LIMITATION OF DIVIDENDS.

HC Deb 30 April 1940 vol 360 cc534-5

48. Mr. J. Wilmot

asked the Chancellor of the Exchequer whether the limitation of dividends will apply to the main line railways?

Sir J. Simon

The provisions of the Bill to be introduced will apply to railway main line companies in common with other public companies.

53. Sir Irving Albery

asked the Chancellor of the Exchequer whether, when introducing the Limitation of Dividends Bill, he will have regard not only to the amount of dividend paid during the standard period, but also to the amount of the net earnings of the company concerned during the standard period?

Sir J. Simon

The standard period will cover three accounting years and I do not think that, consistently with the object of the Bill, I can make provision for taking into account the net earnings of the company. As I have already explained there will, however, be machinery for the consideration of exceptional cases.