§ 54. Colonel HOWARD-BURYasked the Chancellor of the Exchequer whether, in view of the fact that at the issue of Victory Bonds in 1919 it was stated that these bonds would be accepted at their face value by the Commissioners of Inland Revenue in payment of death duties, provided that the bonds had formed part of the estate of the deceased for a period of not less than six months immediately preceding the date of death and, in view of the fact that such bonds, though fulfilling all the conditions laid down, have been refused, he can state under what authority and since when has the new procedure been adopted?
§ Mr. CHURCHILLThe terms of the prospectus are in all cases fulfilled. Possibly my hon. and gallant Friends refers to the position which arises on the death of a life tenant who has only a part interest in a settled fund. If this is so, I shall be happy to send him a full explanation of the matter.