LXV

1.—6

So it was resolved in the affirmative. On the motion of Mr. Guinness, Resolved, to insert, after "Companies Act," the words "which requires the liquidators to obtain an order from the Supreme Court before they can compromise any account." Moved by Mr. Guinness, To strike out the last sentence. Upon the question being put, it passed in the negative. Upon the question, "That the paragraph as amended be agreed to," a division was called for, and the names were taken down as follow :— Ayes, s.—Mr. Graham, Mr. Guinness, Hon. Mr. McKenzie, Hon. Mr. Seddon, Hon. Major Steward. Noes, s.—Mr. Hutchison, Mr. Maslin, Mr. McGowan, Mr. Montgomery, Mr. Tanner. The votes being equal, the Chairman gave his casting-vote with the Ayes. So it was resolved in the affirmative. Paragraph agreed to. Colonial Bank. Paragraph 1 agreed to. Paragraph 2. Mr. Guinness moved to strike out the paragraph. On the question being put, " That the words proposed to be struck out be retained," a division was called for, and the names were taken down as follow: — Ayes, s.—Mr. Graham, Mr. Maslin, Mr. McGowan, Mr. Montgomery, Mr. Tanner. Noes, s.—Mr. Guinness, Mr. G. Hutchison, Hon. Mr. McKenzie, Hon. Mr. Seddon, Hon. Major Steward. The votes being equal, the Chairman gave his casting vote with the Ayes. And so it was resolved in the affirmative. Paragraph agreed to. Directors and Officers, Bank of New Zealand. Mr. Tanner moved to insert after "bank," in third line, the words "whose conduct at that time ought to have been made the subject of criminal proceedings in the interests of that institution." The question being put that the word " whose " be inserted, a division was called for, and the names were taken down as follow:— Ayes, 4.— Mr. Guinness, Mr. Maslin, Hon. Mr. McKenzie, Hon. Mr. Seddon, Noes, 6.—Mr. Graham, Mr. G. Hutchison, Mr. McGowan, Mr. Montgomery, Hon. Major Steward, Mr. Tanner. So it passed in the negative. Mr. Montgomery moved to insert the word "directors' " before the word "conduct," in Mr. Tanner's motion. The Chairman ruled it could not be put. The remainder of Mr. Tanner's motion was then put and agreed to. On the motion of the Hon. Major Steward, Resolved, to strike out " whose," in ninth line, and insert the word " the " in lieu thereof, and after the word " value " insert the words " of which." Hon. Mr. McKenzie moved, and it was Resolved, To insert, after the word "condemn," the words " and that it should be a direction to the board of directors that the officers responsible should not be continued in the service of the bank." On the motion of Mr. Montgomery, Resolved, to strike out the words " the above remarks do not apply to " and " who," in tenth line. Resolved, on the motion of Mr. Montgomery, to strike out all the words after " that" in the last sentence, with a view of inserting the words, " the law preventing directors from having overdrafts in the bank should be extended to officers." Resolved, on the motion of the Hon. Mr. McKenzie, to add to the foregoing the following words : " and to companies the directors of which are also directors of the Bank of New Zealand." Paragraph recommitted with the view of inserting, before the words of the motion of Mr. Tanner, "conduct, &c," the words, "the Committee are further of the opinion that the," and, after the word " conduct," the words "of the directors." Agreed to. Hon. Mr. McKenzie moved to insert, after " directors," the words " and the executive officers," and upon the question being put a division was called for, and the names were taken down as follow :— Ayes, B.—Mr. Graham, Mr. Guinness, Mr. Maslin, Hon. Mr. McKenzie, Mr. Montgomery, Hon. Mr. Seddon, Hon. Major Steward, Mr. Tanner. No, I.—Mr. Hutchison. So it was resolved in the affirmative. Mr. Montgomery moved to strike out the words "made the subject of criminal proceedings," with a view to inserting "inquired into with a view to criminal proceedings." On the question being put, " That the words proposed to be struck out remain part of the question," a division was called for, and the names were taken down as follow:— Ayes, 7. —'Mr. Graham, Mr. Guinness, Mr. Maslin, Hon. Mr. McKenzie, Hon. Mr. Seddon, Hon. Major Steward, Mr. Tanner. Noes, 2.—Mr. Hutchison, Mr. Montgomery. So it was resolved in the affirmative. Words retained ; paragraph as amended agreed to. ix—l. 6.