§ Sir J. Mellorasked the Chancellor of the Exchequer whether he will give an assurance that Treasury consent, as required by Regulation 6 of the Defence (Finance) Regulations, 1939, to borrowing by a company in order to redeem maturing debentures, or to an arrangement for postponing the date of maturity of debentures, will not be refused when the company can show that such refusal would involve its default or the depletion of its necessary cash resources?
§ Sir K. WoodApplications for Treasury consent under Regulation 6 are considered individually on their merits by the Capital Issues Committee, who make a recommendation to the Treasury. While I cannot give the categorical assurance2016W which my hon. Friend requests, I am sure that the Committee would view sympathetically cases such as those referred to in his Question.