HC Deb 27 July 1956 vol 557 c781

Resolution reported, That, for the purposes of any Act of the present Session to make new provision as to the functions of the Colonial Development Corporation, it is expedient to authorise—

  1. (a) any increase attributable to that Act in the sums which, in accordance with section seventeen of the Overseas Resources Development Act. 1948 (hereinafter referred to as "the Act of 1948"), may be required to be issued out of the Consolidated Fund, in so far as any such increase—
    1. (i) in the case of sums issued to the Secretary of State for making advances to the said Corporation, does not increase those sums beyond the amount necessary to enable the Secretary of State to make such advances within the limit prescribed by subsection (1) of section twelve of the Act of 1948, and
    2. (ii) in the case of sums issued to the Treasury for fulfilling any guarantee under the Act of 1948 of borrowings of the said Corporation, does not increase those sums beyond the amount required for fulfilling guarantees in respect of such borrowings within the limits prescribed by subsection (3) of section eleven of the Act of 1948;
  2. (b) any increase attributable to the said Act of the present Session in the sums which, in accordance with subsection (3) of section seventeen of the Act of 1948, may be required to be raised by the Treasury, or which in accordance with subsection (1) of section eighteen of the Act of 1948 may be required to be paid into the Exchequer or to be issued out of the Consolidated Fund and applied in redeeming or paying off debt or paying interest;
  3. (c) any increase attributable to the said Act of the present Session in any remission of interest in accordance with section five of the Overseas Resources Development Act. 1954.

Resolution agreed to.