§ Schedule, page 7, line 15, leave out from ("that") to ("with") in line 19, and insert: "the rules of a fund may provide for the deposit of such moneys with a bank, and may also provide for their deposit."
§ Schedule, page 7, line 22, leave out from ("established") to the end of line 23, and insert:
§ "in the following cases, that is to say—
- (a) where the rules so provided before the ninth day of November, nineteen hundred and twenty-seven;
- (b) where the deposit of such moneys is authorised subject to the conditions that every employer with whom such moneys are deposited must be a body corporate having during each of the ten years last past before the date of any deposit paid a dividend or interest at a rate of not less than 3 per cent. on its ordinary shares, and that every such deposit must be secured by a charge on the whole or part of the assets of the undertaking carried on by such employer."
§ THE LORD CHANCELLORThere are two Amendments to the Schedule, the first to leave out some words and insert: "the rules of a fund may provide for the deposit of such moneys with a bank, and may also provide for their deposit," and the second to leave out certain words at the end of the paragraph and insert new paragraphs (a) and (b). That is evidently to secure that the deposit shall be forthcoming when required. I beg to move that the House doth agree with these two Amendments.
§ Moved, That this House doth agree with the Commons in the said Amendments.—(The Lord Chancellor.)
§ On Question, Motion agreed to.