HC Deb 22 July 1960 vol 627 cc1012-3

Amendments made: In page 62, line 24, column 3, at end insert "Section forty-four".

In line 38, column 3, at end insert: In section thirteen, in subsection (2), the words from "which shall be" to "particulars as may be prescribed", and in subsection (3), the words from "subject to" to "Building Societies Act, 1874"—[Mr. Barber.]

Mr. Barber

I beg to move: In page 62, line 41, column 3, at the end to insert: and, in subsection (2), the words 'whether they are or are not officers of the society' ". The repeal provided for in this Amendment effects a purely drafting change in Section 14 of the 1939 Act, and is consequential upon Clause 46.

Amendment agreed to.

Further Amendment made: In page 62, line 48, column 3, at end insert: the words in such manner as he may prescribe' and".—[Mr. Barber.]

Motion made, and Question proposed,That the Bill be now read the Third time.

3.8 p.m.

Mr. Glenvil Hall

I know that we are extremely anxious to get on with huffiness, and I do not propose to delay the House for more than a few minutes, but this is a very important Measure and it is the last of its kind we shall have for many years to come. In Committee a great deal was done to improve it, but some changes have been made which, in my view, have weakened it. On the whole, however, most of us are delighted that the Bill is about to reach the Statute Book. We realise that it will make a real change in building society law and put a stop to malpractices which no responsible building society wishes to see perpetuated.

I understand from the Minister that the council of the Building Societies Association has helped materially in the Bill. Although I am not a director of a building society and do not have a mortgage on a house with any building society, I have for many years taken a close interest in the movement, and I have been authorised to say, on behalf of the council of the association, that it is very grateful to the Ministers concerned and to the Government for the passage of the Bill, which it hopes will do all that is expected of it when it reaches the Statute Book.

Question put and agreed to.

Bill accordingly read the Third time and passed, with Amendments.