HC Deb 16 May 1879 vol 246 cc650-1

Order for Committee read.

Bill considered in Committee.

(In the Committee.)

Clauses 1 to 5, inclusive, agreed to.

Clause 6, (Loan to be repaid by annuity).


, in moving, as an Amendment, in page 3, line 19, to leave out from beginning to "provided," in line 29, and insert— Every loan made under the provisions of this Act shall bear interest at the rate of three and a half per centum per annum from the date of each advance to the fifth day of April or the tenth day of October which shall next happen after such advance, and shall be repaid by the payment to Her Majesty of an annual rent-charge of five pounds for every one hundred pounds of such loan from time to time advanced, and so in proportion for any lesser amount, to be pay- able for the term of thirty-five years, to be computed from the first of the said days which shall next happen after the advance in respect of which the rent-charge shall be charged, such rent-charge to be paid by equal half-yearly payments on the fifth day of April and the tenth day of October in every year, the first of such payments to be made on the second of such days which shall happen next after the issue of any such advance in respect of which the rent-charge shall be charged; and in page 3, line 30, after "annual," leave out "sum," and insert "rent-charge;" said, if his proposal were adopted it would bring the Bill into harmony with the Public Works Loans Bill.


said, he had no objection to the insertion of the words, subject to the understanding that he reserved to himself the right to make the Public Works Loans Bill now before Parliament apply, if necessary, to this Bill.

Amendment agreed to.

Clause, as amended, agreed to.

Clause 7 amended, and agreed to.

Remaining clauses agreed to.

Schedule amended, and agreed to.

House resumed.

Bill reported; as amended, to be considered upon Monday next.