§ [No. 12]
§ Clause 7, page 6, line 13, at end insert "and for the purposes of subsection (3) of section 5 of that Act (which sets a limit of £70 million on the aggregate amount outstanding in respect of the principal of any money borrowed by the Authority under that section and its commencing capital debt) any money lent to the Authority under this section shall be treated as if it were money borrowed by the Authority under that section".
§ LORD BESWICK
My Lords, I beg to move that this House doth agree with the Commons in the said Amendment. This Amendment makes provision for rather stricter control of loans made with n this clause. The clause makes it quite clear that any borrowings under Section 5(3) of the Airports Authority Act 1965, and anything under this Bill, is within the limit of the £70 million laid down in the 371 1965 Act. There clearly must be only one limit for the Airports Authority's borrowing powers, whether they borrow under this Bill or under the 1965 Act. This clause makes it absolutely clear.
§ Moved, That this House doth agree with the Commons in the said Amendment.—(Lord Beswick.)
§ THE EARL OF KINNOULL
My Lords, this Amendment, to a clause which we discussed when it was before the House, again raises this rather curious situation where the British Airports Authority do not benefit at the present time, because the four airports which they manage are excluded, but they would benefit if they took on a new airfield. I wonder whether the noble Lord could confirm that at the present time this Amendment to the clause is dormant until a new aerodrome is taken over by the Airports Authority.
§ LORD BESWICK
My Lords, that is not quite the case. There may well be other cases where the Airports Authority wish to spend money or to borrow money, even though it is not for a new airfield. I cannot give any indication that they have any intention at the present time, but they may need some warehouses, a new terminal, or something of that kind, and such money as they borrow for those purposes must still come within the £70 million as provided by this new clause.
§ On Question, Motion agreed to.