§ 50. Mr. Pethick-Lawrence
asked the Chancellor of the Exchequer whether he will introduce amending legislation to the Trustee Act, 1925, so as to include the loans of the Central Electricity Board among trustee securities?
§ Mr. Pethick-Lawrence
Does not the right hon. Gentleman realise that the distinction between those securities which have trustee status and some of those which have not has to-day become quite unreal, and in particular that by the mere accident of the date of the Trustee Act, such bonds as those of the Central Electricity Board are left outside the provisions of that Act?
§ Sir J. Simon
I do not think that is quite so. The actual position is that the existing stock of the Central Electricity Board was issued without a Treasury guarantee. There seems to be no sufficient reason for legislation to vary the consequential results.