§ Mr. HendryI beg to move, in page 5, line 31, after "let", to insert:
or agreed to sell, feu or let".I suggest that it would be convenient to discuss together with this Amendment the Amendments in page 6, lines 31 and 35.
§ Mr. SpeakerIf the House so pleases.
§ Mr. HendryIn Committee, a considerable amount of criticism was directed to what is now Clause 8. It was suggested that the drafting was rather clumsy, that Clause 8 was not strictly necessary, and that the same effect could very conveniently be achieved by combining what is now Clause 8 with what is now Clause 7. These three Amendments are designed to give effect to that.
§ Amendment agreed to.
§
Further Amendment made: In page 6, line 6, leave out:
in the case of the advance".—[Mr. Hendry.]
§ Mr. HendryI beg to move, in page 6, line 7, to leave out subsection (5) and to insert:
(5) An advance made under this section shall be repayable within a period not exceeding 30 years and either by instalments of principle or by an annuity of principal and interest combined.The Bill as originally drafted laid down very lengthy rules about the making of advances by local authorities. This matter was discussed at great length in Committee. The Committee came to the conclusion that a great many of the instructions were not necessary, as local authorities, being responsible bodies, could be trusted and relied upon to insert proper conditions for regulating advances made by them. It was suggested to me that I might consider the wording of the subsection between the Committee and Report stages.That I have now done, and I propose the words set forth on the Notice Paper as being very much shorter, more succinct and quite sufficient for the purpose.
§ Amendment agreed to.
§
Further Amendment made: In page 6, line 31, at end insert:
(a) shall be taken at the time of the making of the advance, or in the case of an agreement to sell, feu or let the land, at the time
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of the conveyance or grant of the feu or lease of the land; and
(b).—[Mr. Hendry.]