§ [SECOND READING.]
§ Order of the Day for the Second Reading read.
§ EARL BEAUCHAMP
My Lords, this is a small Departmental Bill about which I do not think there can be any controversy. The original Railways Act of 1894 enables the Indian railway companies, upon certain conditions, to pay interest on their share capital out of capital during construction. By Section 9 of that Act the duration of it extended only to December 31st, 1905, or to the end of the then next ensuing session of Parliament and no longer, unless Parliament should otherwise determine. It appears desirable to make this Act permanent, and the Bill now before your Lordships has been drawn up with that object. I beg to move that it be read a second time.
§ Moved, That the Bill be now read 2a.—(Earl Beauchamp.)
§ On Question, Bill read 2a, and committed to a Committee of the Whole House To-morrow.