§ Order of the Day for the Third Reading read.
§ THE MARQUESS OF SALISBURYMy Lords, I beg to move that the Bill be read a third time.
§ Moved, That the Bill be now read 3a.—(The Marquess of Salisbury.)
§ LORD HUNSDON OF HUNSDON, who had on the Paper an Amendment to move, after paragraph (a) of subsection (5) of Clause 90 (Loans to public utility societies), to insert: "Provided that the Public Works Loans Commissioners shall, in any such case, require in addition to a mortgage of any land or dwellings a further security of such value as they may think fit," said: My Lords, my reason for placing this Amendment on the Paper is that I happen to be Chairman of the Public Works Loans Commissioners who make advances under these Acts. In their opinion a matter has been introduced into this Consolidation Bill which has no place in any of the existing Acts. Therefore, although the Bill is of no particular interest to the Commissioners, it was my duty to give information to your Lordships upon the point. The public Works Loans Commissioners are a body of men who make these advances and whose duty it is to 624 make themselves fully acquainted with all the provisions of these Acts. As your Lordships will observe, this is an entirely legal matter. I wrote, therefore, to the noble and learned Viscount the Lord Chancellor and placed my views before him, and before proceeding with this Amendment I should very much like to hear what his views are on the matter.
§ THE LORD CHANCELLORMy Lords the point which the noble Lord very courteously raised with me was that as the Consolidation Committee had framed the Bill it was not entirely in agreement with the law as it exists. I made inquiries and I found that the Consolidation Committee had considered the matter very carefully last year when a similar Bill was introduced into Parliament, and again this year. They had also taken expert evidence on the point, and in their considered opinion the Bill as it now comes before your Lordships represents the law as it stands. I have also considered the point, and I am bound to say that, although the question raised by the noble Lord was no doubt one that might fairly be mentioned to your Lordships, I think the Committee have come to the right conclusion. That being so, I hope the noble Lord will not move the Amendment which he has placed on the Paper.
§ LORD HUNSDON OF HUNSDONIn those circumstances, my Lords, I shall not move the Amendments of which I gave Notice.
§ On Question, Bill read 3a.
§ Amendments proposed by the Joint Committee on Consolidation Bills agreed to.
§ Bill passed, and sent to the Commons.