HC Deb 12 July 1923 vol 166 cc1577-8
81. Colonel Sir CHARLES YATE

asked the Financial Secretary to the Treasury whether considering that the British Government has no responsibility for loans issued by the Secretary of State for India under the East India Loans Act, that the Consolidated Fund of the United Kingdom has no liability in respect of loans issued by the Government of India, and that responsibility now rests with the legislative assembly in India, he will state whether the question of treating Indian loans as trustee securities for the future has been taken into consideration?


His Majesty's Government is under no liability in respect of trustee securities as such, whether under the Trustee Act of 1893 or the Colonial Stock Acts; but in any case, they see no reason for amending these Acts so far as stocks issued by the Government of India are concerned.