HC Deb 02 February 1970 vol 795 cc75-6
75
§
Queen's Recommendation having been signified—
§
Resolved,
That, for the purposes of any Act of the present Session to amend the Export Guarantees Act 1968, it is expedient to authorise—
- (a) the payment out of moneys provided by Parliament of any expenses incurred by the Board of Trade under the Act of the present Session, in making grants for the purpose of reducing interest costs incurred or to be incurred, under export contracts or contracts related to export contracts, by persons carrying on business or other activities abroad;
- (b) if, in accordance with any provision of the Act of the present Session, the Acquisition of Guaranteed Securities Fund maintained under section 3(2) of the Export
76
Guarantees Act 1968 is wound up, the payment into the Consolidated Fund of any sums then standing to the credit of the first-mentioned Fund, and of all sums received thereafter by the Board of Trade in respect of securities acquired by them under section 3(1);
- (c) any increase in the sums which, under section 3 or section 9 of the Act of 1968, are payable out of moneys provided by Parliament or chargeable on and payable out of, or payable into, the Consolidated Fund, being an increase attributable to the provisions of the Act of the present Session—
- (i) amending section 4(1) of the Act of 1968 by the substitution, in paragraph (a) of that subsection, of the words '£4,000 million' for the words '£2,400 million', and, in paragraph (b) of that subsection, of the words '£2.500 million' for the words '£1,500 million';
- (ii) extending the power of the Board of Trade under section 2 of the Act of 1968 to make arrangements for facilitating payments under contracts with persons carrying on business in the United Kingdom, the Isle of Man or the Channel Islands to the making of such arrangements for the purpose of encouraging 'trade with other countries' within the meaning of section 1(3) of the Act of 1968.—[Mrs. Gwyneth Dunwoody.]