§ Mr. PYBUSI beg to move, in page 15, line 24, to leave out the word "proportion," and to insert instead thereof the word "portion."
7.21 p.m.
This Amendment and the next two Amendments are necessary in order to cure a defect in the Clause as it stands. The period by reference to which the Sinking Fund contribution is calculated varies according to the nature of the expenditure. Accordingly it would be inaccurate to provide for the Sinking Fund to be divided in the proportion stated in the Clause as printed. The appropriate division is a division by reference to the purpose for which the loan has been applied.
§ Amendment agreed to.
§ Further Amendments made: In page 15, line 25, after the word "as," insert the words "relates to."
§ In line 28, leave out the words "bears to the loan as a whole."—[Mr. Pybus.]