HC Deb 06 December 1920 vol 135 c1855

(2) Interest on advances under this Section shall be payable at such a rate as the Treasury may from time to time fix or, if the rate applicable to any advance is less than the bank rate for the time being in force, at the bank rate.

Mr. BALDWIN

I beg to move, in Sub section (2), to leave out the words "the rate applicable to" and to insert instead thereof the words, "so long as the rate which shall be fixed by the Treasury in the case of."

The Amendment ensures that in no case shall the advance be made at less than the bank rate which gives effect to what was desired by the right hon. Baronet, the Member for the City (Sir F. Banbury).

Amendment agreed to.

Motion made, and Question, "That the Bill be now read the Third time" put, and agreed to.

Bill read the Third time, and passed.