§ 60. Mr. Marloweasked the Financial Secretary to the Treasury whether he is aware that the Stamp Office is refusing to stamp mortgages unless furnished with a certificate of Treasury consent or a certificate of exemption; and if he will give instructions for this practice to cease in view of the fact that, under paragraph 4 of Regulation 6 of the Defence (Finance) Regulations, 1939, a security is not invalidated by reason of Treasury consent not having been given or Treasury conditions not complied with.
§ Mr. DaltonI have been asked to reply. The Commissioners of Inland Revenue have been authorised by the Treasury under Regulation 8 to obtain any information required to secure compliance with Regulation 6.
§ Mr. MarloweWill the Chancellor explain under what authority the clerks in the Stamp Office refused to stamp documents which are legally in order, and will he give instructions that that is now to stop, because documents that are valid are entitled to be stamped?
§ Mr. DaltonThe authority is the Defence (Finance) Regulations but very shortly these will be replaced by the Schedule to the Borrowing Act, which has recently become law. The reason for this practice is to prevent evasion of the Capital Issues Control. We have full legal authority, first under the Defence (Finance) Regulations, and now under the Borrowing Act, which His Majesty has approved.