New Clause. — (Repeal of s. 36 of 8 and 9 Geo. V, c. 15.)

Part of Orders of the Day — Finance Bill. – in the House of Commons on 8th July 1924.

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Photo of Mr William Graham Mr William Graham , Edinburgh Central

From the practical experience of Members of the Committee, there is a difference of opinion, not confined to one part of the House, as to the way in which this Section in the Act of 1922 works out. My own impression of the distribution has always been that there is adequate safeguard in the proviso to the main part of the Act of 1922, that part which I quoted earlier in the Debate, which indicates that regard must be had not only to the current needs of the company's business, but also to such other requirements as may be necessary or advisable for the maintenance and development of that business. As I said earlier, if hon. Members will agree to withdraw their Clause, I will undertake to consult with them between now and the Deport stage, subject to the condition that there must be no weakening of this Section from the point of view of the safeguards against the one-man companies. On that basis, it is a matter which we might clearly discuss. Perhaps my hon. Friend will withdraw the Clause.