HC Deb 08 December 1948 vol 459 c397
That, for the purposes of any Act of the present Session to make provision for the lending of money to be employed in financing the production or distribution of cinematograph films, and to provide for the taking over by a national corporation established for the purpose aforesaid of the assets and liabilities of National Film Finance Company Limited, and for purposes connected with the matters aforesaid, it is expedient to authorise—
- (a) the issue out of the Consolidated Fund of sums required to enable the Board of Trade to make advances to the said corporation within the following limit, namely, that the aggregate amount of the principal outstanding in respect of such advances shall not at any time exceed five million pounds;
- (b) the raising under the National Loans Act, 1939, of any money required for the purpose of providing any sums to be issued as aforesaid or for the replacement thereof;
- (c) the payment into the Exchequer of sums received by the Board of Trade from the said corporation in respect of advances, and the issue of such sums out of the Consolidated Fund and the application of such sums, in so far as they represent principal in redemption or repayment of debt, and in so far as they represent interest in payment of interest otherwise falling to be paid out of the permanent annual charge for the National Debt,
- (d) on the dissolution of the said corporation, the cancellation of the whole or any part of any liability of the said corporation to the Board of Trade;
- (e) the payment into the Exchequer of any sums received after the dissolution of the said corporation in respect of any of the property or rights thereof and the payment out of moneys provided by Parliament of any sums required after the dissolution of the said corporation to defray any liabilities thereof."