HC Deb 07 July 1961 vol 643 c1923
Mr. Barber

I beg to move, in page 3, line 39, at the end to insert: or (c) by an enactment contained in a local Act of the present Session". Clause 3 (4) provides that where, for example, a local authority has enlarged its powers of investment by enactment in the ten years prior to the passing of the Bill, those powers shall not be allowed to accumulate with the powers of investment granted under the Bill. Instead, a limited accumulation will be allowed in accordance with the Third Schedule.

A few local and Private Bills lodged at the beginning of the Session provided for such a widening of investment powers, and the Amendment will bring those Bills within subsection (4). I am sure that the House will take the view that that is the right way to deal with those Bills, and I therefore commend the Amendment to the House.

Amendment agreed to.