HL Deb 29 July 1946 vol 142 cc1026-7

Considered on Report (according to Order).

Clause 38:

Saving for Emergency Restrictions on Borrowing.

38. Nothing in this Order shall authorise the exercise of any power of borrowing money or the making of any issue of capital otherwise than in compliance with the provisions of the Local Authorities Loans Act 1945 or of any Defence Regulation within the meaning of the Supplies and Services (Transitional Powers) Act 1945 for the time being having effect by virtue of that Act.

LORD AMMON moved, at the end of the clause, to insert "or of any Order made under the Borrowing (Control and Guarantees) Act, 1946." The noble Lord said: My Lords, this Amendment is made at the instance of the Treasury, and is necessary in view of the passing of the Borrowing (Control and Guarantees) Act, 1946. I beg to move.

Amendment moved— Clause 38, page 16, line Io, at end insert ("or of any Order made under the Borrowing (Control and Guarantees) Act, 1946.")—(Lord Ammon.)

On Question, Amendment agreed to.

Then, Standing Order No. XXXIX having been suspended (pursuant to the Resolution of July 15) Bill read 3a with the Amendment, and passed, and returned to the Commons.