HC Deb 13 February 1939 vol 343 cc1450-1

Resolution reported, That, for the purpose of any Act of the present Session to authorise the Treasury to repay to the Bank of England sums advanced by that Bank to the National Bank of Czecho-slovakia together with interest thereon and to enable effect to be given to two agreements copies whereof were laid before this House on the thirty-first day of January nineteen hundred and thirty-nine, namely:—

  1. (a) an agreement (in this Resolution referred to as 'the first agreement') made between His Majesty's Government in the United Kingdom and the Government of the Czecho-Slovak Republic; and
  2. (b) an agreement (in this Resolution referred to as 'the second agreement') made between His Majesty's said Government, the Government of the French Republic and the Government of the Czecho-Slovak Republic;
it is expedient to authorise—
  1. (i) the repayment to the Bank of England out of the Consolidated Fund of sums amounting to ten million pounds advanced by that Bank to the National Bank of Czecho-Slovakia together with interest thereon at the rate of 1 per cent., per annum;
    2. 1451
  2. (ii) the raising of money and the creation and issue of securities in connection with the repayment aforesaid, so that any such securities shall be deemed for all purposes to have been created and issued under Sub-section (1) of Section I of the War Loan Act, 1919;
  3. (iii) the release of the Government of the Czecho-Slovak Republic from any liability under Article 1 of the first agreement in respect of the sum of four million pounds;
  4. (iv) the issue out of the Consolidated Fund of any sums required by the Treasury for fulfilling a guarantee given by them in pursuance of the second agreement in respect of a loan to be raised by the Government of the Czecho-Slovak Republic, and the payment into the Exchequer of any sums received by way of repayment of any sums so issued;
  5. (v) the payment into the Exchequer of any sums received in pursuance of Article 3 of the first agreement, and the application of any sums so paid into the Exchequer in redeeming or paying off debt."