§ Where before the passing of this Act any balance of the sums or other property resulting from the realisation of any assets of a business ordered to be wound up by an Order under the principal Act, being a business carried on by a company, have in pursuance of directions of the Board of Trade been distributed amongst members of the company as being persons interested in such balance, such distribution shall be deemed to have been lawful and within the powers conferred by the principal Act.
Major NEWMANI beg to move, after the word "company" ["members of the company"], to insert the words "not being enemy subjects."
I do not suppose that the assets will be distributed amongst other than British subjects. Certainly the Clause means that the enemy alien does not get his share of the distribution. I suppose there is some previous Clause, or some previous Clause in some other Act, dealing with this subject.
Sir A. STANLEYThe object of this Clause is simply to regularise something which has already been done, and not something which takes place in the future. Therefore, the point raised by the hon. and gallant Gentleman cannot arise.
§ Amendment negatived.
§ Clause ordered to stand part of the Bill.
§ Clause 7 (Claims against Businesses or Companies being Wound up) ordered to stand part of the Bill.