HC Deb 24 June 1935 vol 303 cc919-20

Resolution reported, That, with a view to enabling effect to be given to an agreement made on the twentieth day of June, nineteen hundred and thirty-five, between the Treasury, the London Passenger Transport Board, the Great Western Railway Company, and the London and North Eastern Railway Company, a copy of the terms whereof was laid before this House on the eighteenth day of June, 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 forty million pounds;

  1. (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 so issued;
  2. (c) to exempt the said agreement, and other agreements mentioned in sub-paragraph (b) of clause 2 of the said agreement, from stamp duty;
  3. (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. Duff Cooper.