HC Deb 05 August 1914 vol 65 cc2024-5

(1) The Treasury shall, as and when they think fit, issue out of the Consolidated Fund, or the growing produce thereof, such sums as may be required for the purpose of meeting any expenditure which is, in the opinion of the Treasury, of a capital nature and which is incurred with the consent or approval of the Treasury by or on behalf of the Board of Agriculture and Fisheries, the Local Government Board, or the Commissioners of Works for the purposes of this Act, not exceeding in the aggregate, in the case of expenditure incurred by or on behalf of the Board of Agriculture and Fisheries three million pounds, and in the case of other expenditure two million pounds; and any expenses incurred for those purposes by the Board of Agriculture and Fisheries, the Local Government Board, or the Commissioners of Works, not being, in the opinion of the Treasury, of the nature of capital expenditure, shall be defrayed out of moneys provided by Parliament, and any receipts arising in connection therewith shall be paid into the Exchequer.

(2) The Treasury may, if they think fit, for the purpose of providing money for sums so authorised to be issued out of the Consolidated Fund, or for repaying to that Fund any part of the sums so issued, borrow by means of terminable annuities for a term not exceeding thirty years; and all sums so borrowed shall be paid into the Exchequer.

(3) The said annuities shall be paid out of moneys provided by Parliament, and if those moneys are insufficient, shall be charged on and paid out of the Consolidated Fund of the United Kingdom or the growing produce thereof.

(4) The Treasury may also, if they think fit, for the same purpose borrow money by means of the issue of Exchequer bonds, and the Capital Expenditure (Money) Act, 1904, shall have effect as if this Act had been in force at the time of the passing of that Act.

Government Amendment made: Leave out the words "Board of Agriculture and Fisheries, the" ["by or on behalf of the Board of Agriculture and Fisheries, the"].

Consequential Amendments agreed to.

Question, "That the Clause, as amended, stand part of the Bill," put, and agreed to.