HC Deb 21 December 1927 vol 212 c530
Mr. A. V. ALEXANDER

I beg to move, in page 7, to leave out from the word "that," in line 15, to the word "with," in line 19, and to insert instead thereof the words: the rules of a fund may provide for the deposit of such moneys with a bank, and may also provide for their deposit. I understand that this Amendment is agreed to.

Mr. SAMUEL

The Amendment seems perfectly reasonable, and I have pleasure in accepting it.

Amendment agreed to.

Further Amendment made: In page 7, to leave out from the word "established," in line 22, to the end of line 23, and to insert instead thereof the words:

"in the following cases, that is to say—

  1. (a) where the rules so provided before the ninth day of November, nineteen hundred and twenty-seven;
  2. (b) where the deposit of such moneys is authorised subject to the conditions that every employer with whom such moneys are deposited must be a body corporate having during each of the ten years last past before the date of any deposit paid a dividend or interest at a rate of not less than 3 per cent. on its ordinary shares, and that every such deposit must be secured by a charge on the whole or part of the assets of the undertaking carried on by such employer."—[Mr. A. V. Alexander.]

Schedule, as amended, agreed to.

Bill reported; as amended, considered; read the Third time, and passed, with Amendments.