§
Resolution reported,
That, with a view to enabling effect to be given to an agreement made on the thirtieth day of November, nineteen hundred and thirty-five, between the Treasury, the Great Western Railway Company, the London Midland and Scottish Railway Company, the London and North Eastern Railway Company, and the Southern Railway Company, a copy whereof was laid before this House on the third day of December, nineteen hundred and thirty-five, it is expedient—
(a) to authorise the Treasury to guarantee the payment of the principal and interest of securities to be issued by the company to be formed in pursuance of Clause 3 of the said agreement:
Provided that the amount of the principal of the securities to be so guaranteed shall not in the aggregate exceed an amount sufficient to raise twenty-six million five hundred thousand pounds;
(b) to authorise the issue out of the Consolidated Fund of any sums required for fulfilling the said guarantee and the payment into the Exchequer of any moneys received by way of repayment of any sums SQ issued;
(c) to exempt the said agreement and other agreements mentioned in paragraph (b) of Clause 2 of the said agreement from stamp duty;
(d) to make certain provisions ancillary to the matters aforesaid.
§ Bill ordered to be brought in upon the said Resolution by the Chancellor of the Exchequer, Mr. Hore-Belisha and Mr. W. S. Morrison.