HC Deb 19 November 1948 vol 458 c793

Considered in Committee under Standing Order No. 84 (Money Committees).—(King's Recommendation signified.)

[Mr. BOWLES in the Chair]

Resolved: That, for the purposes of any Act of the present Session to authorise the Treasury to guarantee certain loans by the International Bank for Reconstruction and Development to the Governments of colonial territories, it is expedient to authorise—

  1. (a) the guarantee by the Treasury of the principal of and the interest on any such loan, so, however, that the amount of the principal of the loans so guaranteed shall not in the aggregate exceed the equivalent of fifty million pounds;
  2. (b) the charge on and issue out of the Consolidated Fund of any sums required by the Treasury for fulfilling any such guarantee;
  3. (c) the payment into the Exchequer of any sums received by way of the repayment of any sums so issued."—[Mr. Rees Williams.]

Resolution to be reported upon Monday next.