HC Deb 08 March 1967 vol 742 cc1698-9
Mr. MacColl

I beg to move Amendment No. 98, in page 23, line 26, to leave out from 'be' to 'namely' in line 29 and insert: 'any of the following bodies lending in pursuance of powers apart from this Part of this Act'. It may be for the convenience of the House if we consider Amendment No. 99 with this Amendment.

The Amendments are to redraft Amendments which were accepted by both sides in Committee. Their effect was to tidy up the procedure for achieving qualifying status as a lender and to accept those building societies with trustee status, new town development corporations and the Commission for the New Towns, leaving it to the Registrar to decide whether a building society should be given trustee status and therefore become qualified.

Building societies without trustee status and insurance companies and friendly societies would still need to be individually prescribed; that was what we agreed in Committee.

Mr. Channon

I thank the hon. Gentleman for having agreed in Standing Committee to make these Amendments and for having fulfilled his undertaking. We are most grateful for the Government's assistance in this matter. We think this is an improvement to the Bill.

Amendment agreed to.

Further Amendment made: No. 99, in page 23, leave out lines 37 to 39 and insert: (b) building societies designated under section 1 of the House Purchase and Housing Act 1959; (c) such bodies of such of the following descriptions as the Minister may by order prescribe for the purposes of the provision in question, namely— (i) building societies not designated as aforesaid; (ii) insurance companies; (iii) friendly societies;.—[Mr. MacColl.]