§ 78. Mr. Nott
asked the President of the Board of Trade what method his Department uses to calculate the rate of interest which persons and companies are allowed to charge when seeking exemption from the Moneylenders' Act, 1927.
§ Mr. Darling
A body corporate seeking exemption is requested to undertake not to charge interest at an annual rate exceeding 10 per cent. This undertaking is, in the opinion of the Board of Trade, an indication that the body is a proper one for exemption.