§ 4 After Clause 5, insert the following new clause:
- (a) section 5 (factor to lodge monies in one of the banks of Scotland) shall be amended as follows—
- (i) for the words "fifty pounds" in both places where they occur there shall be substituted the words "five hundred pounds"; and
- (ii) that section as amended by sub-paragraph (i) above shall be subsection (1) of that section, and after that subsection there shall be added the following subsections—
- "(2) The Secretary of State may by order made by regulations amend subsection (1) above by substituting for any sum for the time being specified in that subsection such other sum as appears to him to be justified by a change in the value of money.
- (3) The power to make regulations under subsection (2) above shall be exercisable by statutory instrument; and no such regulations shall be made unless a draft of them has been approved by resolution of each House of Parliament."; and
- (b) in section 19 (accountant to make requisitions and orders on the factor) for the words "forty-eight hours" there shall be substituted the words "seven days".'
§ Lord MACKAY of CLASHFERN
My Lords, I beg to move that this House doth agree with the Commons in their Amendment No. 4. Amendment No. 4 introduces another new clause. The purpose is to increase the amount of cash which a judicial factor is entitled to retain in his hands for day-to-day expenses, and to lengthen the period within which a factor may lodge objections to any requisition or order made upon him by the accountant of court. The clause was introduced during the Commons Committee stage. It replaced a clause which had been tabled by the Opposition, in which the Government made certain drafting changes. Again, this seems a 1888 worthwhile improvement on the existing law on the subject. My Lords, I beg to move.
§ Moved, That the House doth agree with the Commons in the said amendment.—(Lord Mackay of Clashfern.)