§ 5.19 p.m.
§ Mr. BUTLERI beg to move, in page 231, line 13, to leave out Sub-section (2), and to insert:
(2) The Government of Burma shall credit the Board with interest on the amount from time to time deemed to be owing under sub-section (1) of this section at such rate as may from time to time be agreed between the Government and the Board or as may, in default of agreement be from time to be agreed between the Government and the Board or as may, in default of agreement be from time to time determined by the Governor in his discretion, and any interest so credited shall be treated as an addition to the sum deemed to be owing under the said sub-section.I do not want to mislead the House. This is an Amendment which does not correspond exactly with the Indian Amendment, and therefore I want to give a short explanation with regard to it, in view of the understanding with the House. The Sub-section as it now stands makes it compulsory upon the Government to pay the Railway Board interest on account of the existing railway funds which are deemed to be owing by the Government to the Board. We consider that it would be undesirable to divorce the interest from the capital. If hon. Members will look at the words in the last two lines of the new Sub-section, they will see that those words ensure that the interest in question shall remain to the credit of the fund and earn further interest, and shall not be diverted to any other purpose either by the Government or by the Railway Board. These are the two objects of the Amendment, which is particular to the Burma chapter, and therefore I make special mention of it.
§ Amendment agreed to.