HC Deb 07 December 1960 vol 631 c1399

[Queen's Recommendation signified.]

Considered in Committee under Standing Order No. 84 (Money Committees.)

[Sir GORDON TOUCHE in the Chair]

Resolved, That, for the purposes of any Act of the present Session to establish a Covent Garden Market Authority and vest in them lands in the Parish of Saint Paul, Covent Garden, and in the metropolitan borough of Finsbury and chattels the property of Covent Garden Market Limited; to make provision for the conduct in, and adjacent to, Covent Garden, under the control of the Covent Garden Market Authority, of activities relating to the dealing in bulk in horticultural produce; and to make provision with respect to matters arising out of the matters aforesaid, it is expedient to authorise—

  1. (a) the issue out of the Consolidated Fund of sums required to enable the Minister of Agriculture, Fisheries and Food to make advances to the said Authority, but so that the aggregate amount outstanding by way of principal in respect of any such advances shall not at any time exceed eight million pounds;
  2. (b) the raising under the National Loans Act, 1939, of any money required for the purpose of providing any sums to be issued as aforesaid or for the replacement of sums so issued;
  3. (c) the payment into the Exchequer of any sums received by the Minister of Agriculture, Fisheries and Food from the said Authority in respect of advances and the issue of such sums out of the Consolidated Fund and the application of such sums, in so far as they represent principal, in redemption or repayment of debt, and in so far as they represent interest, towards meeting such part of the annual charges for the national debt as represents interest;
  4. (d) the payment into the Exchequer of the whole or any part of any excess of the revenues of the said Authority for any period over the total sums properly chargeable by the said Authority to revenue account for that period.—[Mr. Vane.]

Resolution to be reported.

Report to be received Tomorrow.