HC Deb 28 July 1947 vol 441 cc190-1
Sir S. Cripps

I beg to move, in page 16, line 28, to leave out "money lent," and to insert: the purposes of a transaction entered into. Subsection (3) provides that in determining whether one company is the subsidiary of another, there is to be disregarded the shares held by a bank as security for money lent. It was pointed out that those words were narrow, as shares may be pledged not only for money lent, but in connection with other commercial transactions, and, therefore, we propose that this Amendment, and similar consequential ones, as suggested by another place, should be included.

Amendment agreed to.

The Solicitor-General

I beg to move, in page 16, line 36, to leave out from "which" to "right," in line 37, and to insert: neither as respects dividends nor as respects capital, carries any. This is a drafting Amendment to clear up an obscurity to which attention was called in Committee.

Amendment agreed to.