HC Deb 03 June 1919 vol 116 c1974

That the Treasury may—

(1) borrow, in such manner as they think fit, on the security of the Consolidated Fund (in addition to any other sums which they are en titled to borrow)—

  1. (a)any sums required for raising the Supply granted to His Majesty for the service of the year ending the thirty-first day of March, nineteen hundred and twenty, up to an amount not exceeding two hundred and fifty million pounds; and
  2. (b)any sums required for repayment of any maturing securities issued under the War Loan Act 3, 1914 to 1918, or of any Treasury Bills or of any Ways and Means advances; and

(2)create securities to be issued to the holders of any securities issued under those Acts, in exchange for those securities; and

(3)in connection with any borrowing or creation of securities in pursuance of this Resolution—

  1. (a) charge on the Consolidated Fund the principal and interest of any securities created in pursuance of this Resolution and any expenses incurred in respect of any such borrowing or exchange of securities; and
  2. (b) charge on the Consolidated Fund such sums as may be required for the purposes of any sinking funds established for the redemption of securities created in pursuance of this Resolution; and
  3. (c) charge on the Consolidated Fund any additional remuneration to the Bank of England or the Bank of Ireland in respect of any sums raised or securities created in pursuance of this Resolution.