§ 33. Mr. CURRIEasked the Chancellor of the Exchequer whether his attention had been drawn to the fact that the parish council of a parish in Scotland purchased through the Post Office a small holding of the New War Loan, and had no difficulty in obtaining a certificate registered in the name of the chairman and clerk for the time being, but that when the parish minister of the adjoining parish endeavoured to invest a small sum belonging to a parish trust in the name of the parish minister for the time being, the Bank of England declined to issue a certificate so registered; whether there is any reason for the Bank of England declining to do as the Post Office does; and, if so, what the reason is; and whether trustees in Scotland are to understand that they can freely purchase War Loan through the Post Office in Scotland and have the trust registered, as is the practice in Scotland.
§ Mr. McKENNAA parish council in Scotland, as in England, is a body corporate and accordingly stock may be inscribed in the name of a parish council as in that of any other corporation. The Bank of England cannot register stock in the name of "the parish minister for the time being" for the reason that a parish minister is not in Scotland a corporation sole and that the Bank, following the practice which prevails universally in England and Ireland, takes no cognisance of trusts and therefore cannot accept an account in a form implying notice of a trust. In the case of a trust the Post Office in inscribing War Stock follows the practice of the Bank of England, and registers the stock in the names of trustees without recognising the trust.