HC Deb 20 November 1962 vol 667 c1131

[Queen's Recommendation signified.]

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

[Sir WILLIAM ANSTRUTHER-GRAY in the Chair]

Resolved, That, for the purposes of any Act of the present Session to make further provision with respect to temporary advances to, and temporary borrowings by, the National Coal Board (in this Resolution referred to as "the Board"), it is expedient to authorise—

  1. (a) such increases in the sums which by or under any enactment are to be or may be issued out of the Consolidated Fund, raised by borrowing or paid into the Exchequer as may result from provisions of the said Act of the present Session whereby the Minister of Power (in this Resolution referred to as "the Minister") may advance temporarily to the Board such sums as they may require to borrow temporarily from him for financing any temporary deficit of the Board on revenue account, and
  2. (b) the charging on and issue out of the Consolidated Fund or payment into the Exchequer of such sums as may be required to be so charged, issued or paid in consequence of provisions of the said Act of the present Session whereby the Treasury may guarantee the repayment of, and the payment of any interest on, sums borrowed temporarily by the Board, otherwise than from the Minister, for financing any such deficit or otherwise for meeting their obligations and discharging their functions,
subject to the limitation that the aggregate amount outstanding in respect of the principal of sums borrowed, as mentioned in paragraphs (a) and (b) of this Resolution, shall not at any time exceed twenty million pounds.—[Mr.Barber.]

Resolution to be reported.

Report to be received Tomorrow.