HC Deb 05 May 1924 vol 173 c40
71. Sir F. WISE

asked the Chancellor of the Exchequer if the Council of Administration of the Ottoman Debt, which was set up in 1881 by the Decree of Moharram, will cease to exist; if not, what revenues will be assigned to it; and what will be the amount it will administer?


Under Article 56 of the Treaty of Lausanne, the Council of the Administration of the Ottoman Public Debt shall no longer include delegates of the German, Austrian and Hungarian bondholders but in other respects its constitution is not altered. The rights of the Council in respect of the revenues in Turkey assigned to it by the Decree of Moharram are not affected by the Treaty. It will also be entitled to the security assigned to it under Article 48 of the Treaty of Lausanne by the States, other than Turkey, among which the Ottoman Public Debt is distributed. Until the Treaty has come into force, and effect has been given to its provisions, it is impossible to state what will be the amount of these assigned revenues.