HC Deb 15 May 1928 vol 217 cc997-8
997
§
Resolution reported,
That, for the purpose of any Act of the present Session to secure, by means of the formation of a company and the assistance thereof out of public funds, the making of loans for agricultural purposes on favourable terms, and to facilitate the borrowing of money on the security of farming stock and other agricultural assets, and for purposes connected therewith, it is expedient—
- (a) to authorise the payment out of the Consolidated Fund, or the growing produce thereof, of such sums not exceeding eight hundred and twelve thousand five hundred pounds as may be required for making advances to the company to be formed under the said Act, and for procuring the underwriting of debentures or debenture stock to be issued by such company as aforesaid for raising sums not exceeding five million pounds;
- (b) to authorise the payment out of moneys provided by Parliament of sums not exceeding ten thousand pounds a year for ten years as contributions towards the
998
cost of administration of the said company;
- (c) to authorise the payment into the Exchequer of sums paid by the said company by way of repayment of or interest on such advances as aforesaid."