§ Amendments made: No. 26, in page 11, line 24, leave out 'to (6)' and insert 'and (5)'.
§ No. 27, in page 11, line 27, leave out 'and (3)' and insert', (3) and (3A)'.
§ No. 28, in page 11, line 27, leave out from 'below' to end of line 31.
807
§
No. 29, in page 12, line 11, at end insert—
'(3A) Each Corporation may borrow from any of its wholly owned subsidiaries, without any consent, approval or other authority.
(3B) It shall be the duty of each Corporation to secure that none of its wholly owned subsidiaries borrows otherwise than from the Corporation or from another of its wholly owned subsidiaries except with the consent of the Secretary of State and the approval of the Treasury'.
§ No. 30, in page 12, line 34, leave out subsection (6).
§
No. 31, in page 13, line 3, leave out
'in circumstances falling within subsection (6) above'
and insert—
- '(i) by a Corporation from one of its wholly owned subsidiaries, or
- (ii) by one of a Corporation's wholly owned subsidiaries from another such subsidiary or from the Corporation;
§
No. 209, in page 13, line 10, at end insert—
'(bb) it is a loan guaranteed under section 10 of the Industry Act 1972 (construction credits for ships); or'.—[Mr. Kaufman.]