HC Deb 28 July 1947 vol 441 cc214-5

Amendments made: In page 130, line 9, at end, insert "and subsection (5) of that Section."

In line 46, leave out from the beginning, to end of line 48, and insert: In Subsection (1) of Section one hundred and forty-four, the words "or managers" and, in paragraph (a), the words from "and if," to the end of the paragraph, except the words "and his business occupation if any."—[Mr. Belcher.]

Order for Third Reading, read.

12.53 a.m.

Sir S. Cripps

I beg to move, "That the Bill be now read the Third time."

I do not propose to detain the House any time, but I must first notify the House that the King's Assent has been given to Clause 100 making certain provisions with regard to property vested in the Crown.

I think this Bill shows the results of the endeavours of many people on many sides of the House to direct and forge the best implement we can to regulate company practice and procedure in this country and to bring them up to date. By these provisions we have brought about a closer relationship between ownership and control in the companies and remedied many of the faults in Company Law which have made themselves apparent over the years since the last Act was passed and we have laid a firmer and better foundation for the good reputation which British companies have in many parts of the world.

Mr. B. Bracken

Were it not a sultry morning, one could take up a great deal of time in this agreeable task of congratulating ourselves on passing such a good Bill. I must say that if this Government would only concentrate on measures such as this, the work of His Majesty's loyal Opposition would indeed be a pleasure. I feel that we should congratulate the right hon. and learned Gentleman on the part he has played in bringing in this Bill. His two Parliamentary assistants who have borne the burden and the heat of the day, more especially the Solicitor-General, are also to be congratulated; and the officers, without whom we would not now be giving a Third Reading to this Bill, are entitled to very great credit. Before I sit down, I would say that Lord Justice Cohen and his Committee have rendered a very great service to the country.