HC Deb 13 December 1945 vol 417 c749

Considered in Committee under Standing Order 69.

[Major Milner in the Chair]

Resolved: That for the purposes of any Act of the present Session to enable effect to be given to certain international agreements for the establishment and operation of an International Monetary Fund and an International Bank for Reconstruction and Development, and for purposes connected with the matters aforesaid, it is expedient to authorize—

  1. (a) the payment out of the Consolidated Fund of any subscriptions, compensation or other sums payable to, or to the members of, the said International Fund (hereinafter referred to as "the Fund ") or the said International Bank (hereinafter referred to as "the Bank ") under the said agreements and of any sums required for implementing any guarantee of the assets of the Fund against loss resulting from failure or default of a depository designated by His Majesty's Government in the United Kingdom under the first of the said Agreements, and the raising of money under the National Loans Act, 1939, for the purposes of providing the sums paid as aforesaid;
  2. (b) the payment into the Exchequer of any sums received by His Majesty's Government from the Fund or the Bank (other than sums received by reason of the operations of the Exchange Equalisation Account);
  3. (c)the payment out of the Consolidated Fund of sums paid into the Exchequer under the last preceding paragraph, and the application of the sums so issued in redemption or repayment of debt, or, in so far as they represent interest, in payment. of interest otherwise payable out of the permanent annual charge for the National Debt;
  4. (d)the payment out of the Consolidated Fund of any sums falling to be paid there from into the Exchange Equalisation Account by reason of any provision of the said Act authorising the payment out of the said Account of any charges payable to the Fund; and
  5. (e)the payment out of the Consolidated Fund of any sums payable under any notes or other obligations created and issued to the Fund or the Bank under the said agreements.—(King's Recommendation signified.)—[Mr. Dalian.]

Resolution to be reported Tomorrow.