Act of Parliament of the United Kingdom
United Kingdom legislation
The Metropolitan Board of Works (Loans) Act 1869 (32 &amp; 33 Vict. c. 102) was an act of the Parliament of the United Kingdom that consolidated and amended enactments relating to the ability of the Metropolitan Board of Works to borrow money. The act created one consolidated stock charged on all securities raised by the Metropolitan Board of Works and established one fund for doing so.
Background.
The Metropolitan Board of Works was authorised by various acts to borrow money, and had incurred debts of £ under those acts by 1869.
It was necessary for the Metropolitan Board of Works to borrow a further £.
Passage.
On 23 June 1869, the Committee on Board of Metropolitan Board of Works (Loans) in the House of Commons was appointed. The Committee met and reported on 24 June 1869, resolving to that:
The Metropolitan Board of Works (Loans) Bill had its first reading in the House of Commons on 26 June 1869, presented by Acton Smee Ayrton . The bill had its second reading in the House of Commons on 20 July 1869 and committed to a select committee, which reported on 23 July 1869, with amendments. The amended bill and was committed to a committee of the whole house, which met on 31 July 1869, and 2 August 1869, and reported on 3 August 1869, with amendments. The amended bill had its third reading in the House of Commons on 4 August 1869 and 5 August 1869, during which a Motion to re-commit the bill to a committee of the whole house was defeated. The amended bill passed, without amendments. 
The bill had its first reading in the House of Lords on 6 August 1869. The bill had its second reading in the House of Lords on 7 August 1869 and was committed to a committee of the whole house, which met and reported on 9 August 1869, without amendments. The bill had its third reading in the House of Lords on 10 August 1869 and passed, with amendments.
The amended bill was considered and agreed to by the House of Commons on 10 August 1869.
The bill was granted royal assent on 11 August 1869.
Provisions.
Repealed acts.
Section 50 of the act repealed 21 enactments, listed in the third schedule to the act. Section 50 preserved existing securities, rates and charges and protected all pre-existing rights, actions and proceedings from being affected by the repeal.
Legacy.
Courtenay Ilbert described the act as a Consolidation Act, given that the act, which amended the borrowing powers of the Metropolitan Board of Works, also consolidated various enactments relating to that particular branch of law.
The act was wholly repealed by the London County Council (Finance Consolidation) Act 1912 (2 &amp; 3 Geo. 5. c. cv), which consolidated and repealed the Metropolitan Board of Works Loans Acts 1869 to 1871 and the London County Council (Money) Acts 1875 to 1912.
References.
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