings in the debentures of these loan funds, but owing to recently discovered defects in the law money due cannot be recovered; and whether, in view of the number of the borrowers impoverished by interest and fines, and of the fact that the Irish Loan Fund Board is seriously to blame for the present state of things, it is proposed to take early action in the matter.
(Answered by Mr. Bryce.) I understand that the law, as regards loan fund societies in Ireland, requires amendment, in the interest of depositors in the societies, and my right hon. and learned friend the Attorney-General for Ireland has already announced that it is the intention of the Government to introduce legislation on the subject this session, if time should permit. I do not think it can reasonably be said that the Loan Fund Board is responsible for the existing state of the law.