HC Deb 28 June 1963 vol 679 c1890

Resolution reported, That, for the purposes of any Act of the present Session to extend the area of operation and alter the name of the Colonial Development Corporation, and to amend sections 1, 4 and 6 of the Colonial Development and Welfare Act 1959, it is expedient to authorise any such increase in the sums which, under the Overseas Resources Development Act 1959 or the Colonial Development and Welfare Act 1959, are authorised to be issued out of the Consolidated Fund, paid into the Exchequer, raised by borrowing or defrayed out of moneys provided by Parliament as is attributable to provisions of the said Act of the present Session—

  1. (a) raising from £315 million to £340 million the limit imposed by section 4 of the Colonial Development and Welfare Act 1959 on the aggregate amount of the payments which may be made out of moneys provided by Parliament for the purpose of schemes under section 1 of that Act;
  2. (b) replacing the limit imposed by the said section 4 on the aggregate amount of loans under section 2 of the Colonial Development and Welfare Act 1959 which may be approved in any financial year, and raising from £100 million to £105 million the limit so imposed on the aggregate amount of all such loans;
  3. (c) amending the Overseas Resources Development Act 1959 or the Colonial Development and Welfare Act 1959 other wise than in respect of the limits imposed by those Acts respectively on the aggregate amount outstanding in respect of advances to the Colonial Development Corporation or of the payments and loans mentioned in paragraphs (a) and (b) above.

Resolution agreed to.