§ 26. Mr. MAURICE HEALYasked the Chancellor of the Exchequer whether any limits had been fixed by the Treasury under the Purchase of Land (Ireland) Act, 1891, Section 15, Sub-section (2), on the exchange of Guaranteed Land Stock into Consols and, if so, what limits; and whether persons exercising this right of exchange will have the same option of converting Consols into the new War Stock as other holders of Consols.
§ Mr. MONTAGUThe Treasury have already authorised exchanges under Section 15 (2) of the Purchase of Land (Ireland) Act, 1891, to the amount of £8,250,000, and the amount of £8,090,000 Consols has been given in exchange for a similar amount of Guaranteed Land Stock, leaving a balance still available of £160,000. The limit can be raised if required. Any Consols so acquired by exchange by any holder of the new War Loan would be available for conversion, in the same way and subject to the same conditions as any other Consols.