HC Deb 12 April 1920 vol 127 c1478

3. Save as hereinafter provided the company shall not redeem out of revenue any preference or debenture stock so created and issued as aforesaid, but the company may, if they think fit, at any time during a period of ten years from the creation and issue of any such preference or debenture stock redeem out of revenue to an amount to be approved by the Board of Trade, any such stock created and issued for the purpose of defraying abnormal reparation expenditure due to circumstances arising out of the present War, and such redemption may be effected either by way of the re-payment by annual instalments of the said sum, or by way of a sinking fund calculated to pay off the same at the expiration of the period aforesaid.

Amendment made: Leave out the words Board of Trade ["approved by the Board of Trade"] and insert instead thereof the words "appropriate Government Department. "—[Mr. Bridgeman.]

Bill to be read the Third time Tomorrow.