HC Deb 08 April 1957 vol 568 c823

Resolution reported, That, for the purposes of any Act of the present Session to amend the Export Guarantees Acts, 1949 to 1952, it is expedient to authorise—

  1. (a) any increase attributable to the provisions of that Act—
    1. (i) raising to two hundred and fifty million pounds the limit of one hundred and fifty million pounds imposed by subsection (2) of section two of the Export Guarantees Act, 1949, as amended, in respect of guarantees under that section,
    2. (ii) extending the power of the Board of Trade under the said section two, so far as that power is exercisable for the purpose of rendering economic assistance to countries outside the United Kingdom, by authorising the making of arrangements for facilitating payments under contracts with persons carrying on business in the United Kingdom or companies directly or indirectly controlled by such persons;
    in the sums which, under section three or section four of the said Act of 1949 are to be or may be paid out of moneys provided by Parliament, charged on or issued out of the Consolidated Fund, raised by borrowing or paid into the Exchequer; and
  2. (b) the payment out of moneys provided by Parliament of sums representing the excess of
    1. (i) interest payable into the Exchequer under section three of the said Act of 1949 on sums paid into the Acquisition of Guaranteed Securities Fund for the purpose of acquiring securities created under arrangements made before the first day of April, nineteen hundred and fifty-six; over
    2. (ii) interest collected on such securities.

Resolution agreed to.