HC Deb 06 December 1932 vol 272 cc1577-8

10.56 p.m.

Mr. PYBUS

I beg to move, in page 95, line 18, to leave out from the beginning to the end of line 28, and to insert instead thereof the words: The companies specified in Part I or Part II of the First Schedule to this Act (other than the South Metropolitan Electric Tramways and Lighting Company, Limited), which companies are in this section referred to as the transferred companies,' shall in the case of a transferred company being a statutory company, as soon as the transport stock to be issued as consideration for the transfer to the board has been issued and distributed in accordance with this Act and, in the case of a transferred company not being a statutory company, as from the appointed day, enter upon the liquidation of their affairs and upon the conclusion thereof be dissolved in manner provided in the Third Schedule to this Act. This is a drafting Amendment designed to bring this Clause into accord with the Third Schedule, with regard to the liquidation of the companies.

Amendment agreed to.

Further Amendments made: In page 95, line 29, leave out the word "section," and insert instead thereof the word "sub-section."

In page 96, line 6, after the word "affairs," insert the words: and for any other purposes necessary for enabling a transferred company to give effect to the provisions of this Act."—[Mr. Pybus.]