§ Order of the Day for the Second Reading read.
§ THE LORD CHANCELLOR (Lord HERSCHELL)My Lords, the object of this brief Bill is to make an Amendment in the Winding-up Acts for the purpose of supplying a defect which experience has proved to exist with regard to the winding-up of Companies. Under the Winding-up Acts there is power to make an order for payment of money by a director guilty of misconduct, or in default; but there is a difficulty in enforcing that by bankruptcy proceedings, which cause delay and sometimes injustice. This Bill proposes simply to remedy that evil.
§ Moved, "That the Bill be now read 2a."—(The Lord Chancellor.)
§ Motion agreed to; Bill read 2a accordingly, and committed to a Committee of the Whole House on Thursday next.