HC Deb 08 May 1883 vol 279 cc317-8

Considered in Committee.

(In the Committee.)

1. Resolved, That it is expedient to authorise the conversion, from time to time, of Perpetual Annuities held by the Commissioners for the Reduction of the National Debt, on account of Trustee and Post Office Savings Banks, into Terminable Annuities, and to provide for the payment of such Terminable Annuities out of the Consolidated Fund.

2. Resolved, That it is expedient to authorise the conversion of an amount of Perpetual Annuities standing to the account of the Postmaster General, on behalf of the Court of Chancery, not exceeding, in the whole, forty million pounds capital stock, into Terminable Annuities, and to provide for the payment, out of the Consolidated Fund, of any loss that may arise by means of the conversion of Perpetual into Terminable Annuities, and to provide for the payment of such Terminable Annuities out of the Consolidated Fund.

3. Resolved, That it is expedient to authorise the exchange of a portion of Annuities, terminating in the year 1885, for longer Terminable Annuities, and to provide for the payment of such Terminable Annuities out of the Consolidated Fund, and also to extend the period for which a Terminable Annuity maybe granted under "The Savings Bank Act, 1863."

4. Resolved, That it is expedient to redeem a portion of the Terminable Annuity created under "The Indian Loan Act, 1881," and held by the National Debt Commissioners, on account of Post Office Savings Banks, by the payment, out of the Consolidated Fund, of one million pounds to the said Commissioners.

5. Resolved, That it is expedient to make provisions as to the conversion, creation, and application of Terminable Annuities.

Resolutions to be reported To-morrow.

Forward to