§ Considered in Committee under Standing Order No. 69.
§ [Sir DENNIS HERBERT in the Chair.]
That for the purposes of any Act of the present Session to make provision, amongst other matters, for the establishment of a British Overseas Airways Corporation, and to make further and better provision for the operation of air transport services, it is expedient —
A. To charge on the Consolidated Fund any sums required by the Treasury for fulfilling any guarantee of the redemption or repayment of, and the payment of interest on, any stock issued or temporary loan raised by the corporation, being stock or loans the aggregate amount of the principal whereof outstanding at any time (exclusive of amounts borrowed for redeeming stock or paying off a loan) does not exceed ten million pounds.
B. To authorise the payment into the Exchequer of —
C. To authorise the payment out of moneys provided by Parliament of —
Provided that the aggregate amount of the grants to be made under this Resolution in any financial year, when added to the aggregate amount of any subsidies paid in that year under agreements made before the commencement of the said Act in pursuance of Section one of the Air Navigation Act, 1936, as amended by the Air Navigation (Financial Provisions) Act, 1938, shall not exceed four million pounds, and no such grant shall be made after the thirty-first day of December,
nineteen hundred and fifty-three." —(King's Recommendation signified.). —[Sir K. Wood.]
§ Resolution to be reported To-morrow.