§ Order of the Day for the Third Reading read.
§ LORD HOBHOUSEMy Lords, the noble and learned Lord the Lord Chancellor, who happens to be absent, has prepared a number of Amendments to this Bill. I have gone carefully through the Bill with reference to these Amendments, and I think it would save your Lordships' and the public time if you would allow me to put them en bloc. Various Amendments agreed to.
§ LORD HOBHOUSEThen, my Lords, upon Clause 26 I ask your Lordships to insert the words—
Upon the application of persons interested in the property held by a trust company as trustee, executor, administrator, or any other fiduciary capacity as mentioned in the Act.My Lords, the reason for the Amend- 672 ment is this: as Clause 26 stood before the House when in Committee, it was stated that it was intended to give to the Board of Trade power to appoint inspectors on the application of any person interested in the trust funds held by the company, and we look upon that as a very valuable safeguard in the administration of these companies. When moving his Amendment, the noble and learned Lord Herschell desired to substitute the four sections of the Companies' Act, 1862, applicable to this matter for the reference to it in the clause of the Bill, but I think he never intended to deprive the Board of Trade of the power of acting upon the application of a person interested in the trust fund; but there seems to have been some misapprehension as to the verbal addition which was then made to the written Amendment. The result was that there has been an entire omission of power to the Board of Trade to act upon the application of persons interested. I desire now to restore that power, and I think everybody will agree that it is requisite.
* LORD BALFOURThere is no doubt, my Lords, that an omission has by some misapprehension been made, and I entirely accept the Amendment.
§ Amendment agreed to.
§ Bill read 3*, and passed, and sent to the Commons.