IN THE COUNCIL.

Otago Witness, Issue 2167, 5 September 1895, Page 22

IN THE COUNCIL.

The B*nk of New Zaalund and Banking Bill occupied the attention of the Legislative Council yesterday from 11 a.n». until 1 o'clock on Tuesday morning, when it wrs finally passed. Several amendments were made in Committee, the most important being the striking out of the proviso which made any contracb for the purchase ot another institution subject to parliamentary sanction. The Council substituted for this the original provision for the corsent of the QoverDor-in«Council, The cl&uee applicable to all banks which prohibited the holding of land takon over in payment of a debt for more than three years was also struck out.

The bill was read a second time by 25 to 4.

The following is the division list :—

Atbs (25).— Merara M'Culloußh, Baillie, Whitmore, Sonar, Barmcoat, Bolt, Swanson, Phtrazyn, Williams, Kelly, Jsnkinson, Walker, Feldwick, Aclaud, Steveiu, Ormond, Bowen, Johnston, Grace, M'Lean, Pollen, Holmes, Montß*>nw-ry, Buckley. Nobs (4).— Messrs Reynolds, Shrimski, Rigg, MacUregor.

THB THIRD BBA.T>IKG PASSED

The third reading wtw moved at 1 o'clock by the Hon. Sir P. BUCKLBY, and after some remarks by tb* Hon. Mr KELLY, was agreed to ou-ihe voices.

The bill then paseeJ.

While the Ceuncil was bu«y over the bill, the members of tbe Huubs of Representative* were kept awaiting tbe Mtarn of the menaure in order to ceoaider the aaseodinetits. As the Premier intimated ihat U wan intended to disagree % ith some of these it was finally agreed to s.djO'- \\ until 10 o'clock this morning, and before '-■•! it is p/obable the bill will become an act r.ad be iv operation.