§ Order of the Day for the House to be put into Committee, read.
§ Moved, "That the House do now resolve itself into Committee upon the said Bill."—(The Earl of Crawford.)
§ THR LORD CHANCELLOR (Lord HALSBURY)observed, that it appeared to him to be a somewhat serious Bill, as attempting by a side wind to evade the provisions of the Companies Act of 1862. He would not object to the Motion to go into Committee, but would reserve liberty to himself to limit the application of the measure, so that it should give relief only in cases when persons had acted in a valid and honest manner. In his opinion the Bill, as it stood, would have too sweeping and general an effect.
THE EARL OF CRAWFORDremarked, that it had been pointed out to him that the words in Clause 2 would go almost beyond the Preamble of the Bill, and, therefore, he thought it would be to the interests of all parties, especially after what had fallen from the Lord Chancellor, if he were to postpone the present stage of the Bill, so that further time should be given for the consideration of Amendments.
§ LORD FITZGERALDsaid, he considered the Bill unsound in principle, and one which the House ought not to assent to. If passed in its present form, it would cover and give legal validity 1634 to a great number of transactions which might be of a very fraudulent character.
§ Motion (by leave of the House) withdrawn.