HC Deb 14 March 1950 vol 472 c39W
53. Colonel Crosthwaite-Eyre

asked the Chancellor of the Exchequer what further action has been taken by His Majesty's Government to prevent agencies of the British Transport Commission from selling sterling in New York below the official rates.

Sir S. Cripps

None. It is not an offence against the Exchange Control Act to sell sterling notes at a discount in New York.