69. Mr. Norman Smith
asked the Chancellor of the Exchequer whether he is aware that the Trading with the Enemy Act and Defence (Finance) Regulations, covering the transfer of bearer securities, apply to temporary documents such as letters of rights and allotment letters, involving much labour for bankers, members of the Stock Exchange and others and using much paper; and will he either relax the regulations so far as temporary documents are concerned, or amend Regulation 3A of the Defence (Finance) Regulations (Fifth Edition) of 14th October, 1942, to exclude renounceable allotment letters and letters of rights from the definition of bearer securities.
§ Mr. Dalton
I have already made administrative arrangements on the lines suggested by my hon. Friend to treat transfers of these temporary documents on the same footing as registered securities, thereby effecting the desired saving of labour and paper.