HC Deb 08 February 1945 vol 407 cc2234-58

Resolution reported: That for the purpose of any Act of the present Session to increase the limits imposed by the Export Guarantees Act, 1939, upon the liability which may be undertaken by guarantees given under Section one of that Act, to provide for the giving of guarantees for the purpose of encouraging the participation of the United Kingdom in external trade transactions, and for purposes connected therewith, it is expedient to authorise—

  1. (1) Any increase in the sums payable out of moneys provided by Parliament, and charged, in default of such payment, on the Consolidated Fund, under Section six of the Export Guarantees Act, 1939, or under Section five of the Overseas Trade Guarantees Act, 1939, being an increase attributable to the provisions of the said Act of the present Session—
    1. (a) raising to two hundred million pounds the limit imposed by Sub-section (1) of Section two of the Export Guarantees Act, 1939, upon the aggregate amount of the liability at any time of the Board of Trade in respect of guarantees given under Section one of that Act and under the Export Guarantees Act, 1937, and the enactments repealed by the last mentioned Act;
    2. (b) raising to fifteen million pounds and five million pounds respectively the limits so imposed by paragraphs (a) and (b) of the said Sub-section (1) upon the aggregate amount of such liability in respect of the guarantees therein referred to;
      3. 2258
    3. (c) repealing the restriction imposed by Sub-section (2) of the said Section two upon the liability of the Board of Trade in respect of guarantees given in connection with the execution outside the United Kingdom of works and services in connection with the export of home produced goods, and the corresponding restriction imposed, in relation to guarantees under the Overseas Trade Guarantees Act, 1939, by the proviso to Sub-section (3) of Section one of that Act.
  2. (2) The payment out of moneys provided by Parliament, and, in default of such payment, the charge on the Consolidated Fund, of any expenses incurred by the Board of Trade in connection with guarantees given under the said Act of the present Session for the purpose of encouraging the participation of the United Kingdom in external trade transactions, subject to the following limits, that is to say—
    1. (a) that the aggregate amount of the liability at any time of the Board of Trade in respect of such guarantees shall not exceed the sum of fifteen million pounds; and
    2. (b) that any such liability shall be included in the aggregate amount of the liability of the Board, to which the limit of two hundred million pounds herein-before referred to is applicable.
  3. (3) The application to securities guaranteed under the said Act of the present Session of Section three of the Overseas Trade Guarantees Act, 1939 (which enables the Board to acquire securities guaranteed under the principal Act).
  4. (4) The payment into the Exchequer of any sums received by the Board of Trade in connection with any guarantee given by the Board under the said Act of the present Session, or under the Export Guarantees Act, 1939, or the Overseas Trade Guarantees Act, 1939, as thereby amended.

Resolution agreed to.