HC Deb 20 April 1939 vol 346 cc663-6

Lords Amendment: In page 27, line 23, at the end, insert: the court means, in relation to any industrial and provident society, the court having jurisdiction to wind up the society.

11.23 p.m.

The Solicitor-General

I beg to move, "That this House doth agree with the Lords in the said Amendment."

In Clause 10, Sub-section 5, the Registrar has power in certain circumstances to present an order to the court for the winding up of an industrial or provident society, but Part X of the Companies Act provides that the winding-up procedure of that Act shall apply in the case of companies not registered under the Companies Act, and the court having power to wind up an industrial and provident society is, therefore, the High Court unless the paid-up capital is less than £10,000, in which case it is wound up in the county court.

Lords Amendment: In page 27, line 27, leave out "inviting" and insert "inducing or attempting to induce."

11.24 p.m.

Mr. Cross

I beg to move, "That this House doth agree with the Lords in the said Amendment."

By this Amendment the definition of "dealing in securities" is made more comprehensive, so that it will catch a veiled or indirect invitation. We have had in mind the kind of instance where a man may call from house to house, ostensibly selling carpet-sweepers or silk stockings, and may take that opportunity of ingratiating himself with people and informing them that he knows a man who is an excellent adviser on purchasing securities. By moving this Amendment, we shall catch such an individual who would be, in this way, attempting to induce, etc.

Subsequent Lords Amendments to page 28, line 33, agreed to.

Lords Amendment: In page 28, line 36, after "servant" insert" or agent."

The Solicitor-General

I beg to move, "That this House doth agree with the Lords in the said Amendment."

Mr. Speaker

This Amendment and the similar one on the top of the next page are consequential upon a previous Amendment, to which I have referred before, and raise questions of Privilege.

Mr. Speaker

A Special Entry will be made in the Journals of the House.

Lords Amendment: In page 29, line 17, at the end, insert: or shares in such an unincorporated building society as is mentioned in Section seven of the Building Societies Act, 1874.

11.26 p.m.

Mr. Cross

I beg to move, "That this House doth agree with the Lords in the said Amendment."

This Amendment is for the purpose of making the definition of shares comprehensive. The Building Societies Act, 1874, is the first Statute incorporating building societies, and societies which existed before that Act are unincorporated bodies. The words proposed to be added ensure that the shares of such societies are included in the definition of shares.

Remaining Lords Amendments agreed to.

The remaining Orders were read, and postponed.

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