§ Order of the Day for the Second Reading, read.
§ THE EARL OF MEATHsaid, that the object of the Bill was to reduce the number of Directors of the Bank of Ireland, who were elected by the members of that Corporation, from 15 to 13 or 11, as the members might think fit, exclusive, as at present, of the Governor 1516 and Deputy Governor. At present not more than two-thirds of the Directors of one year were re-eligible for the next. The Bill proposed that the retiring Directors should not be disqualified for re-election. The Bill also proposed to reduce the quorum necessary to constitute a court from 8 to 7 if the number of Directors should be reduced to 13, or to 6 if reduced to 11, and also to change the rule requiring that retiring Directors should remain out of office for a year before being eligible for re-election.
§ Moved, "That the Bill be now read 2a."—(The Earl of Meath.)
§ LORD REDESDALEsaid, that while he intended to offer no opposition to the Bill, he desired to say that he doubted whether it was advisable to change the rule requiring retiring Directors to remain out of office for a year. Such a rule prevailed in the Bank of England, and it enabled a board to let any retiring Director whom it might not be desirable to re-elect drop out without offence. The provision enabling the members to reduce the number of Directors might, perhaps, prove useful.
§ VISCOUNT HALIFAXsaid, he concurred with what been said by the noble Lord the Chairman of Committees.
§ Motion agreed to; Bill read 2a accordingly, and committed to a Committee of the Whole House To-morrow.