§ [SECOND READING.]
§ Order of the Day for the Second Reading read.
§ THE LORD CHANCELLOR (LORD LOREBURN)My Lords, this Bill is one that has struggled through the House of Commons and merely relates to some small points of trustee law. I am sorry to say that I have not yet had time to examine it so as to be able to give any assurance with regard to it, and if the House will, under those circumstances, give it a Second Reading, I hope to be able to examine it before I proceed with any further stage of the Bill.
§ Moved, That the Bill be now read 2a.—(The Lord Chancellor.)
§ LORD AVEBURYMy Lords, I do not rise for the purpose of offering any opposition to the Second Reading of this Bill, but merely to call attention to two points with regard to which I should be grateful for an explanation from the noble and learned Lord when he has had time to consider the Bill. The first is with regard to Clause 1, which says that it shall be part of the duty of a trustee—
to keep clear and accurate accounts of the trust, and preserve for a reasonable time all vouchers relating thereto, so that the accounts and vouchers may he at all reasonable times ready for production.We all know that, generally speaking, in the case of every trust there are several trustees, and that many of these trusts run on for a great number of years. I have no doubt many of your Lordships are trustees of trusts that have gone on for more than half a century. Of course they are covered by the provisions of this Bill, but new trustees would not be; and what I venture to suggest for the consideration of the noble and learned Lord on the Woolsack is whether it would not be better to say that the duty should be on the first trustee named, so as to make it the duty of one of the trustees only, because it is quite clear that they cannot all keep the accounts and that the vouchers must be in the custody of one person. Probably my noble and learned friend will be able to say, when the Bill conies up again, that the fears which some of us entertain on this point are groundless, and that it is covered by the law as it stands. One other point 1134 with regard to which I would like a word of explanation from the noble and learned Lord at the next stage of the Bill is why the Bill is not to apply to the Public Trustee. There, again, I have no doubt there is good reason for it, but it would, I think, be satisfactory to many of us to know what that reason is. I would, therefore, ask my noble and learned friend to kindly consider those two points before the Bill comes before us at the next stage. I have no doubt that the points have already been considered, and that the words as they appear to a layman do not really carry out the meaning they seem to do, but that they are guarded by the provisions of some other measure.
§ THE LORD CHANCELLORIf my noble friend will be kind enough to confer with me and give me his points in detail I will certainly deal with them at the next stage of the Bill.
§ LORD AVEBURYI am obliged to my noble and learned friend.
§ On Question, Bill read 2a, and committed to a Committee of the Whole House.