§ [Queen's Recommendation signified]
§ Considered in Committee under Standing Order No. 88 (Money Committees).
§ [Mr. SYDNEY IRVING in the Chair]
That, for the purposes of any Act of the present Session to make provision as to the power of the Minister of Overseas Development to provide assistance to, or for the benefit of, overseas countries and territories; to enable effect to be given to an international agreement for the establishment and operation of an Asian Development Bank; to enable the said Minister to make further contributions to the Indus Basin Development Fund and to remit interest on certain advances to the Commonwealth Development Corporation; to amend section 2 of the Colonial Development and Welfare Act 1959 and section 1 of the Commonwealth Teachers Act 1960; and to provide for the establishment and administration of an Overseas Service Pensions Scheme, it is expedient to authorise payments out of moneys provided by Parliament and out of the Consolidated Fund, payments into the Exchequer, the borrowing of money and the remission of debt, under the following heads.
A. The payment out of moneys provided by Parliament—
§ B. (1) The issue out of the Consolidated Fund of sums required—
- (a) for making payments on behalf of Her Majesty's Government under the said Agreement;
- (b) to redeem any non-interest-bearing and non-negotiable notes or other obligations issued or created by the Minister and accepted by the said Bank under the said Agreement;
§ C. (1) The payment into the Exchequer of any sums received by the Minister by way of payment of interest on, or repayment of, any loan by means of which any financial assistance is furnished as mentioned in head A(1) above, or by way of payment for any assistance, other than financial, so furnished;
§ (2) the payment into the Exchequer and the issue out of the Consolidated Fund, of any sums received by the Minister in pursuance of the said Agreement.
§ D. The remission of any obligation of the Commonwealth Development Corporation to make payments under section 14(1) of the Overseas Resources Development Act 1959 in respect of interest on any advance made, whether before or after the passing of the said Act of the present Session, to that Corporation for the purpose of defraying expenditure in the exercise of powers conferred on that Corporation by section 2 of the said Act of 1959.—[Mr. MacDermot.]
§ Resolution to be reported
§ Report to be received Tomorrow.