§ Mr. Peter ReesI beg to move amendment No. 23, in page 28, line 12, leave out 'shares or other securities' and insert—
The clause deals with the incidental cost of obtaining loan finance, and the amendment is designed to remove an 1681 unnecessary restriction in the clause. As the clause was originally drafted, the relief would not have applied to incidental costs of the issue of loan stock which carried the right of conversion into loan stock of a different type—in other words, a floating rate bond which is convertible to a fixed rate bond.
- '(a) shares; or
- (b) other securities not being a qualifying loan or qualifying loan stock,'.
We felt, on reflection, that it was unnecessary to have that kind of restriction, and on that basis I commend the amendment to the House.
§ Amendment agreed to.