§ Sir A. SINCLAIRasked the Secretary of State for Scotland whether he is yet in a position to state what arrangements have been reached with the four Scottish banks who have agreed to subscribe the necessary share capital to bring the Government's agricultural credits scheme into operation; when the company will be ready to begin operations; and on what terms loans will be advanced?
Mr. W. ADAMSONThe law agents of the four Scottish banks concerned have been informed by the Department of Agriculture for Scotland that they have approved the memorandum and articles of association of the Agricultural Security Corporation. As indicated in my replies to previous questions on this subject, the further stages in the formation of the corporation are being carried out, but I am not yet in a position to say when the corporation will be ready to 2481W commence operations, or on what terms the corporation will make loans.