House of Commons debates
Friday, 7 July 1961
- Preamble (0 speeches)
The House met at Eleven o'clock
- Prayers (0 speeches)
[Mr. SPEAKER in the Chair]
- Complaint of Privilege (2 speeches)
- Orders of the Day — TRUSTEE INVESTMENTS BILL [Lords] (0 speeches)
As amended (in the Standing Committee), considered.
- New Clause. — (Certain Valuations to Be Conclusive for Purposes of Division of Trust Fund.) (5 speeches)
(1) If for the purposes of section two or four of this Act or the Second Schedule thereto a trustee obtains, from a person reasonably believed by the trustee to be qualified to make it, a...
- New Clause. — (Power to Modify Provisions as to Division of Trust Fund.) (75 speeches)
5 (1) The Treasury may by order made by statutory instrument direct that, subject to subsection (3) of section four of this Act, any division of trust fund made in pursuance of subsection (1) of...
- Clause 2. — (Restrictions on Widerrange Investment.) (10 speeches)
I beg to move, in page 3, line 3, at the end to insert: ; and paragraph (a) of this subsection shall not include the case of a dividend or interest becoming part of a trust fund". This is a very...
- Clause 3. — (Relationship Between Act and Other Powers of Investment.) (1 speech)
I beg to move, in page 3, line 39, at the end to insert: or(c) by an enactment contained in a local Act of the present Session". Clause 3 (4) provides that where, for example, a local authority...
- Clause 4. — (Interpretation of References to Trust Property and Trust Funds.) (2 speeches)
I beg to move, in page 4, line 26, to leave out subsection (4) and to insert: (4) In the application of this section to Scotland the following subsection shall be substituted for subsection (1)...
- Clause 5. — (Duty of Trustees in Choosing Investments.) (18 speeches)
I beg to move, in page 4, line 37, to leave out from "for" to end of line 41 and to insert: diversification of investments of the trust, in so far as is appropriate to the circumstances of the...
- Clause 6. — (Application of SS. 1–5 to Persons, Other than Trustees, Having Trustee Investment Powers.) (2 speeches)
I beg to move, in page 6, line 6, at the end to insert: (2) Where, in the exercise of powers conferred by any enactment, an authority to which paragraph 9 of Part II of the First Schedule to this...
- Clause 7. — (Application of SS. 1–5 in Special Cases.) (24 speeches)
I beg to move, in page 6, line 27, at the end to insert: (b) any persons (whether trustees or not) whose power to make investments is conferred by or under any enactment other than an enactment...
- Clause 15. — (Short Title, Extent and Construction.) (0 speeches)
Amendment made: In page 9, line 10, leave out "Section" and insert "Sections ten and".—[Mr. Barber.]
- First Schedule. — (Manner of Investment.) (48 speeches)
I beg to move, in page 10, line 27, after "territory" to insert: which at the time of investment is". This is a short point, but not without importance. The First Schedule consists of three Parts...
- Second Schedule. — (Modification of S. 2 in Relation to Property Falling within S. 3 (3)). (4 speeches)
I beg to move, in page 14, line 18, at the end to insert: (c) not being special-range property, accrues to the trustee, after such division as aforesaid, as owner or former owner of special-range...
- Orders of the Day — Roads (Traffic Signs) (5 speeches)
Motion made, and Question proposed, That this House do now adjourn.—[Mr. J. E. B. Hill.]