§ (1) The Old Sinking Fund for the financial year ending the thirty-first day of March, nineteen hundred and eleven, as calculated under Section nineteen of the Revenue Act, 1911, shall, notwithstanding anything in the Sinking Fund Act, 1875—
- (a) to the extent of one million five hundred thousand pounds, be issued and paid by the Treasury at such times as they direct to the development fund under the Development and Road Improvement Funds Act, 1909, in lieu of the sums to be issued out of the Consolidated Fund under Sub-section (2) of Section two of that Act in the years ending the thirty-first day of March, nineteen hundred and thirteen, nineteen hundred and fourteen, and nineteen hundred and fifteen respectively; and
- (b) to the extent of one million five hundred thousand pounds, be issued by the Treasury at such times as they direct, and carried by the Treasury to a separate account, and made available in such manner as Parliament may determine for the purposes of the provision of sanatoria and other institutions for the treatment of tuberculosis, or such other diseases as the Local Government Board, with the approval of the Treasury, may appoint; and
|Session and Chapter.||Short Title.||Extent of Repeal.|
|42 & 43 Vict., c. 21||The Customs and Inland Revenue Act, 1879.||Section three.|
|9 Edw. 7, c. 47||The Development and Road Improvement Funds Act, 1909.||Sub-section (2) of Section two, as from the thirty-first day of March nineteen hundred and twelve.|
|10 Edw. 7, c. 8||The Finance (1909–10) Act, 1910.||In Section fifty-two the definition of "premises."|
§ Amendments made:—
§ At the beginning of the Schedule, insert,
|6 Geo. 4, c. 81.||The Excise Licences Act, 1825.||Section twenty-four.|
§ (c) to the extent of two hundred and fifty thousand pounds, shall be issued by the Treasury at such times as they may direct for the purpose of the advance authorised by this Act to the Government of the East Africa Protectorate.
§ (2) The Treasury may advance by way of loan to the Government of the East Africa Protectorate for the purpose of providing improved railway communication and harbours in the Protectorate, and improved water supply for Mombasa any sums not exceeding in the whole two hundred and fifty thousand pounds.
§ The Government of the Protectorate shall annually, until the whole advance is deemed to have been repaid, pay to the Treasury interest at the rate of three and a half per cent. on the amount advanced, and also, by way of sinking fund, a further sum equal to one per cent. on the amount advanced, and the whole of the advance shall be deemed to have been repaid when sinking fund payments have been made sufficient, if accumulated at three and a half per cent. with yearly rests, to produce an amount equal to the advance.
§ Any sums paid on account of the principal or interest of the advance shall be paid into the Exchequer, and issued to the National Debt Commissioners, and shall be applied by them in like manner as the Old Sinking Fund.
§ Amendment made: In paragraph (b), after the word "Board" ["such other diseases as the Local Government Board "], insert the words "or as respects Scotland, the Local Government Board for Scotland, or as respects Ireland, the Local Government Board for Ireland."—[Mr. McKinnon Wood.]
§ At the beginning of the line in the third column ["In Section fifty-two"], insert, "Sub-section (3) of Section forty-nine."
§ Bill to be read the third time to-morrow (Wednesday).