§ Sir J. Powerasked the President of the Board of Trade what, in the view of his Department, constitutes a recognised stock exchange; whether such trading places are private institutions; to what extent his Department apply the provisions of Section 77 (3) of the Finance Act (1909–10), 1910, to associations of persons who form themselves into an institution termed a stock exchange; and if the letter addressed to the Mincing Lane Tea and Rubber Share Brokers' Association, Limited, by his Department, under date 17th May, 1913, constitutes that body a recognised stock exchange?
§ Dr. BurginThe Board of Trade are not concerned with the administration of the legal provisions to which my hon. Friend refers. As regards the third and fourth parts of the question, I am informed that for the purposes of Section 77 (3) of the Finance (1909–10) Act, 1910, the Board of Inland Revenue regard the following as Stock Exchanges:
Aberdeen, Belfast, Birmingham, Bradford, Bristol, Cardiff, Dundee, Edinburgh, Glasgow, Greenock, Halifax, Huddersfield, Leeds, Liverpool, London, Manchester, Newcastle-on-Tyne, Newport (Monmouthshire), Nottingham, Sheffield, Swansea, Provincial Brokers' Stock Exchange (Hull), the Stock Exchange, Union Street, Oldham, Oldham and District Stock Exchange, Mincing Lane Tea and Rubber Share Brokers' Association, Limited.
In their letter of the 17th May, 1913, the Board of Inland Revenue granted the request of the last named association that their members should be entitled to the benefit of Section 77 (3), and consequently agreed to regard the association as a stock exchange for the purpose of that section.