HC Deb 10 June 1947 vol 438 c867
50. Mr. Bossom

asked the Chancellor of the Exchequer when the Exchange Control Act will come into operation; and when the Order will be made authorising the switching between dollar securities.

Mr. Dalton

I hope in August, both for the Act and for switching.

Mr. Bossom

Is it a fact that today switching can be made between dollar securities?

Mr. Dalton

No, Sir, not in an absolute sense. I have answered Questions on this subject before. Perhaps if there is any particular case in which the hon. Gentleman is interested he will communicate with me. We cannot grant complete and unrestricted powers at present.

Mr. Bossom

Would the Minister say whether it is possible today to switch between American and Canadian dollar securities?

Mr. Dalton

No, Sir, it is not possible.