HC Deb 28 January 1937 vol 319 cc1197-8

Resolution reported, That it is expedient—

  1. (a) to authorise the Secretary of State to borrow in sterling on behalf of the Governor-General of India in Council by the issue of securities charged on Indian revenues, so however that the nominal amount outstand- 1198 ing of the securities so issued and the securities issued under former enactments relating to sterling borrowings by the Secretary of State in Council of India shall not at any time exceed three hundred and twenty million pounds;
  2. (b) to repeal and reproduce with modifications and adaptations enactments relating to certain financial obligations of the Secretary of State in Council (including obligations with respect to sinking funds), and otherwise to amend the law in relation to certain of those obligations, and to make other provision for purposes connected with the matters aforesaid;
  3. (c) to make provision for the payment out of Indian revenues of the expenses incurred by the Secretary of State under this Resolution or otherwise in relation to India stock."

Resolution agreed to.

Bill o0dered to be brought in upon the said Resolution by Mr. Butler, the Solicitor-General and Lieut.-Colonel Colville.