§ Order for Second Reading read.
§ Mr. SpeakerI have had to give careful consideration to the question whether this Bill should proceed as a Private Bill or whether it should be a Public Bill. The Bill is promoted by the National Association of Almshouses to enable the trustees of any almshouse in the country, who are, or may be in the future, members of the Association, to transfer their funds to a central body which shall have power to invest in equities as well as trustee stocks.
I think that there are two grounds of objection to the Bill proceeding as a Private Bill. In the first place, on the ground of public policy, in that it extends the powers of investment of an indefinite number of trust funds beyond those of the general law. In the second place, on the ground that the Bill is promoted by an association on behalf of its members, the number of whom is not fixed, and could include every almshouse in the country. The Bill therefore is one of general application.
788 I am therefore ruling that, as a result of the questions of public policy which it raises and the general application of the Bill to all almshouses, this Bill is not proper to proceed as a Private Bill, and it must be withdrawn.
§ Order for Second Reading discharged.
§ Bill withdrawn.