HL Deb 13 May 1897 vol 49 cc313-4

, in moving the Second Reading of the Regular and Elders' Widows' Funds Bill, said this, again, was a Bill to set at rest certain legal doubts respecting the vesting in the Secretary of State the surplus funds belonging to this institution. By actuarial calculation it had been discovered that the assets were considerably in excess of the liabilities, and as the object of the fund would in the course of a very short time come to an end, it was deemed advisable that whatever might be left over should be vested in the Secretary of State in Council instead of in the hands of trustees who were under legal disability from transferring them to any other person.

Read 2a (according to Order); and committed to a Committee of the Whole House To-morrow.