HC Deb 23 May 1940 vol 361 cc389-90

Resolution reported, That for the purposes of any Act of the present Session (hereafter in this Resolution referred to as 'the new Act') to make provision for promoting the development of the resources of Colonies, Protectorates, Protected States and Mandated Territories and the welfare of their peoples, and for relieving Colonial and other Governments from liability in respect of certain loans, it is expedient to authorise—

  1. (1) the payment out of moneys provided by Parliament of any sums required for the purpose of schemes made under the new Act for any purpose likely to promote the development of the resources of any Colony, Protectorate, Protected State or Mandated Territory or the welfare of its people, so however that, unless Parliament otherwise determines—
    1. (a) the sums so paid for the purposes of schemes for promoting research or inquiry shall not in the aggregate exceed five hundred thousand pounds in any financial year; and
    2. (b) the sums so paid for the purposes of any other schemes shall not in the aggregate exceed five million pounds in any financial year and no such other scheme shall continue in force after the thirty-first day of March, nineteen hundred and fifty-one;
  2. (2) the payment into the Exchequer of—
    1. (a) any sums received by way of interest on or repayment of the principal of any loan made in pursuance of any such scheme as aforesaid; and
    2. (b) such moneys as may be in the Colonial Development Fund on a day appointed by the Treasury;
  3. (3) the remission of sums amounting in the aggregate to nine million, eight hundred and fifty-five thousand, six hundred and forty-three pounds, nine shillings and nine-pence, being the outstanding balance of the principal of certain loans made out of moneys provided by Parliament, and of all arrears of interest in respect of the said loans;
  4. (4) the amendment of certain schemes made under the Colonial Development Act, 1929, providing for advancing by way of loan sums amounting in the aggregate to 390 one million, one hundred and five thousand, four hundred and thirty-one pounds, six shillings and seven pence, so as to provide—
    1. (a) that so much of the said sums as has not been advanced before the commencement of the new Act may be advanced by way of grant instead of by way of loan; and
    2. (b) that the outstanding balance of the principal of the remainder of the said sums and all arrears of interest in respect thereof shall be remitted;
  5. (5) the amendment of certain other schemes made as aforesaid, providing for advancing by way of loan sums amounting in the aggregate to two hundred and seventy-nine thousand, eight hundred and ten pounds, three shillings and three pence, so as to provide—
    1. (a) that one-half of so much of the said sums as has not been advanced before the commencement of the new Act may be advanced by way of grant instead of by way of loan; and
    2. (b) that one-half of the principal of the remainder of the said sums and all arrears of interest in respect of that half shall be remitted;
  6. (6) the grant out of moneys provided by Parliament of so much of certain sums proposed by the current estimates to be lent out of moneys so provided, amounting in the aggregate to one hundred and sixty-three thousand, five hundred and nine pounds, as has not been advanced before the commencement of the new Act, and the remission of the principal of the remainder of the said sums and all arrears of interest in respect thereof."

Resolution agreed to.

The remaining Orders were read, and postponed.

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