HC Deb 17 June 1959 vol 607 c446

Resolution reported, That, for the purposes of any Act of the present Session which enables schemes made with a view to eliminating excess capacity in the cotton industry to provide for paying compensation for any such elimination, it is expedient to authorise the payment out of moneys provided by Parliament—

  1. (a) of contributions to any such compensation the contribution not to exceed two-thirds of the compensation; and
  2. (b) of grants towards expenditure incurred in re-equipping businesses in any section of the industry for which such a scheme is brought into force, the grant not to exceed one quarter of the expenditure incurred on the purchase and installation or modernisation of machinery and equipment; and
  3. (c) of any administrative expenses incurred by the Board of Trade for the purpose of the Act, whether in connection with the bringing into force of any such scheme, or the making of any such contributions or grants, or otherwise;
and this Resolution shall authorise the making of contributions to compensation and of grants with reference to things done at any time since the twenty-third day of April, nineteen hundred and fifty-nine.

Resolution agreed to.