§ Mr. MOLTENOasked the Chancellor of the Exchequer whether it is open to a Colonial Government, in regard to any of the Colonial Stocks enjoying the benefit of the Colonial Stock Act, 1900, to alter any of the provisions affecting the Stock to the injury of the stock holder or to involve a departure from the original contract in regard to the Stock?
§ Mr. LLOYD GEORGEI would refer my hon. Friend to the third paragraph of the Treasury Order of the 6th December, 1900 (Statutory Rules and Orders, No. 926, of 1900).
§ Mr. MOLTENOasked the Chancellor of the Exchequer whether he is aware that the Stamp Duties and Fees Act, 1911, of the Union of South Africa, Section 5, which imposes a duty on the transfer of a market able security, including any Stock or security issued by the Government of the Union, does not alter the provisions affecting the Stock to the injury of the stock holder or involve a departure from the original contract in regard to the Stock, and so disentitles such Stock to the benefit of the Colonial Stock Act, 1900; and, if so, whether he proposes to take any action in the matter?
§ Mr. LLOYD GEORGEI am acquainted with the provisions of the Act referred to. The answer to the last part of the question is in the negative.
§ Mr. MOLTENOasked the Chancellor of the Exchequer whether, for the protection 2076W of investors in Colonial Stocks in the United Kingdom and to remove all doubts, he will cause to be added to the Treasury Order of 6th December, 1900, in regard to Colonial Stocks made in virtue of the power bestowed on the Lords Commissioners of the Treasury by the Colonial Stock Act, 1900, a condition to the effect that any Colonial Stock in order to enjoy the benefit of the Act must embody in its terms a provision that the Stock is free from all existing taxes or future taxes of the Colony, as a similar condition is now customary with most foreign loans which are now guaranteed against existing or future taxes of the country selling the loan?
§ Mr. LLOYD GEORGEThe answer is in the negative.