HC Deb 28 January 1958 vol 581 c278

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

[Sir CHARLES MACANDREW in the Chair]

Resolved, That, for the purposes of any Act of the present Session to increase the sums which may be borrowed by the Colonial Development Corporation or advanced to them by the Secretary of State, it is expedient,—

  1. (a) to authorise the following consequences of raising from one hundred to one hundred and fifty million pounds the limit imposed by section eleven of the Overseas Resources Development Act, 1948, on the borrowings (other than temporary borrowings) of the Corporation, namely—
    • any extension of the amounts which under the Overseas Resources Development Acts, 1948 to 1956, may be or are to be guaranteed by the Treasury, issued out of the Consolidated Fund, borrowed by the Treasury or paid into the Exchequer; and
  2. (b) to authorise the following consequences of raising from one hundred to one hundred and thirty million pounds the limit imposed by section twelve of the Overseas Resources Development Act, 1948, on advances to the Corporation by the Secretary of State, namely—
    • any extension of the amounts which under the Overseas Resources Development Acts, 1948 to 1956, may be or are to be issued out of the Consolidated Fund, borrowed by the Treasury, paid into the Exchequer or remitted to the Corporation by the Secretary of State.—[Mr. Alport.]

Resolution to be reported.

Report to be received Tomorrow.