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After the whole undertaking of any company incorporated by Act of Parliament is vested in or acquired by a district electricity board under this Act, such company shall subject to the provisions of this Act, be wound up under and in accordance with the provisions of and in the same manner and with the same incidents as if the company were a company registered under the Companies (Consolidation; Act, 1908, and had on such vesting or acquisition duly passed a special resolution requiring the company to be wound up voluntarily, and for the purposes of such winding up the company shall, from and after such vesting or acquisition, be deemed to be registered in England under the said last-mentioned Act, and for the purpose of calling and holding meetings and passing resolutions, and other matters incident to such winding-up resolutions of meetings of the company convened and held in pursuance and in accordance with the provisions contained in the Acts relating to the company, may and shall take effect as resolutions of a company duly registered.
§ Sir W. MITCHELL-THOMSONI beg to move, to leave out the word "England" ["registered in England"] and to insert instead thereof the words, "that part of the United Kingdom in which its principal place of business is situate."
The effect of the Clause, as it has been drawn, would be that a company operating, for instance, in Scotland, would be deemed to be, registered in England for the purposes of liquidation. Clearly, I think, that is not desirable. The words I have chosen are taken from a section of the Companies Act of 1908, which deals with unregistered companies.
§ Mr. BRIDGEMANI quite agree with the opinion expressed by my hon. and learned Friend, but I am advised that this is not quite the best phraseology to use. The better, perhaps, are the words put forward by my right hon. Friend the Home Secretary, a little lower down on the Paper.
§ Sir W. MITCHELL-THOMSONI have not the slightest objection to the words of the Home Secretary. They both mean exactly the same. But I would again observe that my words are actually as taken from the Act of 1908. It is all one to me though, I do not mind.
§ Mr. BRIDGEMANI have no affection for one set of words or the other, but I am advised as I have stated.
§ Sir W. MITCHELL-THOMSONI still think the Government are under a misapprehension in the matter. I still think the form I have suggested is the better.
§ Mr. BRIDGEMANIf there is any dispute about the exact form of words I am quite ready to accept the words of my hon. Friend if, after mature consideration, it is found advisable.
§ Sir W. MITCHELL-THOMSONI leave it at that.
§ Amendment, by leave, withdrawn.
§ Amendment made: Leave out the word "England" and insert instead thereof the words, "the part of the United Kingdom in which the principal place of business of the company is situated."—[Mr. Shortt.]